Castlelake, a global alternative investment manager focused on asset-rich investments in private markets, expanded its lending team, adding Wilhelm Steinmark as European head of aviation lending, direct structured credit and capital markets; Fouad Onbargi as managing director of direct structured credit; Chris Turner as director of direct structured credit and capital markets; Brian Banschick as director of direct structured credit; and Ricardo De Armas as director of direct structured credit. The team is led by Armin Rothauser, head of lending at Castlake, who joined the firm in 2020.
In November 2020, Castlelake established its lending team to address what it saw as a systemic lack of financing capacity for the aviation sector. Since that time, the team has provided more than $3 billion of financing to airlines and other aircraft owners. With the expansion of the team, Castlelake aims to bring financing solutions to asset owners and originators in additional sectors such as specialty finance and real assets, with a particular focus on global consumer credit assets, small business loans, project finance and real estate.
“The expansion of our lending team is a natural step for Castlelake that we believe enables us to couple deep asset expertise and structuring experience with attractive, differentiated solutions for borrowers,” Rory O’Neill, CEO and managing partner of Castlelake, said. “Since launching our lending team with a focus on the aviation sector in 2020, we have seen significant demand for similar capital solutions across our investment network and are pleased to now be in a position to better provide this support to existing and new borrowers across asset-rich markets.”
Through its lending team, Castlelake will seek to provide asset owners and originators with a variety of direct structured credit solutions, including senior secured, unsecured and high loan-to-value financing. This lending program builds on Castlelake’s 16 years of experience in sectors such as aviation, specialty finance, infrastructure, real estate and land, including through periods of distress and capital dislocation.
“As active participants in asset-rich sectors for nearly two decades, we believe that we have a granular understanding of the capital solutions that asset owners need,” Evan Carruthers, chief investment officer and managing partner of Castlelake, said. “We are seeing persistent retrenchment from traditional sources of financing in real asset sectors and believe we can provide tailored capital solutions in this market.”
