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Pagaya investor seeks refund, claiming AI real estate fund wiped 80% of capital

An investor in Pagaya's real estate fund demands a refund, alleging the AI-powered fund lost 80% of capital. The fund was marketed as conservative but suffered heavy losses due to undisclosed leverage. Pagaya denies the claims.

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Pagaya investor seeks refund, claiming AI real estate fund wiped 80% of capital
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Key points

  • Investor Zwi Williger demands $1.8 million refund from Pagaya, claiming 80% loss.
  • The fund uses AI to identify undervalued U.S. homes, but performance diverged from promises.
  • Williger alleges undisclosed leverage and risks; Pagaya rejects allegations.
  • Pagaya says fund is managed transparently and according to institutional standards.

Highlights and analysis are generated automatically and may contain errors. Check the original source.