New Residential Investment’s $1.675 Billion Acquisition of Caliber Home Loans

Mayer Brown represented Lone Star Funds in the transaction.

Lone Star Funds completed the sale of its portfolio company, Caliber Home Loans, Inc., for $1.675 billion in cash to New Residential Investment Corp. (“New Residential”), combining two leading non-bank originators and servicers of mortgage loans.

New Residential intends to bring together the platforms of Caliber and NewRez LLC, New Residential’s wholly owned mortgage originator and servicer. The transaction is intended to close as quickly as possible, subject to various approvals and customary closing conditions, and is targeted for the third quarter of 2021.

The Mayer Brown team for Lone Star Funds was led by Capital Markets partner Jon Van Gorp (Picture), M&A partner Elizabeth Raymond (both Chicago) and Financial Services Regulatory & Enforcement partner Larry Platt (Washington DC) and included: Employment & Benefits partner Stephanie Vasconcellos; Tax Transactions & Consulting partner Jim Barry; M&A associates Carson Jackson, Joshua La Vigne and Christopher Pochon and counsel Mike Serafini (all Chicago); Financial Services Regulatory & Enforcement partners Lauren Pryor and Krista Cooley, associates Kerri Elizabeth Webb and Anjali Garg and regulatory compliance analysts Jeffrey Prost and Dameian Buncum (all Washington DC); Capital Markets partner David Schuette; Technology Transactions partner Rebecca Eisner and associate Julian Dibbell (all Chicago); Banking & Finance partner Adam Wolk (New York) and associate Brian Kent (Chicago); Antitrust partner Scott Perlman and counsel Meytal McCoy (both Washington DC); Labor & Employment counsel Kim Leffert; and Intellectual Property partner Richard Assmus and associate Emily Nash (all Chicago).

Involved fees earner: Richard Assmus – Mayer Brown; James Barry – Mayer Brown; Krista Cooley – Mayer Brown; Julian Dibbell – Mayer Brown; Rebecca Eisner – Mayer Brown; Anjali Garg – Mayer Brown; Carson Jackson – Mayer Brown; Brian Kent – Mayer Brown; Joshua La Vigne – Mayer Brown; Kim Leffert – Mayer Brown; Meytal McCoy – Mayer Brown; Emily Nash – Mayer Brown; Scott Perlman – Mayer Brown; Laurence Platt – Mayer Brown; Christopher Pochon – Mayer Brown; Lauren Pryor – Mayer Brown; Elizabeth Raymond – Mayer Brown; David Schuette – Mayer Brown; Michael Serafini – Mayer Brown; Jon Van Gorp – Mayer Brown; Stephanie Vasconcellos – Mayer Brown; Kerri Elizabeth Webb – Mayer Brown; Adam Wolk – Mayer Brown;

Law Firms: Mayer Brown;

Clients: Lone Star Funds;

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Martina Bellini

Author: Martina Bellini