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.
- 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
- Experience: over 7 years in capital formation/fundraising
- Required scale: secured significant flow/fund commitments for alternative strategies like ABS / mortgage / residential real estate
- 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
Point expects the annual base salary range for this role to be $300,000 to $400,000. This does not include any other potential components of the compensation package, including equity, benefits, and perks outlined. At the launch of each position, we benchmark compensation to the appropriate role and level utilizing competitive compensation data from various data sources as references. At the offer stage, we use the signal we received from our interviews coupled with your experience, location, and other job-related factors to determine final compensation.
Generous health benefits
- We provide medical, dental, and vision plans with options for flexible spending accounts (FSA) and health savings accounts (HSA). Point covers 99% of employee medical, dental, and vision premiums.
Unlimited paid time off
- Recharge with unlimited paid time off and 10 company holidays.
Flexible remote & onsite work
- Our teams work from many different locations and time zones. We support fully remote work and also have an amazing in-person environment in our downtown Palo Alto, CA HQ.
Fully paid parental leave
- Point will true-up wages from state-applicable PFL earnings so that the employee’s total gross pay will be equivalent to 100% of their regular base pay, as well as two weeks of fully paid leave to be available after exhaustion of state PFL. For employees in states without Paid Family Leave, Point will provide up to 8 weeks of paid parental leave. In addition, all employees will receive 4 weeks of fully paid transition time. For four weeks after returning from parental leave, and following the use of all other paid leave benefits, you may work part-time, meaning two or three days per week, and receive 100% of regular base pay.
- We provide 401K retirement plans for employees as well as guaranteed life insurance and short- and long-term disability coverage. Full-time employees have the opportunity to take ownership of the company through equity options.
Extra work / life benefits
- We provide monthly stipends for internet, mobile plans, and a one-time home office reimbursement.
Point is proud to be an equal-opportunity employer. We provide employment opportunities regardless of age, race, color, ancestry, national origin, religion, disability, sex, gender identity or expression, sexual orientation, veteran status, or any other protected class. Each individual at Point brings their own perspectives, work experiences, lifestyles, and cultures with them, and we believe that a more diverse team creates more innovative products, provides better services to customers, and helps us all grow and learn.