JHVEPhoto/iStock Editorial via Getty Images
Private equity firm Carlyle (CG) and KKR (KKR) won an auction for Discover Financial’s (NYSE: DFS) $10 Billion Student Loan Book.
The private equity firm’s joint bid beat out a competing bid from Sixth Street, BlackRock (BLK) and Canada. Pension Plan Investment Board, with the loan book selling above average, according to A Financial Times report late Wednesday, citing people familiar with the matter.
The auction also saw interest from Ares (ARES), Blackstone (BX), and Oaktree, according to the Financial Times.
Discover (DFS) said in late November that it was considering selling its student loan portfolio.
The potential sale of its student loan portfolio comes as Discover (DFS) agreed to sell itself to Capital One (COF) for more than $35 billion in February.