** Shares of financial technology firm Pagaya Technologies PGY.O jump as much as 12.5% in early trading; last up 6.7% at $11.15
** Funds managed by alternative asset manager Blue Owl Capital OWL.N have agreed to purchase as much as $2.4 bln of consumer loans through the PGY network over a 24-month period, PGY says
** Deal is in the form of a so-called forward flow agreement, wherein the buyer agrees to buy loans before they have originated
** Transaction demonstrates the role private credit can play to support the U.S. consumer lending industry, Ivan Zinn, head of alternative credit at Blue Owl says
** Brokerage Benchmark says PGY is now well-positioned to fund loan organizations with minimal use of its own capital
** PGY stock slumped 43.9% in 2024
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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