"The issuance is the first HEI securitization to comply with the EU and UK securitization and transparency frameworks, broadening global access to the HEI market. Point Securitization Trust 2025-2 issued $254.2 million of senior Class A-1 securities; $46.6 million of mezzanine Class A-2 securities; $45.9 million of subordinate Class B-1 securities; and $43.3 million of subordinate Class B-2 securities. While accounts managed by an affiliate of Blue Owl acquired a portion of the notes, 29 unique investors participated in the transaction, including eight new entrants."
"Ivan Zinn, head of alternative credit at Blue Owl, said this is the third transaction the firm has co-sponsored with Point in a relationship that dates back to 2018. We were able to combine legacy seasoned collateral we acquired earlier this year with new originations purchased directly from Point to issue the largest public HEI securitization to date, Zinn said in a statement."
The transaction signals growing investor confidence in home equity investments and advances HEI as a mainstream asset class. All assets were originated and will be serviced by Point. The issuance is the first HEI securitization to comply with EU and UK securitization and transparency frameworks, broadening global investor access. Point Securitization Trust 2025-2 issued $254.2 million of senior Class A-1, $46.6 million of mezzanine Class A-2, $45.9 million of subordinate Class B-1, and $43.3 million of subordinate Class B-2 securities, totaling $390 million. Investor demand exceeded $1.6 billion with 29 unique investors, including eight new entrants. Accounts managed by an affiliate of Blue Owl acquired a portion of the notes, and Blue Owl combined legacy seasoned collateral with new originations purchased from Point to facilitate the issuance. Barclays served as sole structuring agent and bookrunner, with Nomura and Cantor Fitzgerald alongside co-managers East West Markets and StoneX.
Read at www.housingwire.com
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