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Direct Investment  + M&As  |  October 24, 2025
Callodine Group to Acquire Majority Stake in Corrum Capital 
By: Joe Palmisano

Callodine Group to Acquire Majority Stake in Corrum Capital 

Callodine Group, a Boston-based asset management firm, has agreed to acquire a majority stake in Corrum Capital Management LLC, a private credit platform managing approximately $1.4 billion in assets. The transaction broadens Callodine’s reach across asset-backed and specialty credit strategies. 

Founded in 2013, Corrum Capital focuses on asset-backed and cashflow-oriented investments in the sports, music and entertainment sectors, as well as aviation finance, with offices in Charlotte, North Carolina, and London. 

“We thoughtfully looked for a long-term partner with a shared culture, aligned strategic outlook, and investor-centric approach to support the firm’s next phase of growth,” said Jason Cipriani, Founder and CEO of Corrum Capital. “This partnership will help us diversify our capital sources and expand our investment strategies.” 

James Morrow, Founder and CEO of Callodine, said the transaction aligns with East Asset Management, the firm’s strategic capital partner supporting the acquisition. “Corrum’s capabilities within the aviation finance market are also complementary to our asset-based credit platform and provide yet another attractive strategy and collateral type to offer our institutional and individual investors,” Morrow added. 

Under the agreement, Corrum’s management team, investment committee, and investment process will remain intact, with Callodine providing strategic guidance, operational support, and capital resources. Jason Cipriani, Jonathan Mandle, and other members of Corrum’s executive leadership will retain a significant equity stake, and all current employees are expected to stay with the firm post-closing. 

Since its 2018 founding by Morrow, a former Fidelity Investments portfolio manager, Callodine has steadily built a multi-strategy alternatives platform. The firm acquired Gordon Brothers Finance Company in 2020 (now Callodine Commercial Finance), took a majority stake in Thorofare Capital in 2021 to establish its real estate arm, and acquired Manning & Napier in 2022, taking the wealth and asset manager private. 

Today, Callodine manages over $20 billion in assets across its affiliated advisors and strategies, spanning private credit, real estate, and wealth management. 

Paul, Weiss LLP served as legal counsel to Callodine. Berkshire Global Advisors LP acted as exclusive financial advisor to Corrum Capital, while Gibson Dunn & Crutcher LLP and Winston & Strawn LLP served as legal counsel.   

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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