Today, Pagaya announced that it is once again providing capital solutions for a credit union, partnering with Värde to alleviate liquidity pressures and help optimize their balance sheet.

Bloomberg’s Max Reyes wrote: “The deal echoes one from May involving both firms and a different credit union. Since then, a number of regional banks have unveiled asset sales meant to free up cash or overhaul their balance sheets. Many of those firms are feeling the squeeze of the Federal Reserve’s rate hikes, which have driven down the value of older, longterm loans and securities, while pushing up the cost of gathering deposits and other funding.” 

“We are seeing several opportunities of similar size,” said Pagaya’s Chief Capital Officer, Paul Limanni. The Tel Aviv-based financial technology firm has been approached about conducting similar transactions with other financial institutions, he said.

Read the full story here or read the press release.