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Direct Investment  + M&As  |  April 3, 2025
Brookfield Acquires Controlling Interest in Angel Oak 
Joe Palmisano
By: Joe Palmisano

Brookfield Acquires Controlling Interest in Angel Oak 

Brookfield Asset Management has agreed to acquire a majority stake in Angel Oak Companies. The move integrates Angel Oak into the asset manager’s expansive $317 billion credit business. Founded in 2008, Angel Oak manages over $18 billion in assets and specializes in U.S. non-agency residential mortgages through its vertically integrated platform, which combines mortgage origination and asset management. 

Over the past decade, Angel Oak has made a significant impact in the mortgage industry, originating over $30 billion in residential loans and issuing more than 60 securitizations. The company’s success stems from its unique structure, which integrates Angel Oak Mortgage Solutions, its wholesale mortgage origination arm, with Angel Oak Capital Advisors, its asset management division. 

Angel Oak will maintain its operational independence under the partnership, led by its current co-CEOs, Sreeni Prabhu and Mike Fierman. The strategic alliance aims to accelerate growth in serving underserved borrower segments while expanding institutional investor relationships. 

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. 

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Inside The Story

Brookfield Asset ManagementAngel Oak Capital Advisors LLC

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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