Pagaya Closes $450M Auto Resecuritization Deal, Expanding ABS Platform

Event summary

  • Pagaya closed its first auto resecuritization transaction, RPM-2026-R1, at ~$450M.
  • The deal launches the RPM-R shelf, offering seasoned auto collateral with 24 months of performance history.
  • 17 unique investors participated, diversifying Pagaya’s investor base.
  • This follows Pagaya’s record-breaking 2025, where it raised over $8.5B across ABS platforms.

The big picture

Pagaya’s $450M auto resecuritization deal marks a strategic pivot into diversified asset structures, leveraging its AI-driven approach to appeal to a broader range of credit appetites. This move follows a record-breaking year in ABS fundraising, signaling Pagaya’s growing influence in the financial technology sector. The transaction underscores the company’s ability to package seasoned auto assets into attractive investment vehicles, potentially setting a new standard for resecuritization in the auto finance market.

What we're watching

Investor Demand
Whether the robust appetite for this inaugural auto resecuritization will sustain future transactions.
Risk Management
How the use of seasoned collateral will impact the perceived risk and attractiveness of Pagaya’s auto loan ecosystem.
Market Expansion
The pace at which Pagaya can expand its ABS platform offerings to attract new investor segments.