Blackstone entities exit 4.0M Finance of America (FOA) units and shares
Rhea-AI Filing Summary
Finance of America Companies Inc. reported a set of insider transactions in which entities affiliated with Blackstone’s tactical opportunities funds sold an aggregate of 4,014,910 securities tied to the company on February 27, 2026.
The sales included LLC Units of Finance of America Equity Capital LLC and shares of Class A and Class B common stock, generally at a reported price of $10.00 per unit or share. According to the disclosure, these securities were repurchased by the issuer under an amended and restated repurchase agreement, and the reporting entities’ holdings in the reported classes dropped to zero following the transactions.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 1,596,144 shares
Net Sell
7 txns
Insider
BTO Urban Holdings L.L.C., Blackstone Tactical Opportunities Fund - S - NQ L.P., Blackstone Tactical Opportunities Fund - NQ L.P., Blackstone Tactical Opportunities Fund II - NQ L.P., Blackstone Tactical Opportunities Fund - A (RA) - NQ L.P., Blackstone Tactical Opportunities Fund - I - NQ L.P., Blackstone Tactical Opportunities Fund - C - NQ L.P., Blackstone Tactical Opportunities Fund - L - NQ L.P., Blackstone Tactical Opportunities Fund - O - NQ L.P., Blackstone Tactical Opportunities Fund - N - NQ L.P.
Role
10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner
Sold
4,014,910 shs ($40.15M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | LLC Units of Finance of America Equity Capital LLC | 2,404,961 | $10.00 | $24.05M |
| Sale | LLC Units of Finance of America Equity Capital LLC | 13,805 | $10.00 | $138K |
| Sale | Class A Common Stock | 385,855 | $10.00 | $3.86M |
| Sale | Class A Common Stock | 2,161 | $10.00 | $22K |
| Sale | Class A Common Stock | 1,208,126 | $10.00 | $12.08M |
| Sale | Class B Common Stock | 1 | $0.00 | $0.00 |
| Sale | Class B Common Stock | 1 | $0.00 | $0.00 |
Holdings After Transaction:
LLC Units of Finance of America Equity Capital LLC — 0 shares (Indirect, By Urban Holdings LLC);
LLC Units of Finance of America Equity Capital LLC — 0 shares (Indirect, By BFTO LP);
Class A Common Stock — 0 shares (Indirect, By Urban Holdings LLC);
Class A Common Stock — 0 shares (Indirect, By BFTO LP);
Class A Common Stock — 0 shares (Indirect, By Urban Holdings II LP);
Class B Common Stock — 0 shares (Indirect, See)
Footnotes (12)
- F1. The reported securities were repurchased by the Issuer pursuant to that certain Amended and Restated Repurchase Agreement dated as of November 13, 2025, by and among the Issuer, BTO Urban Holdings L.L.C., ("Urban Holdings LLC"), Blackstone Family Tactical Opportunities Investment Partnership - NQ - ESC L.P. ("BFTO LP"), BTO Urban Holdings II L.P. ("Urban Holdings II LLC") and Blackstone Tactical Opportunities Associates - NQ L.L.C.
- F2. Pursuant to the terms of an exchange agreement, dated as of April 1, 2021, limited liability company units of Finance of America Equity Capital LLC ("FOA Units") held by the Reporting Persons were exchangeable for shares of the Issuer's Class A common stock ("Class A Common Stock") on a one-for-one basis. These exchange rights had no expiration date.
- F3. Reflects securities previously held directly by Urban Holdings LLC.
- F4. Reflects securities previously held directly by BFTO LP.
- F5. Reflects securities previously held directly by Urban Holdings II LP.
- F6. Urban Holdings LLC is owned by Blackstone Tactical Opportunities Fund - NQ L.P., Blackstone Tactical Opportunities Fund II - NQ L.P., Blackstone Tactical Opportunities Fund - A (RA) - NQ L.P., Blackstone Tactical Opportunities Fund - I - NQ L.P., Blackstone Tactical Opportunities Fund - S - NQ L.P., Blackstone Tactical Opportunities Fund - C - NQ L.P., Blackstone Tactical Opportunities Fund - L - NQ L.P., Blackstone Tactical Opportunities Fund - O - NQ L.P., Blackstone Tactical Opportunities Fund - N - NQ L.P., Blackstone Tactical Opportunities Fund - U - NQ L.L.C., Blackstone Tactical Opportunities Fund II - C - NQ L.P., Blackstone Tactical Opportunities Fund - T - NQ L.P. (collectively, each of the Blackstone Tactical Opportunities Funds described in this paragraph shall be referred to as the "Blackstone Tactical Opportunities Funds"), (continued in footnote (7)).
