Faes & Co. has announced a partnership with UK investment manager Triple Point. The company reports that Triple Point holds more than $4.7 billion in funds under management.
The arrangement will see Triple Point provide Faes & Co. with funding to support its lending activities in the US. Faes & Co. is building out a tech stack to support bridge financing for real estate across the US.
Faes & Co. was founded by former LendInvest CEO and founder Christian Faes. LendInvest has emerged as a solid provider of development capital in the UK, facilitating a streamlined funding process, and is now a publicly traded firm.
Faes says that with Triple Point’s support, they have a “line of sight” for their first $100 million of lending in the bridging sector. He says his goal is to become one of the leading private lenders in the US.
“I have worked with the team at Triple Point for nearly 15 years, and they are the first institutional group we spoke to about funding for this business. We really like working with them and we are excited to leverage the support and significant resources of their firm as we build our business here in the US.”
Last year, Faes & Co launched F2 Finance, a business focused on providing short-term loans to ‘property entrepreneurs’ and investors, secured by first lien mortgages against residential property. The company reports that F2 Finance is now active in several states including California, Texas, Florida, Virginia and Washington. The ambition is to go nationwide.
James Cranmer, Managing Partner of Triple Point, says that partnering with someone with Faes’ reputation ensures they are positioned for success.
“We believe the plan for Faes & Co aligns with our ambitions and values, and we look forward to a successful partnership.”