Castlelake LP has agreed to purchase up to $1 billion in consumer loans that were initially created by Pagaya Technologies LTD, the latest move by private credit lenders seeking to grow their footprint in consumer debt.

The arrangement, which is set up as a forward flow deal, will allow Castlelake to buy Pagaya-originated loans for a period spanning one year, with an option to extend the agreement further, according to a press statement from the companies seen by Bloomberg News.