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American Equity Elevates Partnership With Pretium by Providing Financing and Capital Support for Acquisition of the Anchor Loans Platform and Its Existing Loan Portfolio
American Equity Investment Life Insurance Company (NYSE: AEL) has committed over $1 billion to support Pretium in acquiring Anchor Loans, a leading provider of financing to residential real estate investors. This partnership enhances AEL’s existing collaboration with Pretium, which manages approximately $30 billion in assets. The deal aims to strengthen AEL’s investment strategy focused on high-quality residential real estate assets. AEL's investment is seen as a pathway to achieving its growth objectives while supporting the housing industry.
Positive
Commitment of over $1 billion for residential real estate assets.
Strengthened partnership with Pretium enhances growth prospects.
AEL's investment aligns with its AEL 2.0 strategy focused on high-quality assets.
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Over $1 billion committed toward residential real estate assets
WEST DES MOINES, Iowa--(BUSINESS WIRE)--
American Equity Investment Life Insurance Company (“American Equity”) (NYSE: AEL), a leading issuer of general account annuities, announced today it provided financing and capital support for Pretium, a specialized investment management firm with approximately $30 billion in assets, for its acquisition of Anchor Loans, the nation's leading provider of financing to residential real estate investors and entrepreneurs. This transaction builds on AEL’s previously announced partnership with Pretium and enables Pretium to achieve its next phase of growth in its residential real estate platform.
“We are pleased to close a transaction that demonstrates our ability to provide flexible capital solutions, be responsive to market opportunities and deploy capital at scale,” said Pradip Ghosh, Senior Managing Director and Head of ROA for American Equity. “In supporting Pretium’s acquisition of Anchor Loans, we are also able to enhance our allocation to high quality residential real estate assets, which remains a key pillar of our AEL 2.0 investment strategy.”
Founded in 1998, Anchor Loans was the first institutional lending platform built to serve the diverse financing needs of professional residential real-estate investors. Over the last two decades, Anchor Loans has grown to become the nation’s leading capital provider to experienced residential real-estate sponsors through its bridge and construction products.
“Pretium’s underwriting expertise, real estate operating platform ecosystem and ability to originate attractive investments have made them a valued partner for AEL,” said Anant Bhalla, CEO of American Equity. “As a strategic, cornerstone investor in Pretium, we look forward to continuing to participate in their shareholder value creation.”
“At Pretium’s core, we are committed to providing capital solutions to the residential housing industry, including offering attractive rental homes and mortgages to consumers and investors” commented Ted Huffman, Pretium’s Senior Managing Director of Strategic Development. “We are delighted that AEL shares our strategic vision, and through our partnership they are able to invest in attractive, scalable, general account assets.”
The strategy will leverage the full capabilities of Pretium’s asset management platform in order to seek to achieve continued success in investment performance.
ABOUT AMERICAN EQUITY
American Equity Investment Life Holding Company, through its wholly-owned operating subsidiaries, is a leading issuer of general account annuities through independent agents, banks and broker-dealers and will continue to expand its capabilities in private asset origination via strategic investments, joint ventures and other initiatives. American Equity Investment Life Holding Company, a New York Stock Exchange listed company (NYSE: AEL), is headquartered in West Des Moines, Iowa.
Steven Schwartz | Head of Investor Relations
American Equity Investment Life Holding Company®
515-273-3763 | sschwartz@american-equity.com
Source: American Equity Investment Life Holding Company
FAQ
What is the significance of American Equity's $1 billion investment in Pretium and Anchor Loans?
The investment signifies American Equity's commitment to enhancing its portfolio in residential real estate, supporting Pretium's growth and aligning with its AEL 2.0 investment strategy.
How does the acquisition of Anchor Loans impact American Equity (AEL)?
The acquisition allows American Equity to allocate capital effectively in high-quality residential real estate assets, potentially enhancing shareholder value.
What are the financial aspects of American Equity's partnership with Pretium?
The partnership involves a commitment of over $1 billion to facilitate Pretium's acquisition of Anchor Loans, aimed at achieving significant growth in the residential real estate sector.
