- NEWS PROVIDED BY
- Kingsbridge Alternative Strategies Fund, LP
- Kingsbridge Partners, LLC
- Kingsbridge Wealth Management, Inc.
- February 22th, 2023
NEW YORK, NY,— Kingsbridge Partners, LLC and the Kingsbridge Alternative Strategies Fund, LP (Kingsbridge), a leading investor in Home Equity Investments (HEIs), announced today that they have secured a $50 million revolving credit facility from East West Bank. The revolving credit facility will provide debt capital for the financing of the ongoing purchases of Point’s Home Equity Investments.
Kingsbridge has been a pioneering investor in the HEI space since 2016 as a key partner with Point, the leader in HEIs, and the Kingsbridge Alternative Strategies Fund, LP has built a multi-year track record, exclusively investing in HEIs.
Kingsbridge grew assets by 60% in 2022 and the addition of debt financing from East West Bank, will continue to accelerate growth in 2023. Kingsbridge has committed to more than $300 million to forward flow purchases of HEIs. Kingsbridge will continue to increase purchases of HEIs at a time when homeowner demand for HEIs is growing at an unprecedented rate, and Kingsbridge’s HEI origination partners are more than ready to meet the increased consumer demand. Point saw a more than 120 percent increase in applications for an HEI in 2022 compared to 2021.
For U.S. homeowners, Point’s Home Equity Investment is an emerging financial solution that provides homeowners access to liquidity, using the equity they built in their home, without taking on additional debt.
For Institutional Investors like Kingsbridge, Home Equity Investments provide attractive risk-adjusted returns with historically low volatility, a perceived positive correlation to inflation, and a perceived low correlation to public investment markets.
This press release is for informational purposes only and is not an offer to sell interests in any fund or investments. Any offer will be made only by means of a private placement memorandum.
Statements in this press release have “forward-looking statements,” and are subject to known and unknown risks and uncertainties that may cause actual outcomes to differ materially.
Kingsbridge Wealth Management, Inc. is a registered investment adviser based in Las Vegas, Nevada. The Company’s wholly-owned subsidiary, Kingsbridge Partners, LLC is the General Partner and sponsor of the Kingsbridge Alternative Strategies Fund, LP. The Kingsbridge Alternative Strategies Fund, LP is an unregistered private fund, open to accredited investors and qualified clients, that is a leading investor in Home Equity Investments (HEIs). For more information, visit the Company’s website at www.kingsbridgealts.com.
About East West
East West Bancorp, Inc. is a public company with total assets of $64.1 billion and is traded on the Nasdaq Global Select Market under the symbol “EWBC”. The Company’s wholly-owned subsidiary, East West Bank, is the largest independent bank headquartered in Southern California, operating over 120 locations in the United States and in Asia. The Company’s markets in the United States include California, Georgia, Illinois, Massachusetts, Nevada, New York, Texas and Washington. In China, East West’s presence includes full-service branches in Hong Kong, Shanghai, Shantou and Shenzhen, and representative offices in Beijing, Chongqing, Guangzhou, Xiamen. East West also has a representative office in Singapore. For more information on East West, visit the Company’s website at www.eastwestbank.com.
Point is a home equity platform that makes home wealth more valuable for everyone. With a Home Equity Investment (HEI) from Point, homeowners can unlock their home equity, eliminate debt, get through periods of financial hardship, and diversify their wealth. For investors, Point provides access to a previously untapped asset class in the residential real estate space. Founded in 2015 by Eddie Lim, Eoin Matthews, and Alex Rampell, Point is backed by top investors, including Westcap, Andreessen Horowitz, Ribbit Capital, Greylock Partners, Bloomberg Beta, Redwood Trust, Atalaya Capital Management, Kingsbridge Wealth. Management, Deer Park Road Management, The Palisades Group, Alpaca VC, and Prudential. To date, Point has raised over $175 million in equity capital. The company is headquartered in Palo Alto, CA. For more information, please visit www.point.com, LinkedIn, or Twitter.