Allens advises Bluestone and Cerberus on $2bn fintech funding deal

Allens has advised Bluestone Mortgages and Cerberus Capital Management L.P. on a funding partnership to provide up to $2 billion of whole-loan funding to Athena Home Loans over the next three years.

The partnership represents one of Australia’s largest fintech whole-loan funding agreements.

Bluestone, a leading non-bank lender specialising in residential home loans, is backed by an affiliate of global alternative investment leader Cerberus. Athena is one of Australia’s fastest growing fintechs and uses an innovative platform to link consumers with wholesale home loan funding from leading financial institutions.

Allens assisted Bluestone and Cerberus to establish the forward flow whole-loan sale arrangement.

‘We congratulate Bluestone and Cerberus on the establishment of this strategic partnership. We are proud to be part of the drive for innovation in the market,’ said lead Partner Benjamin Downie.

‘Cerberus and Allens have a deep relationship in Australia and offshore. We are delighted to assist them and Bluestone on this transaction – a significant addition to their portfolio of investments in the region,’ said Partner Noah Obradovic.

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