Main Street will directly invest in private LGI-managed investment vehicles.
Looking Glass President and COO Matthew O’Malley said Main Street’s contribution will be devoted to underwriting enhancement, data management, and research.
Main Street President and COO Dwayne Hyzak explained their reasons for partnering.
“Looking Glass has built superior predictive analytics models supported by efficient technology. As this asset class continues its explosive growth we believe LGI will emerge as the premiere manager in this space.”
Domestic marketplace loan origination has doubled for each of the last five years and its average quarterly growth rate is 84 percent. The annual total is expected to reach $122 billion by 2020.
Looking Glass Investments was founded in 2006 as a marketplace lending research company. It has been investing in the sector since 2012.
Like this article? Take a second to support us on Patreon!