Brookfield Asset Management announced an agreement to acquire a majority ownership stake in Angel Oak Companies, a leading asset manager specializing in innovative mortgage and consumer products. Angel Oak will join Brookfield as part of its $317 billion credit business.
Angel Oak, founded in 2008, manages over $18 billion in assets and provides access to U.S. non-agency residential mortgages through a vertically integrated platform. This platform combines its non-bank wholesale mortgage originator, Angel Oak Mortgage Solutions, with its asset management business, Angel Oak Capital Advisors.
This partnership aligns with Brookfield’s strategy to partner with best-in-class credit managers and is expected to significantly complement Brookfield’s overall credit offering. Angel Oak will continue to operate independently with its current leadership, including co-founders and Co-CEOs Sreeni Prabhu and Mike Fierman.
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