- F7. BTAS NQ Holdings L.L.C. and Blackstone Family Tactical Opportunities Investment Partnership SMD L.P. The general partner of each of the Blackstone Tactical Opportunities Funds is Blackstone Tactical Opportunities Associates - NQ L.L.C. The sole member of Blackstone Tactical Opportunities Associates - NQ L.L.C. is BTOA - NQ L.L.C. The managing member of BTOA - NQ L.L.C. is Blackstone Holdings II L.P. The managing member of BTAS NQ Holdings L.L.C. is BTAS Associates - NQ L.L.C. The managing member of BTAS Associates - NQ L.L.C. is Blackstone Holdings II L.P.
- F8. The general partner of Blackstone Family Tactical Opportunities Investment Partnership SMD L.P. is Blackstone Family GP LLC. Blackstone Family GP LLC is wholly owned by Blackstone Inc.'s senior managing directors and controlled by its founder, Mr. Schwarzman.
- F9. The general partner of BFTO LP is BTO - NQ Side-by-Side GP L.L.C. The sole member of BTO - NQ Side-by-Side GP L.L.C. is Blackstone Holdings II L.P.
- F10. The general partner of Urban Holdings II LP is Blackstone Tactical Opportunities Associates - NQ L.L.C. The sole member of Blackstone Tactical Opportunities Associates - NQ L.L.C. is BTOA - NQ L.L.C. The managing member of BTOA - NQ L.L.C. is Blackstone Holdings II L.P. The general partner of Blackstone Holdings II L.P. is Blackstone Holdings I/II GP L.L.C.
- F11. Blackstone Inc. is the sole member of Blackstone Holdings I/II GP L.L.C. The sole holder of the Series II preferred stock of Blackstone Inc. is Blackstone Group Management L.L.C. Blackstone Group Management L.L.C. is wholly owned by Blackstone's senior managing directors and controlled by its founder, Stephen A. Schwarzman.
- F12. Information with respect to each of the Reporting Persons is given solely by such Reporting Person, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person. Each of the Reporting Persons (other than to the extent it directly holds securities reported herein) disclaims beneficial ownership of the securities held by the other Reporting Persons, except to the extent of such Reporting Person's pecuniary interest therein, and, pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, each of the Reporting Persons (other than to the extent it directly holds securities reported herein) states that the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did the Blackstone-affiliated holders do in this Finance of America (FOA) Form 4?
Blackstone-affiliated entities reported selling an aggregate 4,014,910 securities tied to Finance of America on February 27, 2026. The transactions covered LLC Units and Class A and B common stock, generally at $10.00 per unit or share, with reported post-transaction balances reduced to zero.
Which securities of Finance of America (FOA) were involved in these insider sales?
The transactions involved LLC Units of Finance of America Equity Capital LLC and shares of Class A and Class B common stock. Most units and Class A shares were sold at $10.00, while small Class B positions were reported with a $0.00 price, all reducing reported holdings to zero.
How many Finance of America (FOA) securities were sold in total in this filing?
The filing shows total reported sales of 4,014,910 securities on February 27, 2026. This total spans LLC Units and shares of Class A and Class B common stock, with each transaction linked to Blackstone-related entities holding the positions indirectly before the sales.
Who are the reporting persons in the Finance of America (FOA) Form 4?
The reporting persons are BTO Urban Holdings L.L.C. and multiple Blackstone Tactical Opportunities funds designated as ten percent owners. These entities, along with related partnerships, previously held the LLC Units and common stock indirectly before the disclosed sales and subsequent reduction of positions.
How were the Finance of America (FOA) securities repurchased from the Blackstone entities?
The reported securities were repurchased by the issuer under an Amended and Restated Repurchase Agreement dated November 13, 2025. This agreement covered securities held by BTO Urban Holdings L.L.C., BFTO LP, Urban Holdings II L.P. and related Blackstone entities before the February 27, 2026 transactions.
Were the LLC Units exchangeable into Finance of America (FOA) Class A common stock?
Yes. Under an April 1, 2021 exchange agreement, LLC Units of Finance of America Equity Capital LLC held by the reporting persons were exchangeable one-for-one into Class A common stock with no expiration date. The Form 4 shows sales of both the LLC Units and related Class A shares.