Global alternative investment manager Castlelake recently announced a $150 million investment in Swedish specialty lender IMH.
According to a press release, the investment will include the acquisition of existing loans with IMH and financing facility for new loans. This deal will build on Castlelake's more than 7,000 assets and and more than $3 billion in similar opportunities across 12 European countries.
"Partnering with IMH is an exciting next step for Castlelake as we continue to expand our presence in Europe and the Nordic region," Philipp Braschel, Partner, European Real Assets at Castlelake said, according to the press release. "IMH and its experienced management team are well-positioned to provide capital to a growing but underserved market, and we believe this investment can deliver value to our investors as well as IMH and its stakeholders."
Jonas Hägerbäck, CEO of IMH, said Castlelake has been an "incredible partner" throughout this process.
"IMH expects to benefit greatly from their deep expertise in both the specialty finance and real assets space, making them an ideal choice as we chart the next steps on our expansion journey," Hägerbäck said, according to the press release.
IMH seeks to lend up to SEK 50 million to small- to medium-sized real estate investors and developers, building upon the SEK 1.3 billion the firm has already invested into Swedish businesses.
Established in 2005, the Castlelake currently manages $21 billion in global assets and employs more than 200 experienced professionals across six offices in North America, Europe and Asia.