Seller Details:
Founded in 2013, Corrum Capital Management LLC (“Corrum”) is a US-based private investment firm that takes an active approach to asset backed, cashflow-oriented investing, with an emphasis on downside protection, low market correlation and diversifying characteristics. Their demonstrated expertise, strong global network, and active investment approach allow them to deploy capital effectively across operationally intensive investments. Corrum currently has active investments primarily within the music, entertainment, and sports industries and the aviation finance industry. Since inception, Corrum has originated over $1.4 billion in loans globally within the music, entertainment, and sports industries and has invested in over $2.5 billion in assets in the aviation industry. Corrum’s investors include corporate and public pension plans, endowments and foundations, insurance companies, family offices and fund-of-funds.
Buyer Details:
Callodine Group (“Callodine”) is a Boston-based asset management platform with over $20 billion in assets under management across affiliated advisers. The Firm seeks to pursue predominantly income-oriented investment strategies with high cash yields that offer the potential for equity-like returns. Callodine’s specialized and dedicated investment teams target strategies across private credit, real estate credit, public equities and fixed income on behalf of institutional and individual investors.
Transaction Summary:
Callodine agreed to acquire a majority stake in Corrum, a leading private credit platform with approximately $1.4 billion in assets under management. The strategic partnership with Callodine will provide Corrum with enhanced resources to further diversify its sources of capital and expand the firm’s strong track record of execution within its robust and growing core investment strategies. Jason Cipriani, Jonathan Mandle and other members of the Corrum executive team will retain a significant equity stake going forward.
- Acquisition of Corrum further diversifies and enhances Callodine’s best-in-class credit platform focused on asset based and specialty lending strategies
- Corrum brings over a decade of experience and expertise in the sports, music & entertainment and aviation industries