Brookfield Asset Management and Angel Oak to Enter into Strategic Partnership

Core Viewpoint - Brookfield Asset Management has entered into an agreement to acquire a majority ownership stake in Angel Oak Companies, enhancing its credit business and providing investors access to Angel Oak's residential mortgage credit strategies [1][2]. Company Overview - Brookfield Asset Management is a leading global alternative asset manager with over $1 trillion in assets under management across various sectors, including renewable power, infrastructure, private equity, real estate, and credit [5]. - Angel Oak Companies, founded in 2008, has grown to manage over $18 billion in assets, specializing in U.S. non-agency residential mortgages through a vertically integrated platform [2][7]. Strategic Partnership - The partnership aims to leverage Angel Oak's origination and investment capabilities to complement Brookfield's credit offerings, with expectations of significant value addition as Angel Oak expands its relationships with institutional investors [2][3]. - Angel Oak will continue to operate independently, retaining its leadership team, including co-founders Sreeni Prabhu and Mike Fierman as Co-CEOs [4]. Financial Performance - Angel Oak has originated more than $30 billion in residential mortgage loans and issued over 60 securitizations, with an anticipated acceleration in growth due to increasing borrower segments underserved by traditional lenders [2]. Market Position - Angel Oak Mortgage Solutions is recognized as the top nonbank wholesale and correspondent lender of non-QM loans in the U.S., operating in 46 states and the District of Columbia [8]. - Brookfield Credit manages approximately $317 billion in assets globally, focusing on a wide range of private credit investment strategies [6].