Posted on 03/11/2021

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

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

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

Nomura Securities International, Inc. acted as financial advisor and Sidley Austin LLP 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 stake in Anchor Loans. Prior to the 2019 acquisition, Anchor Loans tapped Wafra Capital Partners as a partner in 2015, in which Wafra provided $ 500 million in financing for loans.

The Kuwait Public Social Security Institution (PIFSS) owns Wafra.

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