American Equity provides financing for Pretium’s acquisition of Anchor Loans; buys $1B in loans
American Equity Investment Life Insurance Co., an issuer of annuities based in West Des Moines, announced today it provided financing and capital support for Pretium, a specialized investment management firm with approximately $30 billion in assets, in Pretium’s acquisition of Anchor Loans, the nation’s leading provider of financing to residential real estate investors and entrepreneurs. This transaction builds on AEL’s previously announced partnership with Pretium and enables Pretium to achieve its next phase of growth in its residential real estate platform, the companies said in a release. In addition to the financing, American Equity acquired approximately $1 billion of loans originated by Anchor Loans concurrent with the closing of the transaction. “Pretium’s underwriting expertise, real estate operating platform ecosystem and ability to originate attractive investments have made them a valued partner for AEL,” said Anant Bhalla, CEO of American Equity. In the third quarter of 2020, American Equity made a $100 million growth equity investment in Pretium. Founded in 1998, Anchor Loans was the first institutional lending platform built to serve the diverse financing needs of professional residential real estate investors. Over the last two decades, Anchor Loans has grown to become the nation’s leading capital provider to experienced residential real estate sponsors through its bridge and construction products, the company said on its website.