Head of Capital Formation

Local in Palo Alto or 100% Remote within the USA

WHO WE ARE

Our mission at Point is to make homeownership more valuable and accessible to all. Every day, we explore, build, and iterate to create innovative financial products that improve the lives of our customers. Together, we’re creating the premier full-stack home equity platform to help current homeowners access their home wealth and aspiring ones realize their dream of homeownership. Point has raised over $180M from Andreessen Horowitz, WestCap, Prudential and other leading investors.

Point has teamed up with SG Partners, a specialized boutique executive search firm focused on catering to clients within the global financial services industry, to spearhead this search.

About the role

Point is facilitating access to over $20 trillion in locked-up residential home equity. Point has invested over $1 billion in Home Equity Investments (HEIs) with $550 million invested in 2022 alone. Notably, Point recently finalized its inaugural rated securitization of HEIs, PNT-2023-1. With HEIs going "investment grade", the Head of Capital Formation will play a pivotal role in expanding the HEI asset class. The company aims to surpass $10 billion in funded HEIs per year within 5 years.

Capital is the lifeblood of the HEI product: your role is to introduce institutional investors to Point and the HEI asset class. Reporting directly to the Co-founder/Chief Business Officer, your primary responsibility is to source institutional capital commitments with an emphasis on permanent capital. Depending on the investor, these commitments may take the form of forward flow agreements, GP/LP investments, warehouse facilities, term financing, securitizations, joint ventures or other structures.

While acting as the chief advocate for HEIs among institutional investors, you'll also collaborate closely with internal teams in Investor Operations, Analytics, Risk, Capital Markets/Structuring, Legal, and Regulatory. Together, you'll craft marketing materials, present opportunities, structure deals, oversee due diligence processes, and ensure investors gain a comprehensive understanding of the asset class and its potential.

Your responsibilities

• Establish HEIs as an attractive asset class through education for institutional investors
• Identify and prioritize institutional investor accounts
• Develop marketing and sales plan tailored to target clients
• Cultivate and manage relationships with various long-term capital providers (insurance, pension, sovereign wealth, endowment)
• Oversee the creation of investor-facing materials, case studies, diligence responses and other supporting collateral
• Provide regular updates on pipeline progress, industry trends, and the capital raising environment
• Structure deal terms to align with investor objectives and capabilities (flow, LP, SMA, JV, CUSIPs, term financing, etc.)
• Collaborate closely with internal Investor Operations and Legal teams to progress deals from term sheet to closing
• Ensure a seamless onboarding process for investors
• Enhance Point’s reputation as a leading partner among investment collaborators
• Offer clear and constructive feedback to internal teams regarding new opportunities and areas for improvement
• Collaborate with colleagues on all capital formation projects, investor operations, and other priority initiatives that come up 

About you

• Experience: over 7 years in capital formation/fundraising
• Required scale: secured significant flow/fund commitments for alternative strategies like ABS / mortgage / residential real estate
• Background:
  • Proven track record raising capital (flow or fund) from institutional investors with permanent capital (pensions, endowments, sovereign wealth funds, large family offices)
  • Previous roles at top-tier alternative asset managers or hedge funds
  • Strong knowledge and experience in structured finance is highly beneficial
    • It's advantageous if your career path initially involved a technical role, such as that of an Analyst
  • Product / Market expertise: experience in mortgage, SFR, RTL, or relevant ABS markets required
  • Personal attributes: 
    • Keen internal motivation, high accountability, trustworthiness
    • Excellent communication skills
    • Committed to learning, meticulous attention to detail
    • Entrepreneurial mindset, collaborative nature

Compensation

Point expects the annual base salary range for this role to be $300,000 to $400,000. This d