Barings, an investment manager, and Crebrid, a newly rebranded and growing real estate lending platform formerly known as Wildcat Lending, introduced a new credit facility that will help accelerate Crebrid’s credit origination across the United States.
Under the agreement, Barings’ investors will take a minority equity position in Crebrid as part of the transaction. Barings’ investors will also provide a flow purchase facility with $500 million in initial capacity to enable Crebrid to significantly expand its loan offerings, which are supported by its proprietary technology-driven lending platform. Terms of the transaction were not disclosed.
Barings’ investment was made through the firm’s asset-based finance investment strategy, which has more than $70 billion in assets under management.
“We are excited to begin this partnership with Crebrid, which builds on our more than three-decade track record of activity within the residential whole loan sector,” Jim Moore, head of asset-based finance at Barings, said. “We’re looking forward to working with Tim and the Crebrid team to support their growth strategy and capitalize on the compelling investment opportunity for our investing clients in the attractive and growing RTL sector.”
“Today’s announcement represents a transformational milestone for the RTL industry,” Tim Jordan, president of Crebrid, said. “Barings’ capital and support will better position us to build from a $1 billion deployment target in the first year to our goal of reaching $3-5 billion in annual originations by 2030. We will do this by expanding into additional markets, further enhancing our technology capabilities, and continuously improving our industry-leading, high-touch customer service that makes us a lender of choice in the markets where we operate.”
