Houlihan Lokey Advises Newfi

Houlihan Lokey is pleased to announce that Newfi, a technology-driven multichannel mortgage lender, has been acquired by Athene (NYSE:ATH) from Warburg Pincus. The investment in Newfi will be managed by Apollo (NYSE:APO). The transaction closed on February 2, 2022.

The transaction marks the next chapter in Newfi's evolution, allowing the company to expand its footprint and compound its expertise in the non-agency mortgage space. This transaction comes at a time of significant momentum for Newfi, which continues to experience record earnings growth and volume in 2021.

Based in Emeryville, California, Newfi is reshaping the borrowing experience for homeowners through a combination of proprietary technology and product innovation. The company has a national presence with a strong focus on non-agency lending and a growing consumer direct outlet. With this transaction, the company will continue to invest in its infrastructure and look to capitalize on the significant growth opportunity.

Founder and CEO Steve Abreu will continue to lead Newfi and will retain his equity position. Co-founder Michelle Constantine will also remain as the company's Chief Risk Officer. Together, they have taken the company from a small operation to a multifaceted lender with over $6 billion in originations and a strong trajectory for growth.

Houlihan Lokey served as exclusive financial advisor to Newfi.

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