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Exhibit 21.1
NEWCASTLE INVESTMENT CORP. SUBSIDIARIES
STATE/COUNTRY OF
INCORPORATION/FORMATION
-----------------------
1. Fortress Realty Holdings, Inc. Ontario
2. Commercial Asset Holdings LLC Delaware
3. Fortress CBO Investments I Corp. Delaware
4. Fortress CBO Holdings I Inc. Delaware
5. Newcastle CDO I Corp. Delaware
6. Fortress CBO Investments I, Ltd. Cayman Islands
7. Newcastle CDO I, Ltd. Cayman Islands
8. Fortress Asset Trust Delaware
9. LIV Holdings LLC Delaware
10. Monterrey Belgium S.A. Belgium
11. Monterrey B.V. Netherlands
12. Karl S.A. Belgium
13. Steinhage B.V. Netherlands
14. Alfa Invest s.p.r.l. Belgium
15. NIC Holdings I LLC Delaware
16. Newcastle CDO Holdings LLC Delaware
17. Fortress Finance (Belgium) s.p.r.l. Belgium
18. Newcastle CDO II Holdings LLC Delaware
19. Newcastle CDO II, Ltd. Cayman Islands
20. Impac Commercial Holdings, Inc. Maryland
21. Impac Commercial Assets Corporation California
22. Impac Commercial Capital Corporation California
23. Newcastle CDO II Corp. Delaware
24. NIC TRS Holdings, Inc. Delaware
25. Newcastle CDO III Holdings LLC Delaware
26. Newcastle CDO III, Ltd. Cayman Islands
27. Newcastle CDO III Corp. Delaware
28. NIC GCMRepo LLC Delaware
29. NIC DBRepo LLC Delaware
30. NIC NK LLC Delaware
31. DBNC Peach Holding LLC Delaware
32. DBNC Peach LLC Delaware
33. DBNC Peach I Trust LLC Delaware
34. DBNCF Circle LLC Delaware
35. DBNCH Circle LLC Delaware
36. NC Circle Holdings LLC Delaware
37. NC Circle Holdings II LLC Delaware
38. Newcastle CDO IV Corp. Delaware
39. Newcastle CDO IV Holdings LLC Delaware
40. Newcastle CDO IV, Ltd. Cayman Islands
41. Newcastle CDO V Corp. Delaware
Exhibit 21.1
NEWCASTLE INVESTMENT CORP. SUBSIDIARIES
STATE/COUNTRY OF
INCORPORATION/FORMATION
-----------------------
42. Newcastle CDO V Holdings LLC Delaware
43. Newcastle CDO V, Ltd. Cayman Islands
44. Newcastle Mortgage Securities LLC Delaware
45. Newcastle Mortgage Securities Trust 2004-1 Delaware
46. Newcastle 2005-1 Asset-Backed Note LLC Delaware
47. NIC BR LLC Delaware
48. NIC CNL LLC Delaware
49. NIC CSR LLC Delaware
50. NIC GS LLC Delaware
51. NIC GSE LLC Delaware
52. NIC CR LLC Delaware