LendingClub has renewed its forward flow agreement with Blue Owl Capital managed funds for up to £3.4bn (£2.5bn) in structured loan certificate (SLCLC) transactions over two years.
The initial phase includes transactions worth up to $600m in the first three months, followed by quarterly purchases.
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The renewal builds upon the firms’ existing partnership, which has already executed $2.4bn worth of transactions through the SLCLC programme, and provides provides LendingClub with predictable funding capacity to maintain loan origination volume.
The SLCLC programme, launched in April 2023, has facilitated nearly $6bn in loan sales and aims to provide a streamlined investment process without requiring external financing for loan buyers.
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“Blue Owl Alternative Credit is excited to grow our investment with LendingClub, a best-in-class originator in the personal loan asset class that continues to deliver stable, attractive returns,” said Ivan Zinn, head of alternative credit at Blue Owl.
“This marks our funds’ third investment with LendingClub since 2023, and we look forward to growing our relationship further.”
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