Castlelake, L.P. ("Castlelake"), a global alternative investment manager with 17 years of experience investing in asset-rich opportunities, today announced the sale of a $1.2 billion unpaid principal balance portfolio consisting of non-prime consumer credit receivables to an alternative investment firm.
The consumer credit receivables were originated via private label retail credit cards issued by a leading consumer retail company. Castlelake acquired the portfolio of private label credit card receivables in March 2021, and actively managed it through a volatile environment in an effort to stabilize and de-risk the assets in the portfolio.
Since 2015, Castlelake has invested $3 billion in specialty finance opportunities, including acquiring more than 3,500 commercial and industrial loans and financing or acquiring more than five million consumer receivable accounts.