Los Angeles-based investment firm Faes & Co has partnered with $4.7bn UK multi-asset manager Triple Point, providing the former with $100m to support the US expansion of its real estate bridging finance business, F2 Finance.
In a statement, Christian Faes, the firm’s CEO, described the funding partnership as “a good foundation to start from as we seek to build one of the leading private lenders in the US”.
Faes co-founded Lendinvest, a private lender in the property market, in 2008, as well as helping to build non-bank lender Onate in Ireland.
James Cranmer, Managing Partner at Triple Point, added: “The US is an exciting growth market for our business. With 20 years of experience operating in private credit, we understand the importance of entering this market at the right time and with the right partner.”
In January, Faes & Co launched its flagship private credit fund, which focuses on short-term residential mortgages tied to the flipping market, according to its website. The firm has helped build direct lending businesses in the UK, Ireland, Australia and the US; these collectively have over $5bn in AUM and employ over 200.
Triple Point was founded in 2004 and provides private market asset origination for its individual, institutional and governmental funding partners. It maintains four investment strategies across housing, the energy transition, private credit and venture capital.
