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                                            Yagmur GULEC

Is there a param in the 'SoftImpute' function similar to 'lambda' in 'softImpute' in r?

I think it should shrinkage_value. You should initiate SoftImpute(shrinkage_value=0.1). I also implemented SoftImpute based on Julia implementation https://github.com/YagmurGULEC/py-soft-impute/blob/master/soft_impute.py.