Brookfield Asset Management has entered into a strategic partnership with Angel Oak Companies, acquiring a majority stake in the Atlanta-based asset manager. The deal will integrate Angel Oak into Brookfield’s $317 billion credit platform, giving Brookfield’s investors access to Angel Oak’s residential mortgage credit strategies.
Brookfield said the move aligns with its ongoing effort to scale its credit business by joining forces with specialized investment managers. Angel Oak, which manages more than $18 billion in assets, will continue to operate independently, led by Co-CEOs and co-founders Sreeni Prabhu and Mike Fierman.
“We are pleased to announce our partnership with Angel Oak,” said Craig Noble, CEO of Brookfield Credit. “Their origination and investment capabilities will be a strong complement to Brookfield’s overall credit offering as we grow our platform. We believe Brookfield can add significant value as Angel Oak looks to build upon its success by both broadening and deepening its relationships with institutional investors.”
Founded in 2008, Angel Oak has become a leader in non-agency U.S. residential mortgage investment, combining a vertically integrated model through its mortgage origination arm, Angel Oak Mortgage Solutions, and its asset management division, Angel Oak Capital Advisors. The company has originated more than $30 billion in mortgage loans and completed over 60 securitizations to date — a figure expected to grow given rising demand from underserved borrower segments.
“We are thrilled to partner with Brookfield, whose disciplined investment approach, proven track record of achieving robust long-term growth, and global presence aligns perfectly with our vision,” said Prabhu and Fierman in a joint statement. “We are particularly impressed with the entrepreneurial spirit that has remained intact at Brookfield as they have become one of the largest alternative asset managers globally. This partnership validates Angel Oak’s proven model and past success, while opening new avenues for growth and innovation in providing clients access to residential mortgage credit. With Brookfield as our partner, we see significant opportunities to scale our integrated asset management and mortgage operations to better serve our clients.”
