Loans originated by fintech lenders including Affirm Holdings (AFRM) and Upstart Holdings (UPST) are among the assets held by a private-credit fund that has restricted investor withdrawals, The Wall Street Journal reported Wednesday, citing a Stone Ridge Asset Management investor update.
Stone Ridge said it would meet only 11% of redemption demands in its Alternative Lending Risk Premium Fund, known as LENDX, the report said.
The fund invests in consumer and small-business loans from fintech lenders including Affirm, Block (XYZ) and Upstart, as well as LendingClub (LC), the report said.
Stone Ridge, Affirm, Block, Upstart, and LendingClub didn't immediately respond to requests for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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