Cornerstone Financing announces $285 million financing from Aquiline and Nomura
Investment backs CHEIFS, a new funding solution converting home equity into advisor-driven financial solutions
Bloomfield, NJ, October 29, 2024 – Cornerstone Financing, an insurance and investment funding company, has secured $285 million in aggregate financing through global finance investment firms Aquiline Capital Partners LP (“Aquiline”) and Nomura.
The financing supports the expansion of CHEIFS (Cornerstone Home Equity Insurance/Investment Funding Solutions), Cornerstone’s transformational funding solution that allows homeowners to sell a fraction of their home for cash to fund insurance, annuities, long-term care, and other financial and life planning options.
“Partnering with these prestigious institutions affirms our commitment to providing advisors with innovative home equity solutions,” said Daniel Anderson, co-founder of Cornerstone. “With streamlined distribution through our network of advisors, Cornerstone, through its CHEIFS program, offers a uniquely efficient model that maximizes value and enhances advisor-client financial planning strategies.”
A new funding solution for insurance and financial advisors, CHEIFS revolutionizes the home equity landscape by augmenting the evolving financial toolkit for advisors and homeowners.
Currently operating in Arizona, California, Florida, and Pennsylvania, Cornerstone intends to expand nationally, supported by the $285 million financing and is actively seeking to expand its distribution partnerships.
“We are proud to support Cornerstone in the expansion of CHEIFS,” said Timothy Gravely, Partner and Head of Credit for Aquiline. “This product addresses a critical gap we observed through our participation in the insurance market, and we are excited to back the solution.”
About Cornerstone Financing:
Cornerstone Financing empowers homeowners to access home equity to plan for a better financial future. Founded by Craig Corn and Daniel Anderson, Cornerstone merges structured finance and insurance wholesale distribution through its innovative product, CHEIFS, to utilize previously untapped home equity to enable superior estate, insurance, and investment planning through trusted advisors.
For more information about its foundational solution, CHEIFS, visit www.cheifs.com.
About Aquiline Capital Partners LP:
Aquiline is a private investment firm based in New York, London, Philadelphia, and Greenwich, Connecticut, that is dedicated to financial services and technology. As of June 30, 2024, Aquiline has approximately $10.8 billion of assets under management and has deployed approximately $7.0 billion of capital across the firm’s three strategies in private equity, venture capital, and credit.
