New York, NY
Founded in 2003, StoneCastle Partners is an asset manager focused on the community banking industry, with a strong track record in managing bank trust-preferred securitizations. The company intends to continue growing its core business by leveraging its origination network and underwriting capabilities to invest in other community bank assets and liabilities through a variety of investment vehicles. Since our investment, StoneCastle has started a cash management business, which has grown to over $10 billion in AUM and also launched a publicly traded closed-end investment company (Nasdaq: BANX).
Charlesbank acquired a minority interest in StoneCastle and has committed additional capital to fund future asset growth.