AltX raises $290M in debut mortgage-backed securitisation
What's the deal? AltX Financial GroupDealroom has a profile for this one. Try Dealroom →, the Australian parent of non-bank lender Assetline CapitalDealroom has a profile for this one. Try Dealroom →, has completed its first residential mortgage-backed securitisation (RMBS), raising A$400 million (roughly $290 million). The deal was backed by a pool of Australian residential mortgage loans and drew 10 institutional investors.
Who's involved? Deutsche BankDealroom has a profile for this one. Try Dealroom → and National Australia Bank served as co-arrangers and joint lead managers, while Perpetual Corporate Trust acted as trustee and trust manager.
What's the endgame? The funds will support AltX's Horizon funding platform, which offers residential and commercial mortgage products to individuals, self-employed borrowers, companies, trusts, and self-managed super funds. Horizon spans prime, near prime, and specialist lending, with full-doc and alt-doc options for brokers.
Why it matters: The deal, dubbed Horizon 2026-1, gives AltX a scalable securitisation platform and a new channel to institutional capital. "Building access to diversified institutional funding gives us a stronger platform from which to grow our mortgage business," said co-founder and co-chief executive officer Nick Raphaely.
Group treasurer Wayne Miller said the pricing "reflects the quality of the underlying portfolio and the confidence institutional investors have in AltX's underwriting, servicing and risk management capabilities."
The signal: By tapping the securitisation market, AltX joins a growing field of non-bank lenders diversifying their funding to compete with the major banks. Co-chief executive officer Steven Beinart framed the ambition plainly: to make Horizon "a bigger part of the consideration set for Australian brokers."
Read more: brokerdaily.au
