iscover 
AltX Financial Group (AltX), the parent company behind non-bank Assetline Capital, has completed its first residential mortgage-backed securitisation (RMBS).
The asset manager said it has been able to raise $400 million through the transaction, backed by a pool of Australian residential mortgage loans.
This funding will support the growth of the group’s Horizon funding platform, which currently provides residential and commercial mortgage solutions to individuals, self-employed borrowers, companies, trusts, and self-managed super funds (SMSFs).
Horizon’s offering spans prime, near prime, and specialist lending, with both full-doc and alt-doc options available to brokers.
The deal secured backing from 10 institutional investors, with Deutsche Bank and National Australia Bank (NAB) serving as co-arrangers and joint lead managers, while Perpetual Corporate Trust acted as trustee and trust manager.
AltX co-founder and co-CEO Nick Raphaely said the transaction represented a significant milestone for the business.
“Building access to diversified institutional funding gives us a stronger platform from which to grow our mortgage business and continue investing in the proposition we bring to brokers,” he said.
“Ultimately, this is about giving brokers greater confidence in Horizon as a long-term lending partner and continuing to build a more competitive and flexible proposition for their clients.”
Meanwhile, AltX co-founder and co-CEO Steven Beinart said the transaction would support the funding platform’s growth through the broker channel.
“We see significant opportunity to continue growing Horizon through the broker channel. This transaction gives us a stronger foundation to do that, while we continue investing in the product, pricing and policy settings that give brokers more ways to find a solution for their clients,” he said.
“Our ambition is to make Horizon a bigger part of the consideration set for Australian brokers, and this milestone is an important step towards that goal.”
AltX group treasurer Wayne Miller also commented on the transaction, saying it reflected the confidence from investors in the asset manager’s long-term strategy.
“The successful pricing of Horizon 2026-1 reflects the quality of the underlying portfolio and the confidence institutional investors have in AltX’s underwriting, servicing and risk management capabilities,” he said.
“Completing our inaugural RMBS transaction broadens AltX’s access to institutional capital, further diversifies our funding sources and establishes a scalable securitisation platform to support Horizon’s continued growth.”
[Related: Assetline Capital appoints national leadership team for private lending]
Want to see more stories from trusted news sources?Make Broker Daily a preferred news source on Google.