10:18 AM EDT, 10/10/2024 (MT Newswires) -- Blue Owl Capital (OWL) has agreed to purchase up to $2 billion in consumer installment loans from Upstart Holdings ( UPST ) over the next 18 months, Bloomberg reported Thursday, citing a company statement.

The personal loan provider will acquire the debt through a forward-flow agreement, where a purchaser commits to buying loans before they are originated. The agreement also encompasses $290 million in personal loans that have been distributed, the report said.

Apollo Global Management's Atlas SP Partners will provide debt financing for the purchases, according to Bloomberg.

Blue Owl and Upstart did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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