The unity between Apostle Funds Management (Apostle) and CastleKnight Management (CastleKnight) is set to offer Australian wholesale and institutional investors access to CastleKnight’s “opportunistic strategy” across the capital structure.
Reportedly, this partnership will deliver CastleKnight’s offering to Australian investors for the first time.
Apostle stated that the partnership reflects its ongoing commitment to working with specialist global managers who provide alternative, institutional-quality investment strategies, strengthening its capacity to deliver performance and diversification for Australian investors.
As of 31 May 2025, CastleKnight had assets under management of US$2.2 billion. The company was founded by chief investment officer and managing partner Aaron Weitman, a former senior partner at Appaloosa LP, which was an investment adviser primarily known for distressed debt investing and “taking bold bets” across credit and equity markets.
Managing director at Apostle, Mitchell Gunman, said the company’s role is to connect Australian investors with “high-quality, institutional-grade managers”.
“CastleKnight has a strong track record in navigating complex capital structures and excels in volatile market conditions – capabilities that are increasingly critical in today’s investment landscape.
“The firm’s dynamic, agile approach positions them to pursue outsized returns, making this strategy a compelling addition to client portfolios.
“This partnership enables our wholesale and institutional clients to access a strategy that is often difficult to find outside of major US allocators. With strong historical performance, CastleKnight delivers a valuable new offering for investors,” Gunman said.
According to Apostle, CastleKnight focuses on identifying mispriced securities and asymmetric risk-return opportunities by combining a macro perspective with thorough bottom-up research.
The firm targets investments influenced by catalysts such as mergers and acquisitions, restructurings, regulatory changes and other special situations. The strategy is adaptable across both equity and credit markets, with exposures adjusted based on evolving market conditions.
Weitman stated that the company believes this is “one of the most attractive environments we’ve seen in over a decade”.
“Our approach attempts to capture dislocations and capitalise on volatility whether in equity or credit. We are excited to partner with Apostle to bring our strategy to a broader set of investors across Australia for the first time.”
