LendingClub (LC) said Thursday that Blue Owl Capital (OWL) would buy equity certificates and subordinated notes in LendingClub Structured Loan Certificate transactions worth up to $3.4 billion over two years.

In the three months preceding the renewed agreement, Blue Owl's managed funds are expected to close on transactions worth up to $600 million, with more purchases expected quarterly, said LendingClub.

The two companies have previously executed transactions valued at up to $2.4 billion under the LendingClub Structured Loan Certificate program, LendingClub added.