Partnership advances Edge Focus’s growth in consumer auto assets
Edge Focus, a technology-enabled private credit firm focused on consumer assets, announced a loan partnership with a large private credit manager to expand its auto program through the purchase of consumer auto receivables. The partnership marks a major milestone for Edge Focus, building on nearly 10 years of history in consumer lending assets and accelerating the firm’s expansion in the auto lending space.
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As part of the partnership, the private credit fund partner is committing up to $500 million in funding to purchase consumer auto receivables procured through the joint venture with Edge Focus. The receivables will be underwritten with Edge Focus’s proprietary Origin platform. Following each purchase, loan performance will be regularly evaluated using Edge Focus’s proprietary Lens portfolio analytics and performance monitoring platform.
“Our auto program has been an increasingly important part of the Edge Focus platform as we have continued to refine our underwriting and portfolio monitoring technology,” said Sean Mills, Chief Technology Officer at Edge Focus. “This partnership is an important step to solidifying our role in the auto landscape and setting us up for sustainable growth.”
Over the past year, Edge Focus has expanded its team and capabilities to support the growth of its consumer auto business, including the addition of an auto-focused team led by Mills and Senior Researcher Michael Andrews. To support this program, Edge Focus is actively increasing its access to auto originators and anticipates evaluating over $10bn of auto loan opportunities in the next year.
As part of the joint venture, Edge Focus will also commit capital toward the purchase of consumer auto receivables. To date, Edge Focus has supported the origination of over $3 billion in consumer loans.
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