Millennium Funding Group Acquired by Private Equity Investor
Roark Capital Group, an Atlanta-based private equity firm, announced today the acquisition of Millennium Funding Group by Ace Mortgage Funding, a Roark portfolio company. Millennium is a wholesale loan originator that currently funds over $1 billion of annual volume through a network of 4,000 approved brokers primarily located in the Western U.S. and Florida. Millennium will become a wholly-owned subsidiary of Ace, a retail mortgage broker originating over $3 billion in residential mortgages through 700 loan officers at 26 locations licensed in 42 states. Millennium is Roark's fourth acquisition in the financial services sector.