Castlelake, L.P.
SEC-registered
Private Fund Manager · Large ($10B–$100B)
CRD 145165
· SEC file 801-72310
· Minneapolis, MN
· WWW.FACEBOOK.COM
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ADV data as of Mar 27, 2026
- Regulatory AUM
- $35.3B
- Discretionary
- $35.3B
- Clients
- 50
- Avg AUM / client
- $706M
- Accounts
- 50
- Employees
- 251
AUM over time
$2.2B
$35.3B
Dec 2011
Dec 2025
Annual snapshots from Form ADV filings · as of Mar 27, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 46 | $35.1B | 99.4% |
| Insurance companies | 1 | $100M | 0.28% |
| Corporations and other businesses | 2 | $51.7M | 0.15% |
| Other | 1 | $61.5M | 0.17% |
Private funds (37)
View all →Reported in Form ADV Section 7.B.(1), filing of Oct 2024 · $26.3B combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Castlelake V, L.P. | Private Equity Fund | Delaware | $4.5B | 93 |
| Castlelake Aviation Iv Stable Yield, L.P. | Hedge Fund | Delaware | $4.2B | 33 |
| Castlelake Aviation Iii Stable Yield, L.P. | Hedge Fund | Delaware | $3.0B | 40 |
| Castlelake Iv, L.P. | Private Equity Fund | Delaware | $1.6B | 71 |
| Castlelake Income Opportunities Ii, L.P. | Private Equity Fund | Delaware | $1.4B | 36 |
| Castlelake Opportunistic Asset Solutions Vi, L.P. | Private Equity Fund | Delaware | $1.4B | 22 |
| Castlelake Aviation V Stable Yield, L.P. | Private Equity Fund | Delaware | $1.3B | 21 |
| Castlelake Arch Opportunities, L.L.C. | Private Equity Fund | Delaware | $1.1B | 1 |
| Clm Aggregation Fund, L.P. | Private Equity Fund | Delaware | $979M | 2 |
| Castlelake Iii, L.P. | Private Equity Fund | Delaware | $642M | 64 |
| Castlelake Aircraft Structured Trust 2019 1 | Securitized Asset Fund | Delaware | $576M | 3 |
| Castlelake V Dislocated Opportunities, L.P. | Private Equity Fund | Delaware | $536M | 19 |
| Cl Dal 2.0 Opportunities, Llc | Private Equity Fund | Delaware | $520M | 10 |
| Ac Aviation Finance Opportunities, L.P. | Private Equity Fund | Cayman Islands | $502M | 2 |
| Castlelake Income Opportunities I B, L.P. | Private Equity Fund | Cayman Islands | $471M | 18 |
Retirement plan clients
Plans that reported this firm as an investment service provider on Form 5500 Schedule C.
| Plan | Location | Plan year |
|---|---|---|
| Equity League Pension Trust Fund Board Of Trustees Of The Equity League Pension Trust Fund | 2024 | |
| Twin City Hospitals Minnesota Nurses Association Pension Plan Pension Committee Under Twin City Hospitals Minnesota Nurses | 2024 | |
| Non Contributory Retirement Program For Certain Employees Of Wellmark, Inc. Wellmark, Inc. | 2024 |
People (9)
roster as of Jul 20, 2026| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Carruthers, Evan, Andrew | Chief Executive Officer, Chief Investment Officer | Aug 2005 (21y) | Less than 5% | |
| O'neill, Rory, Joseph | Executive Chair | Aug 2005 (21y) | Less than 5% | |
| Farrell, Brad, Lee | Chief Operating Officer | Dec 2019 (7y) | Less than 5% | |
| Mcnally, Daniel, Joseph | General Counsel | Apr 2020 (6y) | Less than 5% | |
| Romolo, Maria, Rose | Chief Compliance Officer & Managing Counsel | Dec 2021 (5y) | Less than 5% | |
| Lam, Yen Wah | President; Chief People Officer | May 2023 (3y) | Less than 5% | |
| Noble, Craig, William Alexander | Board Member | Sep 2024 (2y) | GP / trustee / elected manager of Castlelake Group Gp, Llc (indirect) | |
| Shah, Sachin | Board Member | Sep 2024 (2y) | GP / trustee / elected manager of Castlelake Group Gp, Llc (indirect) | |
| Alan Bradley Gearing | Registered representative | May 2018 (8y) |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Ro Management, Lp | Limited Partner | Dec 2005 | A | 75% or more |
| Ro Management, Llc | General Partner | Dec 2005 | A | Less than 5% |
| Castlelake Group Topco, L.P. | Limited Partner | Dec 2020 | B | ≈ 56.25% – 100% via Ro Management, Lp |
| Castlelake Management Aggregator, Llc | Limited Partner | Dec 2020 | B | 75% or more of Castlelake Group Gp, Llc (indirect) |
| Brookfield Us Inc. | Shareholder | Sep 2024 | B | ≈ 10.55% – 50% via Brookfield Cl Holdings, Llc |
| Brookfield Us Holdings, Inc. | Shareholder | Nov 1994 | B | ≈ 7.91% – 50% via Brookfield Us Inc. |
| Brookfield Asset Management Ulc | Shareholder | Dec 2022 | B | ≈ 5.93% – 50% via Brookfield Us Holdings, Inc. |
| Castlelake Group Holdings, L.P. | Limited Partner | Dec 2020 | B | ≈ 28.13% – 75% via Castlelake Group Topco, L.P. |
