Castlelake, L.P.

Castlelake provides investment advisory and related servicing primarily to private investment funds, separately managed accounts and securitization or financing Vehicles that focus on aviation, real assets and specialty finance; the brochure also describes the firm’s role as servicer of securitization trusts, ABS‑style Vehicles, and warehouse and term facilities. The firm reports it manages approximately $35.3 billion on a discretionary basis and lists institutional investors such as pension plans, endowments, family offices and insurance companies among its investor base.

Its investment approach emphasizes asset‑based exposure across five broad asset classes—aviation leasing and lending, consumer finance, SME finance, residential mortgages and commercial mortgages—with a focus on secured lending and asset ownership. Castlelake describes a hands‑on operating model that includes direct origination, a dedicated aviation servicing capability, use of Platform Servicing Companies and joint‑venture operating partners, and mechanisms such as co‑investment opportunities and side letters to allocate transactions.

What distinguishes Castlelake from many peers, according to the brochure, is its operational scope and fee arrangements: it operates from multiple offices (nine), acts as collateral manager/servicer and receives servicing, structuring and facility‑management fees (including insurance‑servicing arrangements with pro rata offsets), and participates in warehouse and securitization structures such as CLOs and ABS‑style Vehicles. The brochure also discloses complex governance and allocation practices around side letters and co‑investments, the firm’s receipt of performance‑based compensation, and marketing practices that include the use of endorsements and certain trading or pool‑sponsorship activities for specific Vehicles.