Castlelake and Santander Provides €125 Million of Asset-Based Financing to Lease Originator GoByBike
MINNEAPOLIS, March 11, 2025 /PRNewswire/ -- Castlelake L.P. ("Castlelake"), a global alternative investment manager specializing in asset-based private credit, today announced that it has provided a €125 million financing facility to GoByBike, an originator of bicycle leases to small and medium-sized businesses, public authorities, and corporates based in Finland that participate in employee bicycle benefit programs. Castlelake provided the facility as part of its asset-based private credit investment strategy.
"We are pleased to provide GoByBike with a creative capital solution and demonstrate Castlelake's ongoing participation as a source of private credit in the European markets," Alexander Curcio, Partner at Castlelake. "With our significant tenure in Europe and specialized asset investing expertise, we believe Castlelake is well positioned to continue providing attractive asset-based investment opportunities to global investors."
The financing facility enables GoByBike to simplify its capital structure and continue expanding its business by addressing the steady demand for its product. Santander CIB provided senior financing as part of the facility.
"This financing agreement with Castlelake and Santander is tailored to our needs at a scale that significantly expands our capacity to offer benefit bicycles to Finnish employers and employees," said GoByBike CEO Tommi Ylönen. "Partnering with institutional investors enabled access to differentiated solutions beyond those available from smaller, local lenders."
Castlelake has been active in asset-based opportunities across Europe since 2006, having both acquired assets and provided asset-based private credit solutions. 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. Castlelake's recent asset-based private credit transactions in Europe include a strategic partnership to provide €1 billion of Nordic real estate financing, a mortgage-secured loan to a UK hospitality portfolio and a forward flow agreement for the purchase of over €3 billion of consumer loans.
About Castlelake
Castlelake, L.P. is a global alternative investment manager focused on asset-based investments. Founded in 2005, Castlelake manages approximately $25 billion of assets on behalf of a diversified global investor base. The Castlelake team comprises more than 220 experienced professionals, including 80 investment professionals, across seven offices in North America, Europe and Asia. For more information, please visit www.castlelake.com.
Castlelake Media Relations:
Molly Blemker
Tel: (612) 851-3083
Email: molly.blemker@castlelake.com
Josh Clarkson/Remy Marin, Prosek Partners for Castlelake:
Tel: (212) 279-3115
Email: jclarkson@prosek.com / rmarin@prosek.com / media.relations@castlelake.com
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SOURCE Castlelake