08:42 AM EDT, 04/01/2025 (MT Newswires) -- Brookfield Asset Management ( BAM ) on Tuesday said it will acquire a majority stake in Angel Oak Companies, an asset manager delivering mortgage and consumer products. Financial details were not disclosed.

Angel Oak, which joins Brookfield as part of the firm's US$317 billion credit business, has over US$18 billion in assets under management, and serves both institutional and individual investors. Angel Oak will operate its business independently, retaining its current leadership, including Sreeni Prabhu and Mike Fierman as co-chief executive officers.

Brookfield was last seen up US$0.43, to US$48.88, in U.S. pre-market trading.