Castlelake, a global alternative investment firm specializing in asset-based opportunities, and Vervent, a fintech servicing company, entered into a forward flow agreement whereby certain Castlelake funds and affiliates will provide up to $180 million to Vervent and its affiliates.
Castlelake and Oportun entered into a new agreement whereby certain of Castlelake funds and affiliates will provide a $200 million private structured financing solution to Oportun.
Fora Financial closed a $130 million revolving credit facility and $10 million investment-grade rated corporate note. Truist Bank will serve as senior lender for the credit facility, joined by Castlelake as participating lender.
Aequum Capital expanded its revolving line of credit led by Texas Capital Bank to $60 million by adding Wells Fargo to the bank lending group. This new financing will further augment Aequum’s significant equity base led by Castlelake.
Castlelake, together with co-investor and minority partner Eltura Capital Management, reached an agreement to purchase up to $4 billion of consumer installment loans from Upstart, an artificial intelligence lending marketplace.
Evan Carruthers, chief investment officer of Castlelake, was appointed to the additional role of co-CEO alongside Rory O’Neill, who has assumed the title of executive chair and co-CEO. Additionally, Yen-Wah Lam was promoted to chief people officer and president.
Marco, a tech-enabled trade financing platform built for small and medium-sized businesses in Latin America and the United States, received a $200 million credit facility from middle-market lender MidCap Financial and global asset-based private credit specialist Castlelake.
OppFi, a financial technology platform that powers banks to help the everyday consumer gain access to credit, closed a $150 million credit facility with an affiliate of Castlelake as lender. Affiliates of Hudson Cove Capital Management are also participating in the credit facility.
Castlelake, a global alternative investment firm with about 17 years of experience investing in, financing and managing aviation assets, deployed $100 million through two new transactions in its aviation lending program.
Castlelake and Aequum Capital entered a partnership to establish a new commercial lending platform for the origination and servicing of senior asset-backed loans to small and medium-sized businesses in the United States.