Foundation Home Loans has been acquired by an affiliate of Apollo Global Management, Inc., Athene Holding Ltd.
Agreements for the transaction have been signed although the deal remains subject to regulatory approvals.
Foundation suggested that Athene, a financial services company focused on retirement savings solutions, is a “natural investor” for the mortgage loans that it originates.
The investment is to managed by a team at Apollo Global Management, Athene’s strategic asset management partner.
In a statement, Foundation commercial director, George Gee, said: “Foundation Home Loans is pleased to announce the new ownership, which will allow us to continue to pursue our growth plans and further support our partners in the intermediary mortgage market.
“The access to Athene’s balance sheet will greatly strengthen and diversify Foundation Home Loans’ sources for funding its lending, providing intermediary partners with even greater confidence in the solutions we offer to their clients.”
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