executives will pitch Prosper Capital Consumer Credit Fund to prospectiveinvestors in the week of July 25, Bloomberg News reported, citing a"person familiar with the matter."
The companyis aiming for returns of 6% to 8% for the private fund, which will buy consumerloans arranged via Prosper Marketplace's online platform, according to thereport. The source also told the news outlet that the fund intends to purchaseloans as soon as September and could manage up to $1 billion, with a minimuminvestment of $250,000.
Reutersreported in May that the company engaged investment banks to consider strategicalternatives. Bloomberg also previously reported that Prosper Marketplace wasseeking capitalinjections from investors.