Pagaya Technologies LTD. announced a new forward flow agreement with Castlelake, L.P., a global alternative investment firm. This agreement commits Castlelake to purchase up to $2.5 billion of personal loan assets over a 16-month term, subject to closing conditions. This significantly expands Pagaya's funding capacity for its personal loan program.
This new deal builds upon a previous forward flow agreement signed in 2024, which committed up to $1 billion in capital over a 12-month period. The expanded partnership underscores the improving diversification and efficiency of Pagaya's funding infrastructure, bolstering its growth, earnings power, and cash flow profile.
CFO Evangelos Perros stated that this agreement reinforces Pagaya's self-funded growth plan without the need to raise equity capital. Sanjiv Das, President and Co-Founder, highlighted that the continued expansion of their funding program demonstrates Pagaya’s ability to consistently deliver attractive assets to investors and accelerate platform growth.
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