Fresh investment from insurance accounts managed by KKR, an international investment firm, has been obtained by eRESI Capital, an innovative mortgage funding platform that provides the residential mortgage market with full private capital solutions.
These insurance accounts made their first eRESI investment in 2021.
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It is anticipated that the increased funding would support the company’s continued achievement of new origination milestones and promote more innovation, quality, and value for its clients.
Established in 2019, eRESI provides hundreds of mortgage banking partners with tailored products and liquidity options.
Over $10bn in residential whole loan finance has been made available by eRESI with assistance from KKR’s High-Grade Asset-Based Finance (ABF) approach.
It is anticipated that the increased commitment would contribute to expanding eRESI’s operational and finance capacities in order to gain market share and further boost client liquidity.
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By GlobalData“With KKR’s support, we have achieved remarkable goals, and we look forward to accomplishing even more in the future,” said Gregory Tsang, Chief Executive Officer and Tim Wang, President of eRESI.
“Our best-in-class platform empowers us to deliver exceptional products and services to our customers and partners and this commitment will continue to drive our growth and strengthen our market-leading position.”
Avi Korn and Chris Mellia, global co-heads of Asset-Based Finance at KKR added: “We are pleased to support eRESI’s growth through our High-Grade Asset-Based Finance strategy and look forward to deepening our commitment to the company, which plays a key role in expanding access to financing options in the mortgage market.”
Moreover, Investment grade and investment grade-like financings as well as full loan purchases are the main targets of KKR’s premium ABF strategy.
Compared to corporate investment grade exposure with comparable risk, this approach can offer appealing excess returns through access to proprietary sourcing and privately negotiated structures. Since it started investing in 2016, KKR’s ABF platform has managed about $66bn in ABF assets worldwide through its High-Grade ABF and Opportunistic ABF strategies.
