Pagaya And Castlelake Launch $500M Auto Loan Forward Flow Deal, Expanding Partnership Across Personal And Auto Loan Asset Classes

Benzinga·11/03/2025 13:43:31

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New deal marks a debut in Auto forward flow agreements for Pagaya and Castlelake, as institutional investor demand for Pagaya's auto assets remains strong
Pagaya and Castlelake investment relationship now spans two asset classes: personal and auto loans
Pagaya continues funding diversification with multi-billion dollar capacity across both personal and auto loans

Pagaya Technologies LTD. (NASDAQ:PGY) ("Pagaya" or "the Company"), a global technology company delivering AI-driven product solutions for the financial ecosystem, today announced a new forward flow agreement with Castlelake, L.P. ("Castlelake"), a global alternative investment firm specializing in asset-based private credit, for the purchase of up to $500 million of auto loans sourced through Pagaya's platform.

The agreement marks Pagaya and Castlelake's first auto forward flow transaction and has the potential to significantly accelerate Pagaya's auto lending platform, alongside its AAA-rated auto ABS program, reflecting Pagaya's strong credit performance.

Pagaya's partnership with Castlelake now spans funding across two asset classes – personal loans and auto loans. It exemplifies Pagaya's strategic efforts to grow funding partnerships into long-term, enterprise-level relationships, unlocking efficient and scalable capital solutions that enable its self-funded growth model.

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