Point completes its fourth rated securitization, securing over $2 Billion in orders from investors, signaling further maturation of the home equity investment asset class
Palo Alto, California, June 05, 2025 (GLOBE NEWSWIRE) — Point, the leading home equity investment platform making homeownership more valuable and accessible, and funds managed by Blue Owl Capital (“Blue Owl”) announced today that they have completed a rated securitization of Point’s Home Equity Investment (“HEI”) assets, issuing $248.6 million of rated asset-backed securities (the “Transaction”). The Transaction is Point’s fourth rated securitization and fifth overall.
The Transaction closed on May 23, 2025. The issuer, Point Securitization Trust 2025-1, issued $162.2 million of senior class A-1 securities rated A (low) (sf), $35 million of mezzanine class A-2 securities rated BBB (low) (sf), $28.3 million of subordinate class B-1 securities rated BB (low) (sf), and $23.1 million of subordinate class B-2 securities rated B (high) (sf) (retained), all rated by Morningstar DBRS. A portion of the notes were acquired by accounts managed by an affiliate of Blue Owl. The Transaction drew significant interest from both new and repeat institutional investors, resulting in the Transaction being more than 8x oversubscribed. Co-sponsoring the Transaction with a subsidiary of Blue Owl, Point was the originator of all the HEIs in the securitization and will continue to service the assets.
“This past year has been transformative—for Point and for the entire HEI space,” said Eddie Lim, co-founder and CEO of Point. “Investor demand has never been stronger, and the performance of our deals continues to outperform expectations. Our latest securitization was met with overwhelming enthusiasm, reinforcing that HEIs aren’t just gaining traction—they’re reshaping how homeowners access equity. We’re just scratching the surface of what’s possible.”
Over the past 18 months, the rated securitization space for HEIs has entered a new phase of maturation. With multiple HEI-backed deals successfully rated, the asset class is seeing increased institutional recognition and investor confidence, with issuance volume doubling and the number of transactions tripling in 2024 alone[1]. According to Finsight[2], HEI-backed deals totaled $936 million across five transactions last year—up significantly from prior years. These transactions have helped set important benchmarks for credit quality, structure, and performance, signaling a shift from emerging to established within the alternative housing finance landscape.
“The Blue Owl Alternative Credit team and Point have a longstanding relationship dating back to 2018, and we are excited to continue our partnership with the Point team,” said Ivan Zinn, Head of Alternative Credit at Blue Owl. “This marks the second Point transaction that Blue Owl has co-sponsored, and we look forward to doing many more together. The success of this transaction is a testament to the Point platform and validates the thesis that HEIs will continue to be a growing asset class.”
Barclays Capital Inc. (“Barclays”) was the sole-structuring agent for the issuance. Barclays, Citigroup Global Markets Inc., and Nomura Securities International Inc. were joint bookrunners on the Transaction, and East West Markets, LLC and Cantor Fitzgerald & Co. were co-managers on the Transaction.
About Point
Point is the leading home equity platform making homeownership more valuable and accessible. Point’s flagship product, the Home Equity Investment (HEI), empowers homeowners to unlock their equity to eliminate debt, get through periods of financial hardship, and diversify their wealth – without adding to their monthly expenses. Point has worked with more than 15,000 homeowners, unlocking more than $1.5 billion in home equity. Point’s HEI enables investors to access a previously untapped asset class – owner-occupied residential real estate. Founded in 2015 by Eddie Lim, Eoin Matthews, and Alex Rampell, Point is backed by top investors, including Westcap, Andreessen Horowitz, Ribbit Capital, Greylock Partners, Bloomberg Beta, Blue Owl Capital, Alpaca VC, and Prudential. The company is headquartered in Palo Alto, CA. For more information, please visit www.point.com
Blue Owl Capital
About Blue Owl: Blue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives®. With $273 billion in assets under management as of March 31, 2025, we invest across three multi-strategy platforms: Credit, GP Strategic Capital, and Real Assets. 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 1,200 experienced professionals globally, Blue Owl brings the vision and discipline to create the exceptional. To learn more, visit www.blueowl.com.
[1] Source: https://www.hel.news/articles/mbs/q4-issuance-010225
[2] Source:
https://www.globalcapital.com/securitization/article/2egjdeyqx5732y19mm8sg/securitization/rmbs-us/hei-nears-tipping-point-as-investors-warm-on-sector?
CONTACT: Amanda Woolley Point 3603191738 awoolley@point.com
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