Home Equity Investment Originator to Provide More
Homeowners Access to Equity and Announces Expansion into
Tennessee and Virginia
SAN
DIEGO, Dec. 5, 2024 /PRNewswire/
-- Splitero, the financial technology company that provides
homeowners better options to access their home equity, announced a
programmatic purchase commitment from funds managed by Blue Owl
Capital ("Blue Owl"). Blue Owl's Alternative Credit strategy funds
will purchase up to $350 million of
Home Equity Investments.
In addition, Splitero announced today that it expanded its home
equity solutions to Tennessee and
Virginia to provide more
homeowners with access to home equity.
"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, U.S. homeowners
collectively hold $11.5 trillion of
accessible home equity. Splitero provides homeowners with a lump
sum of cash in exchange for a share of their home's future value
with no additional monthly payments or new debt. These Home Equity
Investments (HEIs) enable homeowners to access their home equity to
improve their lives—whether by paying off debt, funding home
renovations, or achieving other financial goals, all without
needing to sell their home or refinance an existing low-interest
mortgage.
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 Arizona, California, Colorado, Oregon, Tennessee, Utah, Virginia, and Washington access their equity with no monthly
payments or new debt. For more information,
visit www.splitero.com.
About Blue Owl
Blue Owl (NYSE: OWL) is a leading asset
manager that is redefining alternatives.
With $235 billion in assets under
management as of September 30, 2024,
we invest across three multi-strategy platforms: Credit, GP
Strategic Capital, and Real Estate. Anchored by a strong permanent
capital base, we provide businesses with private capital solutions
to drive long-term growth and offer institutional investors,
individual investors, and insurance companies differentiated
alternative investment opportunities that aim to deliver strong
performance, risk-adjusted returns, and capital preservation.
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.
Media Contacts
Jennifer
Avrhami, Publicist
Pitch Public Relations
602-885-5366
Jennifer@pitchpublicrelations.com
Nick Theccanat
Principal, Corporate Communications & Government Affairs
Nick.Theccanat@blueowl.com
+1 212-970-6868
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SOURCE Splitero
