Splitero Announces $350M Capital Commitment from Blue Owl Managed Funds
Splitero has secured a significant capital commitment of up to $350 million from Blue Owl Capital managed funds for Home Equity Investments.
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Rhea-AI Summary
Splitero has secured a significant capital commitment of up to $350 million from Blue Owl Capital managed funds for Home Equity Investments. The fintech company also announced its expansion into Tennessee and Virginia, broadening its home equity solutions reach.
The strategic investment will enable Splitero to help more homeowners access their home equity during a period of rising consumer debt and living costs. According to ICE Mortgage Monitor, U.S. homeowners currently hold $11.5 trillion of accessible home equity. Splitero's business model provides homeowners with immediate cash in exchange for a share of their home's future value, without requiring monthly payments or adding new debt.
Positive
- Secured $350 million capital commitment from Blue Owl Capital funds
- Geographic expansion into two new states (Tennessee and Virginia)
- Access to substantial market opportunity ($11.5 trillion in accessible home equity)
Negative
- None.
Details
News Market Reaction – OWL
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Home Equity Investment Originator to Provide More Homeowners Access to Equity and Announces Expansion into
In addition, Splitero announced today that it expanded its home equity solutions to
"We are excited to collaborate with Blue Owl as we further drive our mission to provide homeowners the support they need," said Splitero Founder and CEO Michael Gifford. "This investment allows us to ensure that more homeowners can access their home equity to secure their financial future."
"Blue Owl is pleased to provide a capital commitment from its funds that will further enable Splitero to expand homeowners' access to capital," said Ivan Zinn, Head of Alternative Credit at Blue Owl. "We look forward to seeing Splitero's continued success and helping support them in this next phase of growth."
This strategic investment allows Splitero to help more homeowners access equity from their homes as consumer debt reaches all-time highs and the cost of living continues to climb.
According to data from ICE Mortgage Monitor,
About Splitero
Splitero is a financial technology company that provides homeowners better options to access their home equity. Founded by real estate veterans, Splitero provides a lump sum of cash in exchange for a share of the home's future value. Splitero can help homeowners in
About Blue Owl
Blue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives.
With
Together with over 1,050 experienced professionals, Blue Owl brings the vision and discipline to create the exceptional. To learn more, visit www.blueowl.com.
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SOURCE Splitero
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