Building a private mortgage insurance platform for single-family mortgage loans
Founded in 2008, Essent is a Bermuda-domiciled private mortgage insurer, approved by Fannie Mae and Freddie Mac and licensed nationwide. Essent was founded by a consortium including Newlight Partners to capitalize on supply / demand imbalance in the mortgage insurance industry during the Global Financial Crisis. Essent offers private mortgage insurance for single-family mortgage loans in the United States, providing private capital to mitigate mortgage credit risk for lenders and investors. Essent priced its initial public offering in 2013, and Newlight Partners fully exited in 2016.
- Status: Realized
- Investment Year: 2008
- Region: North America