Blue Owl Commits $2.5b To Foa, Invests $50m In Equity

Funds managed by Blue Owl Capital have committed $2.5 billion to expand Finance of America Companies’ (FOA) home equity offerings and are also investing $50 million in equity in the reverse mortgage lender, the companies announced on Friday. 

It’s the latest in a string of Blue Owl moves in the home equity space, including a separate $2.5 billion commitment this week to home equity investment (HEI) firm Point. FoA, meanwhile, closed a partnership with Better Home & Finance Holding Co. in the home equity space and acquired $9.6 billion in mortgage servicing rights (MSRs) and PHH Mortgage Corp.’s pipeline of reverse mortgages from parent company Onity Group.

FoA CEO Graham Fleming called this a pivotal moment for the senior finance market, saying the partnership with Blue Owl aims to build “a platform of scale and innovation to better serve one of the fastest-growing demographics in the United States.” FoA estimates that more than 10,000 Americans reach retirement age every day.

Blue Owl is providing $2.5 billion in liquidity to support FoA’s product innovation across multiple asset classes. FoA, which targets retirement-focused financial solutions, plans to expand beyond reverse mortgages into a full-spectrum home equity lending platform. The $50 million equity investment is intended to align the firms’ long-term strategies.

“This partnership provides the capital, the strategic alignment and the innovation engine to build category-defining products at scale,” said Ray Chan, senior managing director and co-head of asset based finance at Blue Owl.

Like its peers, FoA has been leaning into proprietary reverse mortgage products, which accounted for more than 35% of industry volume through the first three quarters of the year. 

The company reported a $29 million loss in the third quarter of 2025, though revenue climbed sharply due to growth in its home equity lending models and expanded partnerships. FoA funded $1.97 billion in reverse mortgages in the first ten months of the year, surpassing its 2024 total of $1.92 billion, president Kristen Sieffert told investors during the Q3 earnings call.