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Pagaya Announces Expansion of PAID Shelf With $900 Million Pre-Funded Consumer Credit Deal
Pagaya, an artificial intelligence (AI) powered investment manager, announced on Tuesday the expansion of the Pagaya AI Debt Selection Trust (PAID) shelf with $900 million committed. According to Pagaya, the demand for this PAID issuance was evidence of investors deeply trusting the platform as the deal was multiple times oversubscribed. While sharing details about the deal, Gal Krubiner, Pagaya’s CEO and Co-Founder, stated: “This has been a year of hyper-growth at Pagaya, and we’re continuing on that trajectory. The pace is staggering. It’s an honor to work with forward-thinking partners who have put their faith in Pagaya’s technology. Together, we’ve fundamentally changed this landscape.” ....