Castlelake provides up to $155M in financing to Voyager Global Mobility
Summary
The financing is earmarked for the acquisition of more than 3,200 vehicles to rideshare, car-share and micro-mobility driver-subscribers in the United States and Latin America. “We believe this financing will enable VGM to meaningfully address a supply shortage while providing drivers with more flexible solutions and a wider range of vehicles, including those that are handicap accessible,” said Armin Rothauser, who is partner of asset-backed direct lending at Castlelake. “Through this transaction we are also pleased to obtain exposure to what we view as a compelling income investment opportunity within the fast-growing mobility market,” Rothauser continued in a news release. “We look forward to taking our operations to the next level and to providing more drivers and our transportation software partners with professionally managed vehicles,” Ackerman added. Castlelake has completed more than $3 billion of specialty finance investments since 2015, including a recent agreement to acquire up to $400 million of diversified equipment loan and lease receivables.