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ACE and SoFi enter into Key Strategic Relationship to Grow SoFi's Student Loan Platform
May 21, 2013 (05:05 PM EDT)
NEW YORK, May 21, 2013 /PRNewswire-iReach/ -- ACE Group, Inc. (www.ACEportal.com) announced today that it has entered into a key strategic relationship with Social Finance, Inc. (http://www.SoFi.com), the private student lender, to make all 27 of SoFi's currently active school-specific student loan funds (representing $1.4 billion) accessible to pre-approved, qualified investors through the ACE Portal. The ACE platform enables qualified investors to conveniently seek out and evaluate SoFi's specific fund opportunities in a secure and compliant setting.
"We are excited to partner with ACE to enhance our marketing technology and stimulate incremental demand for our student loan funds from ACE's growing member base," said SoFi's Chief Executive Officer, Mike Cagney. "SoFi borrowers will be pleased to know that we are working with ACE to aid us in filling our current demand and backlog of students and graduates seeking loans. ACE provides a secure, user-friendly interface to more effectively market our funds by enabling us to communicate with qualified investors in a more efficient manner."
When asked about ACE Group's role in hosting SoFi's school-specific funds on its platform, ACE's President and CEO, Peter Williams, said: "We are very proud to be associated with an innovator like SoFi. We built the ACE Portal to provide an online platform that enables investment banks and placement agents to more efficiently communicate with a broad investor base, including institutions, family offices and accredited investors, with the ultimate goal of bringing efficiency to a market that has historically been opaque."
About ACE Group, Inc.
ACE Group, Inc. provides an online platform for issuers of private securities and their placement agents. Through its secure portal, the Company enables qualified investors to connect with investment opportunities marketed by investment banks and other placement agents. ACE provides an unparalleled level of transparency and market efficiency to the private placement process. The Company was founded in 2010 and is led by an experienced team of former investment banking professionals who collectively, while with ACE and prior firms, have been involved in transactions that have raised in excess of $85 billion in capital for a wide array of issuers. For more information about ACE, visit www.ACEportal.com.
SoFi is transforming the $1 trillion student loan market. By connecting accredited alumni investors with students and recent graduates through school-specific loan funds, investors can earn a compelling risk-adjusted return while helping borrowers reduce the cost of their loans. In contrast to the government's "one-size-fits-all" approach to student lending, SoFi specializes in originating school-specific loan funds by connecting students with alumni through a dedicated lending pool, and social community approach. Founded in 2011 by a team of Stanford Graduate School of Business alumni, SoFi has funded over $100 million in new and refinanced student loans to students and alumni of 78 schools. To learn more about SoFi, visit http://www.SoFi.com.
The information contained in this press release does not constitute an offer to sell securities or a solicitation of an offer to buy securities. Buying or selling interests in the SoFi Private Investment Funds (the "Funds") can only be made by private placement memoranda and related subscription documents, which may be provided to accredited investors on a confidential basis at their request for their consideration in connection with such offering. Investment in the Funds will involve significant risks, including, without limitation, loss of principal. Additionally, the Funds will have limited liquidity options, as there is a limited secondary market for the Funds. None of the information contained in this release is a recommendation for investment in any securities. SoFi is not affiliated with or officially endorsed by listed universities. ACE is not a broker-dealer and does not engage in the execution of securities transactions through its Portal or elsewhere.
Media Contact: Peter Williams ACE Group, Inc., (212) 284-7676, email@example.com
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SOURCE ACE Group, Inc.