#United States #San Diego #Blue Owl #Home Equity #Splitero

Splitero Secures Major Investment from Blue Owl

Splitero, a prominent player in the financial technology sector, specializes in enabling homeowners to access their home equity more effectively. The company recently made headlines by revealing a significant $350 million capital commitment from Blue Owl Capital, known for its alternative credit strategies. This investment marks a pivotal moment for Splitero as it enhances its capability to offer homeowners better financial options.

Expanding Accessibility to Homeowners

As part of its growth strategy, Splitero is expanding its services to two new states: Tennessee and Virginia. This initiative is aimed at democratizing access to home equity for a broader range of homeowners, allowing them to leverage their property assets without the burden of monthly payments or accruing new debt. Michael Gifford, the CEO and founder of Splitero, expressed excitement about the collaboration with Blue Owl, emphasizing the shared mission to support homeowners in achieving financial stability.

Splitero's approach involves providing a lump sum of cash in exchange for a percentage of a home's future value. This arrangement enables homeowners to address various financial needs, whether it's paying off existing debts or funding home renovations, all while retaining ownership of their properties. With consumer debt at record levels and living expenses rising, the timing of this investment could not be more critical.

The Home Equity Landscape

According to recent findings from ICE Mortgage Monitor, homeowners in the U.S. are sitting on approximately $11.5 trillion in available home equity. Splitero positions itself as a key player in this competitive landscape, facilitating access to this wealth for homeowners who may need it most. This strategic investment from Blue Owl aims to bolster the infrastructure required to support an increasing number of transactions, thus enhancing Splitero's market presence.

Ivan Zinn, Head of Alternative Credit at Blue Owl, commented on the alignment of the firm's investment strategies with Splitero’s mission. He noted that the commitment reflects a dedication to enabling more homeowners to access vital capital, ultimately contributing to their long-term financial health.

About Splitero and Blue Owl

Splitero is a financial technology organization that offers innovative home equity solutions founded by seasoned professionals in real estate. The company currently operates in multiple states, including Arizona, California, Colorado, Oregon, Tennessee, Utah, Virginia, and Washington, providing services tailored to homeowners looking to enhance their financial circumstances without the downsides associated with traditional loans.

On the other hand, Blue Owl Capital, a leading asset manager with approximately $235 billion in assets under management (as of September 30, 2024), focuses on redefining the alternatives market through its innovative investment strategies. With an emphasis on long-term growth and risk-adjusted returns, Blue Owl's collaboration with Splitero underscores both companies' commitment to improving the financial landscape for homeowners across the nation.

This partnership is not only a testament to the trust and innovation within the financial technology sector but also highlights an urgent need for solutions that empower homeowners to take control of their equity and financial futures.

In summary, as Splitero continues to expand its services and increase access to home equity financing, the support from Blue Owl will be instrumental in navigating the challenges and opportunities within the ever-evolving landscape of home equity investment.