Castlelake and Invictus Capital Partners Form Partnership to Invest in up to $2 Billion of Residential Loans

MINNEAPOLIS, April 17, 2025 /PRNewswire/ -- Castlelake L.P. ("Castlelake"), a global alternative investment manager with 20 years of experience investing in asset-based private markets, today announced that it has entered into an agreement with Invictus Capital Partners ("Invictus"), an alternative asset manager that specializes in residential credit, to invest in up to $2 billion in newly-originated residential mortgages.  

This agreement will enable Castlelake to provide its investors with exposure to what it believes to be high quality mortgage whole loans. The capital commitment will contribute to the further growth of Invictus' existing scaled loan investment platform.

"We are pleased to engage with Invictus, who we believe has a loan sourcing and credit underwriting approach that aligns with our granular data-driven investment philosophy and focus on downside protection," said Isaiah Toback, Partner and Deputy Co-CIO at Castlelake. "We look forward to working with the Invictus team as they continue the scaling of their loan investment capabilities and provide our investors with exposure to what we view as attractive pricing in the private residential loan market at a time when we see the sector experiencing increased growth."

"We believe this relationship with Castlelake highlights the recognition from sophisticated alternative investment managers of the significant opportunity to invest in high-quality loans in the residential credit market, the largest asset-based finance sector globally," said Michael Warden, Senior Managing Director and Chief Executive Officer at Invictus. "Castlelake's support affirms our belief that residential private credit deserves a featured position in an alternative credit portfolio."   

With 20 years of experience investing in asset-based opportunities, Castlelake has entered into partnerships to acquire or finance approximately $7 billion of residential and commercial real estate loans since 2024. Invictus Capital Partners has significant experience in residential loan investing, having acquired over 70,000 loans representing more than $35 billion in balance since 2015.

About Castlelake
Castlelake, L.P. is a global alternative investment manager focused on asset-based investments. Founded in 2005, Castlelake manages approximately $25 billion of assets on behalf of a diversified global investor base. The Castlelake team comprises more than 220 experienced professionals, including 80 investment professionals, across seven offices in North America, Europe and Asia. For more information, please visit www.castlelake.com.

About Invictus
Invictus Capital Partners is a leading alternative credit asset manager specializing in residential credit investing, managing more than $20 billion in gross assets. Founded in 2008 and headquartered in Washington, D.C., the firm is majority-owned by its employees. Invictus and its affiliates employ over 200 professionals, offering deep experience across the spectrum of residential debt investments, including high-yielding and distressed loans and bonds.

Castlelake Media Relations:
Molly Blemker
Tel: (612) 851-3083
Email: [email protected] 

Josh Clarkson/Remy Marin, Prosek Partners for Castlelake
Tel: (212) 279-3115
Email: [email protected] / [email protected] / [email protected]

SOURCE Castlelake