Pretium Buys Fix and Flip Hard Money Lender from Kuwait’s Wafra

Posted on 11/03/2021

Pretium acquired Anchor Loans LP, a Thousand Oaks, California-based provider of financing to residential real estate investors and entrepreneurs, from Wafra Capital Partners Inc. and other owners. Anchor Loans was formed in 1998. Following the close of the transaction, Anchor Loans will continue to be led by Chief Executive Officer Andrew Pollock and the current management team and retain its headquarters in Thousand Oaks, California.

Anchor Loans is known as a fix-and-flip lender.

American Equity Investment Life Insurance Company provided financing for the acquisition as part of an expansion of its strategic partnership with Pretium. In addition, American Equity acquired approximately $1 billion of loans originated by Anchor Loans concurrent with closing.

Nomura Securities International, Inc. acted as financial advisor and Sidley Austin LLP acted as legal advisor to Pretium. Piper Sandler & Co. acted as financial advisor and O’Melveny & Myers acted as legal advisor to Anchor Loans.

On September 10, 2019, Wafra Capital Partners acquired a majority interest in Anchor Loans. Prior to the 2019 acquisition, Anchor Loans brought Wafra Capital Partners on as a partner in 2015 in which Wafra provided US$ 500 million in funding for loans.

Kuwait’s Public Institution for Social Security (PIFSS) is the owner of Wafra.

Keywords: American Equity Investment Life Holding Company, Pretium Partners.

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