Callodine Group, an asset management firm concentrated on yield-oriented investment strategies, has acquired a majority stake in Thorofare Capital.

Thorofare is a real estate investment firm with $1 billion in assets under management. Following the deal, Thorofare will represent the real estate arm of the Callodine Group with its full team continuing with the company.

“When choosing a strategic partner, our focus was to identify a company that possesses a strong corporate culture, credit discipline, and an investor-centric approach to position Thorofare for accelerated, long-term growth as we enter the next chapter of our business,” said Kevin Miller, founder and CEO of Thorofare Capital. “We found all of those attributes and more in the Callodine team.”

“We are incredibly fortunate to have the opportunity to partner with the Thorofare team and help them take what we believe is already a best-in-class real estate investment firm to the next level,” said James Morrow, founder and CEO of Callodine Group.

Berkshire Global Advisors LP served as exclusive financial advisor and Kirkland & Ellis LLP served as legal counsel to Thorofare. Aviditi Advisors served as strategic advisor and Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel to Callodine.