Upstart AnnouncesA Programmatic Purchase Commitment From Funds Managed By Blue Owl Capital Inc; Blue Owl's Alternative Credit Strategy Will Purchase Up To $2B Of Consumer Loans On The Upstart Platform Over 18-Months. The Transaction Includes An Initial Acquisition Of A $290M Personal Loan Portfolio, Which Closed In September
Portfolio Pulse from Benzinga Newsdesk
Upstart has secured a programmatic purchase commitment from Blue Owl Capital, which will buy up to $2 billion in consumer loans from Upstart's platform over 18 months. This includes an initial $290 million personal loan portfolio acquisition.
October 10, 2024 | 6:37 pm
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POSITIVE IMPACT
Blue Owl Capital has committed to purchasing up to $2 billion in consumer loans from Upstart's platform, marking a strategic move in its Alternative Credit strategy. The initial acquisition of a $290 million loan portfolio has already been completed.
This commitment aligns with Blue Owl's strategy to expand its Alternative Credit portfolio, potentially increasing its market presence and financial performance. The initial acquisition demonstrates Blue Owl's active engagement in this strategy.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Upstart has announced a significant partnership with Blue Owl Capital, which will purchase up to $2 billion in consumer loans from Upstart's platform over the next 18 months. This deal includes an initial acquisition of a $290 million personal loan portfolio.
The partnership with Blue Owl Capital is a significant boost for Upstart, as it secures a large-scale commitment to purchase loans, which can enhance Upstart's financial stability and growth prospects. The initial $290 million acquisition indicates immediate positive impact.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 90