alts.cam Alternative Investments

Castlelake, L.P., a global alternative investment firm specializing in asset-based private credit, has acquired a majority ownership stake in Resfin Partners, the parent of Eastview, a U.S. mortgage correspondent business, and Lendmarq, a lender serving the U.S. residential investment community. The transaction is designed to expand Castlelake’s in-house investment origination capabilities by strengthening access to residential loan financing opportunities for its funds and vehicles. Over a multi-year relationship with the two platforms, Castlelake acquired more than 4,000 senior structured loans exceeding $2 billion of funded volume. Those loans have included residential transition loans (RTLs), single-family residential (SFR)/debt service coverage ratio (DSCR) loans, ground-up construction loans, and multifamily bridge loans, underscoring the breadth of product that Eastview and Lendmarq can originate. Castlelake also holds ownership stakes in four other sourcing platforms across specialty finance and aviation finance. As a new majority shareholder in Resfin Partners, the firm expects to support the platforms’ continued growth and the expansion of their residential lending capabilities. “This investment strengthens our residential mortgage finance platform and deepens a relationship with Eastview and Lendmarq that is built on a strict, shared focus on asset quality and value,” said Lucas Jackson, Head of North American Residential Mortgage Finance at Castlelake. Founded in 2005, Castlelake manages approximately $36 billion of assets on behalf of a diversified global investor base and is a strategic partner of Brookfield Asset Management Ltd. The post Castlelake Acquires Majority Stake in Resfin to Expand Mortgage Origination appeared first on Connect Money.

Source: https://www.connectmoney.com/stories/ca ... igination/