Deal: Allens has advised Bluestone Mortgages and Cerberus Management L.P. on a funding partnership to provide up to $2 billion of whole-loan funding to Athena Home Loans over the next three years.

Value: $2 billion.

Area: M&A.

Key players: The Allens team was led by partner Benjamin Downie from the firm’s banking and finance team. Also providing support was partner Noah Obradovic, from the firm’s mergers and acquisitions team.

Deal significance: According to the firm’s statement, the partnership between Bluestone and Cerberus represents one of Australia’s largest fintech whole-loan funding agreements.

Bluestone, a leading non-bank lender specialising in residential home loans, is backed by an affiliate of global alternative investment leader Cerberus. Athena is one of Australia’s fastest-growing fintechs and uses an innovative platform to link consumers with wholesale home loan funding from leading financial institutions.

Allens assisted Bluestone and Cerberus to establish the forward flow whole-loan sale arrangement.

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“We congratulate Bluestone and Cerberus on the establishment of this strategic partnership. We are proud to be part of the drive for innovation in the market,” said lead partner Mr Downie.

“Cerberus and Allens have a deep relationship in Australia and offshore. We are delighted to assist them and Bluestone on this transaction – a significant addition to their portfolio of investments in the region,” said partner Mr Obradovic.