MidOcean Partners, Point signs $600 million equity investment deal

“We are excited to partner with Point, who we view as the leading operator in a fast-growing asset class that offers homeowners an attractive alternative financing solution,” said Teddy Tawil, managing director and co-head of opportunistic lending at MidOcean Partners.

“Point is positioned to deliver strong and sustainable growth, and we look forward to supporting the company’s origination efforts,” said Dana Carey, Chief Investment Officer of MidOcean Credit.

“Our partnership with MidOcean represents a significant milestone for Point and underlines the strength and scalability of our residential equity investment platform,” said Eddie Lim, co-founder and CEO of Point.

“By joining an advanced, 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 on the heels of a new HEI deal involving Point. Last week, Blue Owl Capital said it will allocate $2.5 billion from the 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.