AmWest Funding Corporation Continues Strong Growth in 2024 with New Strategic Partnership

Core Insights - AmWest Funding Corporation and Ares Management Corporation have finalized a joint venture to invest in Non-QM loans, leveraging AmWest's strong position as a mortgage originator and servicer with over $15 billion in Non-QM mortgage originations since inception [1][2] - Ares will provide 90% of the joint venture's capital, while AmWest will contribute the remaining 10%, aiming to capitalize on the current market environment and enhance their operational capabilities [1][3] - The joint venture plans to securitize mortgage loans using the HOMES and PRKCM shelves, building on AmWest's successful track record of securitizing $3.1 billion in unpaid principal balance over the last three years [1][2] Company Overview - Ares Management Corporation is a leading global alternative investment manager with approximately $419 billion in assets under management as of December 31, 2023, focusing on various asset classes including credit, private equity, real estate, and infrastructure [4] - AmWest Funding Corporation, founded in 1995, specializes in originating various types of residential mortgage loans, including FHA, VA, USDA, and Non-QM loans, with a management team averaging two decades of experience [5][6] - Park Capital Management, an affiliate of AmWest, invests in residential mortgage loans and has expertise in capital markets execution, supporting the joint venture's objectives [7]