Castlelake Raises $2.4B For Fifth Fund In Four Months Of Marketing

Jul 21 2017 | 10:36pm ET

Global alternative investment manager Castlelake LP has raised $2.4 billion in capital commitments for its latest fund, closing at its hard cap and beating its $2 billion target.

The new fund, named Castlelake V, will focus on global aviation and distressed assets in North America and Europe, the company said in a statement. It will leverage Castlelake's ability to shift emphasis among markets and asset types to capitalize on opportunities less dependent on the business cycle. 

This includes Castlelake's niche expertise across global aircraft assets and aviation finance, European distressed real estate assets and non-performing loans, U.S. distressed assets and non-performing loan portfolios, dislocated industries and corporate distressed special situations, and distressed opportunities in the emerging markets, the statement continued. 

Fundraising for the fund was completed in four months, Castlelake said. The company’s last fund raised $1.9 billion in June of 2015. 

Founded in 2005 by Rory O’Neill, Castlelake, L.P. is a global private investment firm focused on investments in alternative assets, sub-performing loans, dislocated industries and corporate special situations, and is an experienced leader in aircraft ownership and servicing.

The company manages private funds and debt vehicles with $10.3 billion in assets as of March 31, 2017 for endowments, foundations, pension plans, private funds, family offices, insurance companies and sovereign wealth funds.

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