One William Street Capital Management, L.P. and its affiliates (“OWS”) today announced that it has expanded its long-term capital partnership with Affirm. OWS closed a dedicated fund to purchase approximately $1.5 billion of loans from Affirm through 2027. This is in addition to extending an existing facility to purchase an additional ~$500 million per year in loans through 2027.
This builds upon the investment relationship that began in 2021 and has since grown across multiple funding channels, including Affirm’s forward flow program and active participation in its asset-backed securitization platform. The latest expansion would result in OWS purchasing a cumulative total of approximately $4 billion in Affirm originated assets since the inception of the partnership.
“Our expanded relationship with Affirm demonstrates our team’s ability to provide creative solutions to asset owners and originators, and to cultivate win-win partnerships that scale over time,” said Frank Prezioso, Deputy CIO at OWS. “By leveraging our deep expertise across the public and private asset-based and structured credit landscape, we identified Affirm’s approach to managing credit as a key competitive differentiator given their best-in-class underwriting and technology advantages. We’ve invested in assets originated by Affirm over a number of years, and we are proud to build upon our partnership by structuring scalable, bespoke programs.”
“OWS has been a great partner to Affirm, bringing deep expertise in credit and asset-based finance, and a collaborative approach to structuring innovative programs,” said Monica Mehra, Senior Director of Capital Markets at Affirm. “We greatly appreciate their support as we continue to build long-term relationships with our capital partners and deliver positive credit outcomes through our superior underwriting technology.”
About One William Street Capital Management
One William Street Capital Management (“OWS”) is a premier alternative investment manager offering clients investment solutions across public and private asset-based, structured, and opportunistic credit. Founded in 2008, OWS and its affiliates manage in excess of $8.0 billion in assets. OWS’ Private Asset-Based Finance strategy provides capital and risk solutions to specialty finance companies, fintechs and other asset owners and originators via unitranche and mezzanine facilities, forward flow agreements, portfolio acquisitions, and other bespoke asset acquisition and financing structures. On behalf of its investors, the firm invests in both public and private format across a range of asset classes and geographies, with a focus on North America and Europe. For more information, please visit https://onewilliamstreet.com/.
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