Israeli financial tech company Pagaya Technologies has announced the closing of a $400m (£298m) asset-backed security (ABS) transaction.
RPM 2025-5 is backed by auto loans originated through Pagaya’s network of national auto lenders, including Ally and Westlake, the company said.
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New York-based alternative investment manager One William Street Capital Management has purchased the residual certificates from RPM 2025-5 as a strategic funding partner to Pagaya.
“Our partnership with OWS, alongside strong execution, serves as strong indicators of both the durability and quality of our capital markets program,” said Sahil Chandiramani, Pagaya’s head of capital markets.
Evangelos Perros, chief financial officer of Pagaya, added that the agreement underscored the diversification of the company’s funding infrastructure and “bolsters our growth and capital efficiency”.
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In 2025, Pagaya’s cumulative auto ABS issuance reached a record $1.7bn (£1.3bn), surpassing the level of any prior full-year’s aggregate issuance in auto.
Since 2018, the company said it has raised over $32bn (£23.8bn) across 78 ABS transactions to fund loan originations across personal loans, auto, and point-of-sale.
