The asset manager Apollo Global Management announced the launch of a new subsidiary: Olympus Housing Capital, a new financing strategy for homebuilders. It will focus on providing capital solutions to builders across the United States in order to finance land acquisition and the development necessary to transform approved residential land into finished lots ready for home construction.
The firm also reported that Olympus is led by Chief Executive Officer Andrew Brausa, an industry veteran with more than two decades of experience in residential housing.
The new subsidiary operates at the intersection of several secular trends, including the structural shortage of single-family homes and the growing use of customized private financing solutions by builders.
“This new strategy represents a highly scalable business that is positioned to offer flexible capital solutions in a market with supply shortages and favorable long-term macroeconomic tailwinds,” commented Peter Sinensky and Nancy de Liban, partners at Apollo. “We are delighted to partner with Andrew and leverage his extensive experience and strong track record in the sector,” they added in the statement.
The originations of Olympus are backed by capital from funds managed by Apollo and affiliated balance sheets. The company will target both public and private builders, who increasingly need scalable capital partners to support their growth ambitions and increase the housing supply in the United States.
For his part, Andrew Brausa, Chief Executive Officer of Olympus, said he was “excited to join forces with Apollo to launch Olympus in an environment of strong and growing demand for reliable capital solutions for homebuilders.”
“With a flexible investment mandate and significant operational capabilities, we believe Olympus can deliver value-added services that align with the interests of our clients and the residents of their communities,” he added.
Brausa has more than 20 years of experience in investments. He most recently founded and managed the land financing strategies at Brookfield Asset Management. Previously, he co-founded Domain Real Estate Partners to execute private land financings. He has also managed public market investment portfolios at DW Partners and has held senior investment positions at various global asset managers, such as Jefferies and Citadel, among others.
