Castlelake, L.P. announced it entered into a new joint venture agreement with Samhällsbyggnadsbolaget i Norden AB ("SBB"), and will provide approximately EUR 489 million/SEK 5.7 billion of financing. The loan will be used by SBB to recapitalize a portfolio of 92 social infrastructure assets across Sweden with an estimated market value of SEK 9.7 billion as of March 31, 2024. The joint venture follows one formed by Castlelake and SBB in February 2024, in which Castlelake agreed to provide approximately EUR 464 million/SEK 5.2 billion of financing to SBB Infrastructure AB.

Castlelake has been investing in asset-based opportunities across Europe, having both acquired assets and provided asset-based private credit since 2006. The firm has invested more than ?7.2 billion and acquired or financed more than 8,000 assets across 18 European countries since that time. DLA and CBRE advised Castlelake on the transaction, which is subject to customary closing conditions.