Castlelake Agrees to Purchase Up to $1.2 Billion of Consumer Installment Loans Originated on Upstart’s Platform
Castlelake, L.P., a global alternative investment manager, has recently agreed to purchase up to $1.2 billion of consumer installment loans from Upstart, an AI lending marketplace. This agreement follows a previous deal in 2023 and solidifies the partnership between the two companies.
Upstart’s platform connects millions of consumers to over 100 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 Upstart’s loans.
John Lundquist, Partner at Castlelake, expressed his satisfaction with the agreement, stating that credit is becoming increasingly valuable 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. The company has provided financing solutions for various originators and continues to seek attractive investment opportunities in the market.
Castlelake, founded in 2005, manages approximately $22 billion of assets and has a global team of experienced professionals. For more information about Castlelake, visit www.castlelake.com.
For media inquiries, contact Prosek Partners for Castlelake at +1 212 279 3115 or email jclarkson@prosek.com / rmarin@prosek.com. You can also reach Castlelake’s media relations team at media.relations@castlelake.com.
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