Castlelake II, formerly known as TPG Credit Strategies Fund II, manages private funds worth approximately $21 billion on behalf of various institutional investors. The firm focuses on investing in distressed assets, particularly in the aviation, European non-performing loans, and US distressed asset sectors. With a capital pool of just under $1 billion, Castlelake II aims for double-digit cash flow returns and expects income streams to contribute more than half of the total returns. The fund is backed by respected endowments, foundations, family offices, fund of funds, and pension funds. Castlelake II is managed by an experienced investment professional team based in Minneapolis and London.