Leading Home Equity Provider Spring EQ Completes Sale to Cerberus
Summary
With the completion of the transaction, Spring EQ officially joins Cerberus’ Residential Opportunities platform to take the next step in its journey to deliver best-in-class offerings and expand its leadership in the home equity financing market. Founder and Chief Executive Officer Jerry Schiano, alongside the current management team, will continue to lead Spring EQ. “ With Cerberus, we’ll harness our combined expertise and resources to deliver premier service, tailored solutions, and exceptional digital experiences on a greater scale. Spring EQ offers a broad range of home equity products and delivers a simple and streamlined process that results in faster funding, trustworthy loans, and less frustration for consumers today. Founded in 1992, Cerberus is a global leader in alternative investing with approximately $65 billion in assets under management across complementary credit, private equity, and real estate strategies.