Castlelake, L.P. ("Castlelake"), a global alternative investment manager specializing in asset-based private credit, today announced that it reached an agreement to provide financing, through its funds and entities, to Marco, a tech-enabled trade financing platform built for small and medium-sized businesses. Marco will use the credit to provide working capital and critical tools for its clients in the United States and Latin America.
Since 2015, Castlelake has completed over $4 billion of specialty finance investments in consumer credit across the risk spectrum, commercial credit such as small business credit and equipment finance and leasing, and other asset-backed/esoteric asset opportunities. Recent activity includes the establishment of a commercial lending platform for the origination and servicing of efficient senior asset-backed loans to small and medium-sized businesses in the U.S., and an agreement to acquire up to $400 million of diversified equipment loan and lease receivables. Its specialty finance activity has also included acquiring or financing more than 3,500 commercial and industrial loans and over 5 million consumer receivable accounts.