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Arlington, Va.-based hedge fund manager EJF Capital LLC bet roughly $74.8 million on U.S.-Israeli financial technology firm Pagaya Technologies Ltd. in the second quarter, which accounted for the bulk of its new investments during the period.
Pagaya, which operates an AI-powered network that helps lenders quickly evaluate applicants, debuted on the Nasdaq on June 23, after buying blank-check company EJF Acquisition Corp. from EJF Capital and other investors.
Pagaya booked an 83.2% year-over-year rise in total revenue and other income to $181.5 million in the second quarter and expects its network volume to grow to between $7.2 billion and $7.8...