Global Atlantic acquires majority stake in eRESI Mortgage

CHARLOTTE, N.C.--(BUSINESS WIRE)--eRESI Mortgage, LLC (“eRESI”), an innovative mortgage funding platform that offers comprehensive private capital solutions to the residential mortgage market, today announced that subsidiaries of The Global Atlantic Financial Group LLC (“Global Atlantic”), a leading life and annuity insurance company, have made a strategic investment and capital commitment to become its majority owner. eRESI Mortgage will continue to operate under a newly formed entity, eRESI Capital LLC, being led by Gregory Tsang (CEO) and Tim Wang (President).

Founded in 2019, eRESI is a leading capital provider in the Non-Agency residential whole loan market. The company provides a wide range of customized products and liquidity solutions to its national network of mortgage banking partners. Driven by strong sponsorships and an experienced management team, eRESI has consistently delivered strong client-focused services and helped its business partners grow through different market cycles. eRESI is rapidly expanding its capabilities and capturing market shares in the Non-QM mortgage sector. The new strategic transaction will enable eRESI to further offer and scale a wide spectrum of credit products and services to financial institutions.

“We are excited to have Global Atlantic as a long-term partner, who shares the same vision and goals,” said Gregory Tsang, Chief Executive Officer of eRESI. “This strategic transaction will accelerate our growth and broaden our capabilities of providing capital to the residential mortgage market, which ultimately will benefit individual homeowners. Our unique platform of deep capital markets expertise, credit underwriting, and efficient technology combined with our new partnership will significantly help our clients’ bottom line.”

Anup Agarwal, Chief Investment Officer of Global Atlantic, added, “We are pleased to join forces with eRESI. The Non-Agency loan business is an important part of Global Atlantic’s portfolio. We have been very impressed with the eRESI team and look forward to growing together.”

About eRESI

eRESI's comprehensive private capital access and technology platform is empowering mortgage companies with better liquidity and more efficiency. eRESI continues to expand its Non-Agency market share through enhanced transparency, innovative process, and best-in-class client service. The ability to provide a fully integrated suite of solutions and expansive executions to origination partners and capital markets helps support and benefit the U.S. housing market. Based in Charlotte, NC and Pasadena, CA, eRESI has completed billions in Non-Agency transactions serving a national network of clients.

About Global Atlantic

Global Atlantic Financial Group is a leader in the U.S. life insurance and annuity industry, serving the needs of individuals and institutions. With differentiated investment and risk management capabilities, deep client relationships, and a strong financial foundation, the company has established a track record of delivering proven, value-added solutions and long-term growth. Global Atlantic is a majority-owned subsidiary of KKR, a leading global investment firm that offers alternative asset management across multiple strategies and capital markets solutions. KKR’s parent company is KKR & Co. Inc. (NYSE: KKR).