Brookfield Asset Management and Angel Oak Companies, a leading asset manager delivering innovative mortgage and consumer products, entered into an agreement in which Brookfield will acquire a majority ownership stake in Angel Oak and offer its investors access to the firm’s residential mortgage credit strategies. Angel Oak joins Brookfield as part of the firm’s $317 billion credit business, aligning with Brookfield’s broader strategy to partner with best-in-class credit managers alongside its direct investment platform.

Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as Brookfield’s legal counsel. KingsRock Securities LLC, a wholly owned subsidiary of KingsRock Advisors LLC, acted as exclusive financial advisor to Angel Oak, and UBS Investment Bank advised the management team of Angel Oak on this transaction. Paul Hastings LLP acted as legal counsel to Angel Oak.