Peer-to-peer lenders originally sought to attract retail investors to its loan marketplace, but the lack of high-returning assets elsewhere in the market has made these platforms increasingly attractive to major asset managers and hedge funds.

Dan Loeb has become a billionaire searching out value in financial markets.

When SoFi launched in 2011, it focused squarely on the burgeoning student loan market - a market that, unlike housing, had no viable option to refinance both federal and private student loans from higher interest-rate eras.

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