Castlelake Agrees to Purchase up to $1.2 Billion of Consumer Installment Loans Originated on Upstart’s Platform

June 20, 2024

https://www.prnewswire.com/news-releases/castlelake-agrees-to-purchase-up-to-1-2-billion-of-consumer-installment-loans-originated-on-upstarts-platform-302177888.html

MINNEAPOLIS, June 20, 2024 /PRNewswire/ — Castlelake, L.P. (“Castlelake”), a global alternative investment manager specializing in asset-based private credit investments, has reached an agreement to purchase up to $1.2 billion of consumer installment loans from Upstart (NASDAQ: UPST), an artificial intelligence (AI) lending marketplace. The purchase agreement consists of a 12-month forward flow arrangement and follows a 2023 agreement with Upstart.

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