Athene to acquire real estate loans from the Foundation


An agreement for the acquisition of Foundation Home Loans by Athene Holding Ltd. was concluded.

The New York Stock Exchange listed company specializes in the issuance, reinsurance and acquisition of retirement savings products.

It was established in 2009 and has offices in Bermuda, the United States and London.

The Foundation says its operations make it a “natural investor in mortgages issued” by the lender.

Currently the Foundation has £ 3 billion in owner-occupied and rented mortgages on its books.

The acquisition is subject to regulatory approval and will be managed by Athene’s asset management partner, Apollo Global Management, which is also listed on the New York Stock Exchange.

Foundation Business Director George Gee comments: “Foundation Home Loans is pleased to announce the new ownership, which will allow us to continue our growth plans and further support our partners in the intermediary mortgage market.

“Access to Athene’s balance sheet will significantly strengthen and diversify Foundation Home Loans’ sources of financing its loans, giving intermediary partners even greater confidence in the solutions we offer to its clients.

Athene President and CEO Jim Belardi said, “This transaction continues our long-standing strategy of working with Apollo to identify and invest in attractive companies that add asset sourcing capabilities to direct origination to our alpha-generating investment portfolio.

“We believe our investment will help Foundation Home Loans reach its full potential, while being a complementary addition to our growing asset research capabilities.”

Apollo partner Christopher Hojlo adds, “We expect Foundation Home Loans to bring high quality assets to Athene’s residential mortgage and structured securities portfolio, which exceeded $ 13 billion in net invested assets in the year. March 31, 2021 and presents a strong return profile which is indicative of the alpha generation that the asset class can deliver. “

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