CPP Investments expands partnership with buy-now-pay-later lender Affirm

▤ Summary

CPP Investments renewed and expanded its partnership with Affirm in a two-year agreement. The fund will commit US$1.7 billion to buy Affirm instalment loans, with the option to raise that commitment to US$2.2 billion. CPP Investments has already bought nearly US$14 billion in Affirm assets since 2019 through earlier structured financing arrangements. The deal reinforces Affirm’s access to capital and gives CPP Investments another long-term credit investment channel.

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