San Francisco private equity firm buys Open Lending, Inc. San Francisco private equity firm buys Open Lending, Inc. (Source: Shutterstock)

A San Francisco investment group plans to invest $520 million in Open Lending Inc. this year, and take public the Austin, Texas company launched 20 years ago to help credit unions make safe and affordable auto loans to near-prime borrowers.

A company formed by True Wind Capital Partners, a San Francisco private equity firm, will acquire Open Lending in the deal valued at about $1.3 billion. The True Wind investors will acquire about 35% to 40% of the new company, with current owners retaining the majority stake.

Jim DuPlessis

A journalist for decades.

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