SoFi Technologies, Inc. has announced a partnership with BlackRock to place a $375 million personal loan securitization. The transaction involves funds and accounts managed by BlackRock investment advisors.

Anthony Noto, CEO of SoFi, emphasized the importance of accessing various capital sources for expanding lending capabilities. "BlackRock’s great collaboration, seamless execution, and ability to invest across the entire capital structure made them an exceptional partner," he stated.

SoFi has previously sold over $14.5 billion and securitized more than $13.7 billion in personal loan collateral. The current transaction will be issued by SoFi Personal Loan Trust 2023-1 and is expected to settle by mid-November.

Gary Shedlin, Vice Chairman of BlackRock, expressed enthusiasm about the partnership. "We are excited to help them grow their lending business while at the same time accessing differentiated investment opportunities," he said.

Citi is acting as Advisor and Initial Purchaser for this transaction.