Castlelake to Acquire Consumer Installment Loans Worth up to $1.2 Billion from Upstart’s Platform

Castlelake, L.P. Reaches Agreement to Purchase Consumer Installment Loans from Upstart

Castlelake, L.P., a global alternative investment manager, has made a significant agreement with Upstart, an AI lending marketplace, to purchase up to $1.2 billion of consumer installment loans. This deal follows a previous agreement in 2023 and showcases Castlelake’s commitment to supporting Upstart’s mission of providing affordable credit to consumers.

Upstart’s platform connects millions of consumers to banks and credit unions using AI to approve more borrowers at lower rates. Castlelake’s extensive experience in acquiring and financing consumer credit and small business loans informed their decision to invest in this asset class.

John Lundquist, Partner at Castlelake, expressed his satisfaction with the agreement, highlighting the increasing value of credit for consumers in the current economic climate. Sanjay Datta, CFO of Upstart, also emphasized the importance of the partnership in expanding access to affordable credit.

This transaction is just one example of Castlelake’s involvement in the consumer credit and specialty finance sector since 2015. The company has provided asset-based private credit to various originators and participated in other specialty finance transactions, demonstrating their expertise in the field.

Castlelake, founded in 2005, manages approximately $22 billion of assets and has a team of over 220 professionals across multiple offices worldwide. For more information, visit

For media inquiries, contact Prosek Partners for Castlelake at +1 212 279 3115 or email [email protected]. Castlelake Media Relations can be reached at [email protected].

This partnership between Castlelake and Upstart represents a significant development in the consumer credit industry, showcasing the importance of innovative solutions in providing access to affordable credit for consumers.

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