HousingWireHousingWire
Canadian investment powerhouse Brookfield Asset Management Ltd. has agreed to buy a majority stake in Angel Oak Companies, the holding company for a non-QM lender and investor that manages more than $18 billion in mortgage assets.
Brookfield will take a 50.1% stake in Angel Oak, offering its own investors access to the firm’s residential mortgage credit business, according to filings with the Securities and Exchange Commission (SEC). Angel Oak will still operate independently, with co-founders Sreeni Prabhu and Mike Fierman remaining as co-CEOs.
Angel Oak, founded in 2008, owns mortgage originator Angel Oak Mortgage Solutions (AOMC) and asset management arm Angel Oak Capital Advisors. AOMC, which tends to lend to self-employed borrowers, has originated north of $30 billion and has issued more than 60 bond securitizations over the past decade.
“Their origination and investment capabilities will be a strong complement to Brookfield’s overall credit offering as we grow our platform,” Brookfield CEO Craig Noble said in a statement. “We believe Brookfield can add significant value as Angel Oak looks to build upon its success by both broadening and deepening its relationships with institutional investors.”
Prahbu and Fierman said in a statement that the acquisition “validates” their business model and will open “new avenues for growth and innovation in providing clients access to residential mortgage credit. With Brookfield as our partner, we see significant opportunities to scale our integrated asset management and mortgage operations to better serve our clients.”
The transaction is expected to close by the end of the third quarter of 2025.
In January, Brookfield acquired rent-to-own startup Divvy Homes in what was described as a “fire sale.”
