Point and Funds Managed by Blue Owl Capital Close Oversubscribed $390 Million Home Equity Investment Rated Securitization

Point completes its sixth rated securitization, the largest bond issuance in the home equity investment space to date, signaling further maturation of the asset class

Point, the leading home equity investment platform making homeownership more valuable and accessible, and funds managed by Blue Owl Capital (“Blue Owl”) announced that they have completed a rated securitization of Point’s Home Equity Investment (“HEI”) assets, issuing $390 million of rated asset-backed securities (the “Transaction”), marking Point’s third securitization of 2025 and continuing the firm’s record of programmatic issuance.

The Transaction closed on October 28th, 2025. The issuer, Point Securitization Trust 2025-2, issued $254.2 million of senior class A-1 securities rated A (low) (sf), $46.6 million of mezzanine class A-2 securities rated BBB (low) (sf), $45.9 million of subordinate class B-1 securities rated BB (low) (sf), and $43.3 million of subordinate class B-2 securities rated B (high) (sf) (retained), all rated by Morningstar DBRS. A portion of the notes was acquired by accounts managed by an affiliate of Blue Owl. The Transaction attracted 29 unique investors, including eight new entrants to the Point securitization platform, resulting in over $1.6 billion in orders, and underscoring the continued institutional interest and confidence in Point’s program. Co-sponsoring the Transaction with a subsidiary of Blue Owl, Point was the originator of all the HEIs in the securitization and will continue to service the assets.

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In addition to complying with U.S. credit risk retention rules, the Transaction is the first HEI securitization to include undertakings related to both the EU Securitization Regulation and the UK Securitization Framework, as well as the transparency requirements of the EU Securitization Regulation. These steps further position Point’s securitization platform to meet the standards of European and UK institutional investors, reflecting Point’s commitment to broadening global access to the HEI market.

“Building on the strong momentum of PNT 25-1, this transaction reflects growing confidence in home equity investments as a mainstream asset class,” said Eddie Lim, co-founder and CEO of Point. “As homeowners and investors continue to seek flexible, sustainable ways to unlock and deploy capital, Point is proud to lead with consistency, transparency, and execution.”

Since pioneering the HEI category in 2015, Point has closed six securitizations and continues to set benchmarks for liquidity, scalability, and transparency in alternative home equity financing.

“This marks the third transaction that Blue Owl has co-sponsored alongside Point. We were able to combine legacy seasoned collateral we acquired earlier this year with new originations purchased directly from Point to issue the largest public HEI securitization to date,” said Ivan Zinn, Head of Alternative Credit at Blue Owl. “Blue Owl and Point have a longstanding relationship dating back to 2018, and we are excited to continue working with the Point team.”

Barclays Capital Inc. (“Barclays”) was the sole-structuring agent for the issuance. Barclays, Nomura Securities International Inc., and Cantor Fitzgerald & Co. were joint bookrunners on the Transaction, and East West Markets, LLC and StoneX Financial Inc. were co-managers on the Transaction.