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Private equity firm Carlyle (CG) and KKR (KKR) won the Discover Financial auction (NYSE:DFS) $10 Billion Student Loan Book.
The PE firms’ joint bid beat out competing offers from Sixth Street, BlackRock (BLK) and Canadian A Retirement Plan Investment Board whose loan portfolio sells above par value pursuant to s Financial Times Report tardy Wednesday, citing people familiar with the matter.
According to FT, Ares (ARES), Blackstone (BX) and Oaktree were also interested in the auction.
Discover (DFS) in tardy November said it was considering selling its student loan portfolio.
The potential sale of the student loan portfolio comes after Discover (DFS) agreed to sell to Capital One (COF) for more than $35 billion in February.
