OneMain Holdings and TPG announced they have extended and expanded their forward flow agreement, under which TPG will continue purchasing consumer and auto loans originated by OneMain through June 30, 2028.
Under the updated arrangement, TPG, investing through its Asset Based Finance platform, committed to purchase approximately $2.4 billion of OneMain-originated loans over the term. The new commitment follows prior forward flow commitments totaling $1.3 billion, including a most recent agreement that expired Dec. 31, 2025.
The companies said the extension supports OneMain’s origination growth while further diversifying its funding sources, and it deepens TPG’s exposure to asset-backed consumer and auto credit. The announcement also underscores a relationship that the firms said spans more than a decade.
OneMain positions the partnership as part of a broader effort to balance growth with stable access to capital as it lends to nonprime consumers across 47 states through a network of approximately 1,300 locations and online channels. TPG said its asset-backed credit expertise enables it to structure and execute large-scale transactions in the category.
TPG, founded in 1992, reported $286 billion of assets under management and said it invests across strategies including private equity, impact, credit, real estate, and market solutions.
KEY QUOTES:
“Our long-term strategic partnership with TPG has been very beneficial in diversifying our funding options. We appreciate TPG’s through-the-cycle approach and agility as a true partner and look forward to finding ways to further develop our relationship.”
Jenny Osterhout, Chief Financial Officer, OneMain
“Our partnership with OneMain spans more than a decade and highlights the vital role private credit can play in supporting the U.S. Main Street economy. We are proud to be a partner to an industry leader like OneMain, whose business model is uniquely differentiated from that of typical consumer finance company.”
TJ Durkin, Managing Partner and Head of Asset Based Finance, TPG
“Our platform has been a significant liquidity provider and partner to financial lenders since its inception in 2008. Our deep expertise in asset-backed credit positions us to execute transactions of this scale and strategic value. We look forward to working closely with OneMain in the years ahead.”
Aaron Ong, Partner, Asset-Based Finance, TPG
