Upstart Holdings Inc. (NASDAQ: UPST) announced that Centerbridge Partners L.P. has committed to purchase up to $1.2 billion of consumer loans originated through Upstart's platform under a 24-month forward-flow arrangement.

The agreement represents an expansion of the partnership between the AI lending marketplace and the alternative investment manager, following an initial transaction between the companies in 2024.

Under the forward-flow commitment, Centerbridge will purchase consumer loans originated by Upstart over the 24-month period. Centerbridge manages approximately $46 billion in assets under management as of December 31, 2025, with investment strategies across private equity, private credit and real estate.

"This partnership demonstrates our shared ability to deliver innovative solutions and provides a scalable channel for capital deployment and consistent access to high-quality consumer credit assets," said Aaron Fink, Senior Managing Director and Head of Asset-Based Finance at Centerbridge.

Sanjay Datta, President of Capital & Enterprise at Upstart, said the agreement "broadens our funding capabilities and enables Upstart to sustainably and resiliently deliver smarter, faster credit solutions across the lending ecosystem."

Upstart operates an AI-powered lending marketplace connecting consumers to more than 100 banks and credit unions. The company states that more than 90% of loans processed through its platform are fully automated. The San Mateo, California-based company offers personal loans, automotive loans, home equity lines of credit and revolving credit products.

The information is based on a company press release statement.