Pagaya and Värde Continue Partnership to Provide Capital Support to Credit Unions
- Partnership provides over $100 million in capital to a credit union
- Pagaya's tech-enabled network offers scalable solution to banking ecosystem
- None.
Värde Partners and Pagaya Close
In the current macroenvironment, coupled with regulatory requirements and increasing liquidity pressures, there is growing demand from credit unions and banks for solutions to help optimize their balance sheets. This transaction builds on Pagaya’s proven track record of partnering with well-capitalized investors like Värde to solve these challenges. Following a similar deal in May, Pagaya and Värde are partnering to provide over
Pagaya’s unique tech-enabled two-sided network allows financial institutions to grow originations, while offering investors real-time access to diversified assets at scale. By enabling originations and stabilizing balance sheets, Pagaya delivers a scalable solution to the banking ecosystem and connects more people to financial opportunity.
“We’re pleased to provide asset lending solutions and bring dependable capital to an increasingly dislocated credit market. Leveraging Pagaya’s rich data network and ability to execute at speed, we are able to provide even greater liquidity and financing support to credit unions and other financial institutions,” said Aneek Mamik, Partner and Global Head of Financial Services & Diversified Private Credit at Värde.
“We continue to quickly leverage consumer data to facilitate capital investment for depository institutions in these volatile markets,” said Paul Limanni, Chief Capital Officer at Pagaya. “Together with our like-minded partners at Värde, we’re able to continue to expand reach and provide attractive capital solutions to platforms and investors.”
About Pagaya
Pagaya (NASDAQ: PGY) is a global technology company making life-changing financial products and services available to more people nationwide, as it reshapes the financial services ecosystem. By using machine learning, a vast data network and a sophisticated AI-driven approach, Pagaya provides comprehensive consumer credit and residential real estate solutions for its partners, their customers, and investors. Its proprietary API and capital solutions integrate into its network of partners to deliver seamless user experiences and greater access to the mainstream economy. Pagaya has offices in
About Värde Partners
Värde Partners is a leading global alternative investment firm specializing in credit and credit-related assets. Founded in 1993, the firm has invested through multiple credit cycles, building on its roots in special situations and distressed to invest more than
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Pagaya Contacts
Investors & Analysts
Jency John
Head of Investor Relations
IR@pagaya.com
Media & Press
Emily Passer
Head of PR & External Communications
press@pagaya.com
Värde Partners Contacts
Communications and Public Affairs
communications@varde.com
Source: Pagaya Technologies LTD.