| Brookfield Corporation | Shareholder | Dec 2022 | B | ≈ 2.97% – 37.5% via Brookfield Asset Management Ulc |
| The Bevaring Revocable Trust | Limited Partner | Dec 2020 | B | ≈ 7.03% – 37.5% via Castlelake Group Holdings, L.P. |
| The Rory O'neill Revocable Trust | Limited Partner | Dec 2020 | B | ≈ 7.03% – 37.5% via Castlelake Group Holdings, L.P. |
| Brookfield Cl Holdings, Llc | Limited Partner | Sep 2024 | B | ≈ 14.06% – 50% via Castlelake Group Topco, L.P. |
| Brookfield Asset Management Ltd. | Shareholder | Dec 2022 | B | ≈ 1.48% – 25% via Brookfield Asset Management Ulc |
| Castlelake Group Gp, Llc | General Partner | Dec 2020 | B | GP / trustee / elected manager of Castlelake Group Topco, L.P. (indirect) |
| Ro Management, Llc | General Partner | Dec 2005 | B | GP / trustee / elected manager of Ro Management, Lp (indirect) |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Castlelake Group Topco, L.P.: 75% – 100% of Ro Management, Lp × 75% – 100% direct ≈ 56.25% – 100% of the firm
- Brookfield Us Inc.: 75% – 100% of Brookfield Cl Holdings, Llc × 25% – 50% of Castlelake Group Topco, L.P. × 75% – 100% of Ro Management, Lp × 75% – 100% direct ≈ 10.55% – 50% of the firm
- Brookfield Us Holdings, Inc.: 75% – 100% of Brookfield Us Inc. × 75% – 100% of Brookfield Cl Holdings, Llc × 25% – 50% of Castlelake Group Topco, L.P. × 75% – 100% of Ro Management, Lp × 75% – 100% direct ≈ 7.91% – 50% of the firm
- Brookfield Asset Management Ulc: 75% – 100% of Brookfield Us Holdings, Inc. × 75% – 100% of Brookfield Us Inc. × 75% – 100% of Brookfield Cl Holdings, Llc × 25% – 50% of Castlelake Group Topco, L.P. × 75% – 100% of Ro Management, Lp × 75% – 100% direct ≈ 5.93% – 50% of the firm
- Castlelake Group Holdings, L.P.: 50% – 75% of Castlelake Group Topco, L.P. × 75% – 100% of Ro Management, Lp × 75% – 100% direct ≈ 28.13% – 75% of the firm
- Brookfield Corporation: 50% – 75% of Brookfield Asset Management Ulc × 75% – 100% of Brookfield Us Holdings, Inc. × 75% – 100% of Brookfield Us Inc. × 75% – 100% of Brookfield Cl Holdings, Llc × 25% – 50% of Castlelake Group Topco, L.P. × 75% – 100% of Ro Management, Lp × 75% – 100% direct ≈ 2.97% – 37.5% of the firm
- The Bevaring Revocable Trust: 25% – 50% of Castlelake Group Holdings, L.P. × 50% – 75% of Castlelake Group Topco, L.P. × 75% – 100% of Ro Management, Lp × 75% – 100% direct ≈ 7.03% – 37.5% of the firm
- The Rory O'neill Revocable Trust: 25% – 50% of Castlelake Group Holdings, L.P. × 50% – 75% of Castlelake Group Topco, L.P. × 75% – 100% of Ro Management, Lp × 75% – 100% direct ≈ 7.03% – 37.5% of the firm
- Brookfield Cl Holdings, Llc: 25% – 50% of Castlelake Group Topco, L.P. × 75% – 100% of Ro Management, Lp × 75% – 100% direct ≈ 14.06% – 50% of the firm
- Brookfield Asset Management Ltd.: 25% – 50% of Brookfield Asset Management Ulc × 75% – 100% of Brookfield Us Holdings, Inc. × 75% – 100% of Brookfield Us Inc. × 75% – 100% of Brookfield Cl Holdings, Llc × 25% – 50% of Castlelake Group Topco, L.P. × 75% – 100% of Ro Management, Lp × 75% – 100% direct ≈ 1.48% – 25% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (37, $26.3B gross assets)
Top 25 of 37 funds by gross assets · all funds
From Form ADV Section 7.B private fund reporting.
Retirement plans served (3)
| Plan | Sponsor | Participants | Plan assets | As of |
|---|---|---|---|---|
| Equity League Pension Trust Fund | Board Of Trustees Of The Equity League Pension Trust Fund | 22,180 | $2.4B | 06/01/2024 |
| Twin City Hospitals Minnesota Nurses Association Pension Plan | Pension Committee Under Twin City Hospitals Minnesota Nurses | 16,212 | $2.4B | 01/01/2024 |
| Non Contributory Retirement Program For Certain Employees Of Wellmark, Inc. | Wellmark, Inc. | 1,340 | $235M | 01/01/2024 |
From Form 5500 service-provider disclosures.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/27/2026 | 11.6 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Performance-based fees
- • Other fees
- • SERVICING FEES
Services
- • Portfolio management for pooled investment vehicles
- • Portfolio management for businesses/institutional clients
Custody
Reported custodians
- Bofa Securities, Inc. $51.6M (0% of AUM) Aug 2022
- Goldman Sachs $1.4M (0% of AUM) Aug 2022
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports having custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 27, 2026.
View current Form ADV (SEC/IAPD) ↗