Pagaya Secures First Variable Funding Note Facility with ATLAS SP Partners, Advancing Long-Term Committed Capital Strategy
Pagaya closed its first Variable Funding Note facility with ATLAS SP Partners, establishing nearly $700 million in committed revolving funding capacity for its personal loan platform. Unlike one-off ABS issuances, the VFN is a revolving warehouse line that lets Pagaya draw, repay and redeploy liquidity, seasoning new loans before securitization through its AAA-rated PAID ABS platform.
Key figures
- Asset class
- personal loans
- Facility type
- Variable Funding Note (VFN) revolving warehouse facility
- Funding capacity
- nearly $700 million
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