In recent weeks, Elliott, Carlyle, Fortress and Blue Owl have collectively agreed to purchase tens of billions of dollars' worth of loans, for consumers, automobiles and home equity.
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Fintech companies are literally passing the buck to private credit
Upstart shares jumped nearly a fifth, adding $700mn of equity value. Shares of SoFi rose a tenth when it recently announced its own $2bn loan sale agreement with Fortress Investment Group.
