UPST - Castlelake Agrees to Purchase up to $1.2 Billion of Consumer Installment Loans Originated on Upstart's Platform | Benzinga
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.