01-04-2025
Brookfield Buys Majority Stake in Mortgage Specialist Angel Oak
Brookfield Asset Management Ltd. has agreed to buy a majority stake in Angel Oak Companies, a mortgage lender and investor that manages over $18 billion, as the New York-based firm continues efforts to grow its private credit business.
The asset manager will take a 50.1% stake in Angel Oak, offering its own investors access to the firm's residential mortgage credit business, according to an emailed statement. Angel Oak will still operate independently, with co-founders Sreeni Prabhu and Mike Fierman staying on as co-chief executive officers.
