First RTL of 2026 showcases strong investor appetite amid ongoing geopolitically-fueled market uncertainty, further institutionalizing the sector

Fidelis Investors (“Fidelis”), a leading alternative asset manager with more than $1 billion in assets under management, today announced the closing of its third rated Residential Transition Loan (RTL) securitization, FIDL 2026-RTL1.

Rated by Morningstar DBRS, FIDL 2026-RTL1 is a two-year revolving, $143.925mm securitization backed by 330 RTLs across 29 different lenders, led by Unitas Funding, LLC, a wholly owned subsidiary of Fidelis. Additional eligible RTLs may be added to the portfolio in future transfer periods, subject to the transaction’s eligibility criteria.

“Securitizing in choppy markets is a testament to Fidelis’ strong operational platform,” said Brian Tortorella, Managing Partner at Fidelis. “While recent geopolitical challenges have shaken markets, investors continue to see reliable, long-term value in capital markets solutions that quickly and efficiently create more affordable homes nation-wide.”

Fidelis’ third securitization comes as investors grapple with serious economic uncertainties stemming from the recently announced tariffs to the military conflict in the Middle East. That said, alternative asset investors are seeking stronger returns on investments that are backed by tangible collateral they can depend on. This most recent securitization, including repeat and new participants, showcases the steady prospects for growth investors see in the housing rehabilitation financing space.

“The launch of our third RTL securitization demonstrates not just how much faith investors have in this asset class backed by real, tangible assets, but how RTLs have quickly become a more institutionally embraced asset class,” said Michael Tessitore, Managing Partner at Fidelis. “Investors realize just how serious our country’s affordable housing shortage is and see the opportunity to support housing rehabilitation financing as one that tackles a national challenge while delivering reliable returns.”

“Jefferies is pleased to assist Fidelis Investors to attain strong securitization execution with a well-diversified orderbook,” said Jordan Rothstein, Head of ABS Trading and Distribution at Jefferies. “We look forward to supporting them on their continued momentum in the market.”

“Congratulations to Fidelis Investors on the successful completion of their third rated RTL securitization, especially amid heightened volatility and risk aversion in today’s environment,” added Chris Schmidt, Managing Director at Jefferies. “We’re proud to support Fidelis as they continue to access the securitized markets.”

Jefferies served as sole lead manager and bookrunner.

About Fidelis Investors
Founded in 2020 and headquartered in Cranford, New Jersey, Fidelis Investors is an alternative asset manager serving institutional investors with strategies across mortgage debt, structured finance, asset-based lending, and real estate. Fidelis has invested approximately $4.5 billion through 16 Mortgage & Real Estate Debt Funds and continues to lead efforts to modernize access to housing-related credit with transparent, scalable solutions. https://www.fidelis-investors.com/

About Jefferies
Jefferies is a leading global, full-service investment banking and capital markets firm that provides advisory, sales and trading, research, and wealth and asset management services. With more than 40 offices around the world, Jefferies offers insights and expertise to investors, companies, and governments.

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