Castlelake Names Deputy Co-Chief Investment Officers and Chief Operating Officer

MINNEAPOLIS, March 31, 2022 /PRNewswire/ -- Castlelake, L.P. ("Castlelake"), a global alternative investment manager with 17 years of experience investing in asset-rich opportunities, today announced it has named Joe McConnell and Isaiah Toback as Deputy Co-Chief Investment Officers and Brad Farrell as Chief Operating Officer.

Mr. McConnell and Mr. Toback currently serve in portfolio management roles at Castlelake, overseeing the firm's Value and Aviation funds and Value and Income funds, respectively. As Deputy Co-CIOs, Mr. McConnell and Mr. Toback will continue to partner closely with Managing Partner and Chief Investment Officer (CIO) Evan Carruthers, directing and managing Castlelake's global investment strategy across the risk-return spectrum and supporting the growth and development of its investment teams. They will continue to report to Evan Carruthers, collectively comprising the Office of the CIO.

As Chief Operating Officer, Mr. Farrell's title reflects his responsibilities for Castlelake's financial, operational and administrative functions, including governance and execution of systems and processes that support our investment mandate. He previously held the role of Chief Financial Officer and will continue to report to Managing Partner and Chief Executive Officer, Rory O'Neill.  

"We are pleased to recognize the experience, strategic skillset and leadership that Joe, Isaiah and Brad bring to Castlelake," said Rory O'Neill, Managing Partner and Chief Executive Office of Castlelake. "As Castlelake looks toward the future and explores broader opportunities to provide capital solutions to asset sellers and borrowers in asset-rich private markets, Joe, Isaiah and Brad bring the expertise and leadership to drive our goals forward while maintaining the focus on relationships for which our counterparties have come to know us."

"In addition to their distinguished individual track records, Joe, Isaiah and Brad have demonstrated consistent personal commitment to our firm's success, values and delivery of its investor-focused mission," said Evan Carruthers, Managing Partner and Chief Investment Officer at Castlelake. "I am excited to continue partnering with them as we realize the next chapter of Castlelake's evolution and accelerate our growth."

Joe McConnell – Partner, Deputy Co-Chief Investment Officer
Mr. McConnell joined the firm in 2007 and is deputy co-chief investment officer. In this role, Mr. McConnell is responsible for guiding and executing the firm's global investment strategy across asset classes, overseeing the firm's Value and Aviation fund portfolios, and supporting the growth and development of its investment teams. He is also a voting member of the firm's Investment Review Committee and is a Director of Castlelake Aviation Ltd. and Castlelake's aircraft securitizations. Mr. McConnell became a partner of the firm in 2017 and has previously served in portfolio management and investment roles, including co-head of the firm's Aviation and Real Assets businesses. Prior to joining Castlelake, Mr. McConnell worked in Piper Jaffray's investment banking division. Mr. McConnell received his B.S.B. in finance and accounting from the Carlson School of Management at the University of Minnesota, summa cum laude.

Isaiah M. Toback – Partner, Deputy Co-Chief Investment Officer
Mr. Toback joined Castlelake in 2015 and is deputy co-chief investment officer. In this role, Mr. Toback is responsible for guiding and executing the firm's global investment strategy across asset classes, overseeing the firm's Value and Income fund portfolios, and supporting the growth and development of its investment teams. He is also a voting member of the firm's Investment Review Committee. Mr. Toback became a partner of the firm in 2020 and previously served in portfolio management and investment roles. He has particular experience with investments in dislocated industries and corporate special situations, including leading the firm's renewables and commodity shipping strategies. Prior to joining Castlelake, Mr. Toback was an investment banker with Goldman Sachs, where he was responsible for transportation structured financings, focusing on the aviation and shipping industries. Mr. Toback received his B.A. in economics from Vanderbilt University. Mr. Toback speaks conversational Spanish.

Brad Farrell – Partner, Chief Operating Officer
Mr. Farrell joined Castlelake in 2019 and is chief operating officer. In this role, Mr. Farrell is responsible for internal and external reporting, all financial and operational aspects of investment structuring, execution and valuation, and management company operations. Mr. Farrell also retains oversight of the firm's information and technology strategy and administrative functions and serves as a member of its Investment Review Committee among other governance roles. He became a partner of the firm in 2021. Mr. Farrell has approximately 22 years of professional experience in the financial services industry. Prior to joining Castlelake, he served as the Chief Financial Officer of Two Harbors Investment Corp., where he was responsible for operations, treasury, tax, accounting and financial reporting. During his 7-year tenure as Chief Financial Officer, Mr. Farrell was also involved in the organization's regulatory and corporate governance, risk oversight, transaction structuring and execution, debt and capital formation, investor reporting, technology and talent management. Prior to Two Harbors Investment Corp., Mr. Farrell served in various leadership and managerial positions within finance and accounting at GMAC ResCap, XL Capital and KPMG. Mr. Farrell received his B.S.B.A. from Drake University in accounting. Mr. Farrell is a CPA (inactive).

About Castlelake
Castlelake, L.P. is a global alternative investment manager focused on investments in real assets, specialty finance and aviation. Founded in 2005, Castlelake manages approximately $21 billion of assets. The Castlelake team comprises more than 200 experienced professionals, including 89 investment professionals, across six offices in North America, Europe and Asia. For more information, please visit https://www.castlelake.com/.

Contact
Castlelake Media Relations
Molly Blemker
+1 612 851 3083
[email protected]

Prosek Partners for Castlelake
Josh Clarkson / Remy Marin
[email protected]    
+1 212 279 3115

SOURCE Castlelake