“We are excited to partner with Point, whom we view as the leading operator in a rapidly expanding asset class that offers homeowners a compelling alternative financing solution,” said Teddy Tawil, managing director and co-head of opportunistic credit at MidOcean Partners.
“Point is positioned to deliver strong and sustained growth, and we look forward to supporting the company’s origination efforts,” added Dana Carey, chief investment officer for MidOcean Credit.
“Our partnership with MidOcean represents a significant milestone for Point and underscores the strength and scalability of our home equity investment platform,” said Eddie Lim, co-founder and CEO at Point.
“By aligning with a sophisticated, long-term capital partner like MidOcean, we can continue to accelerate our origination efforts, expand access to flexible, payment-free investments for homeowners, and deliver high-quality assets to our institutional partners.”
The news comes shortly after another HEI deal involving Point. Last week, Blue Owl Capital said it will commit $2.5 billion from funds it manages to Point.
Founded in 2015 by Lim, Eoin Matthews and Alex Rampell, Point’s investors include Westcap, Andreessen Horowitz, Ribbit Capital, Greylock Partners, Bloomberg Beta, Alpaca VC and Prudential.
