Apollo has named Andrew Brausa chief executive officer of a newly formed US homebuilder finance company.
The asset manager has launched Olympus Housing Capital to focus on providing capital solutions to homebuilders across the US to finance land acquisition and development work required to transform entitled residential land into finished lots ready for home construction.
Apollo partners Peter Sinensky and Nancy de Liban, said: “Olympus sits at the epicentre of multiple focus areas for Apollo and builds upon our expertise in residential real estate and asset-backed finance origination.
“This new strategy represents a highly scalable business that is poised to deliver flexible capital solutions to an underbuilt market with favourable long-term macroeconomic tailwinds, and we are pleased to partner with Andrew and leverage his extensive experience and strong track record in the sector.”
Brausa, who joined Apollo in March this year, brings more than 20 years of investment experience. Most recently, he established and led Brookfield Asset Management’s land financing strategies. His prior experience includes co-founding Domain Real Estate Partners, where he focused on private land financings.
Brausa also managed public market investment portfolios at DW Partners and held senior investment positions at various global asset managers.
Brausa said: “I am excited to join forces with Apollo to launch Olympus amid robust and growing demand for reliable homebuilder capital solutions. With a flexible investment mandate and significant operating capabilities, we believe Olympus can provide value-add services that align with the interests of our clients and their community residents.
“I look forward to collaborating with Nancy, Peter and the Apollo team as we seek to scale the strategy and solve a critical funding need helping facilitate new home ownership across the country.”
To read the latest IPE Real Assets magazine click here.
