Pagaya Technologies LTD. announced a new forward flow agreement with funds managed by Blue Owl Capital to purchase up to $2.4 billion in consumer loans. This agreement spans a 24-month period and represents a significant addition to Pagaya's diversified funding program. The forward flow program allows Pagaya to fund loan originations in a capital-efficient manner.
This new partnership with Blue Owl Capital, a leading asset manager with over $250 billion in assets under management, underscores the quality and growing demand for assets generated on Pagaya's network. The agreement complements Pagaya’s market-leading ABS program, which has raised over $26 billion since its inception.
Gal Krubiner, Co-founder and CEO of Pagaya, highlighted the resilience and diversification of their funding program, which continues to support their expanding footprint in the U.S. lending ecosystem. Ivan Zinn, Head of Alternative Credit at Blue Owl, noted the role private credit can play in supporting the U.S. consumer lending industry.
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