AI TRENDS | Figure and Sixth Street Form Joint Venture to Acquire Kiavi for $717 Million

Figure and Sixth Street have formed a joint venture to acquire AI-driven real estate investment loan platform Kiavi for a total price of $717 million. According to Foresight News, under the agreement, Figure will acquire Kiavi’s technology and operating platform, while the joint venture will purchase the loan assets held on Kiavi’s balance sheet. After the transaction closes, Kiavi CEO Arvind Mohan is expected to join Figure as chief business officer. Kiavi’s assets will also serve as the first application scenario for Figure’s new AI product, Adaptor. Figure said Adaptor supports agent-to-agent automated integration and is intended to reduce the time and cost required for different asset originators to onboard.