All Access

Fintech Deals

Standard

Fintech Deals Alerts

Alert

Fintech Deals Thought Bubble

Thought Bubble

mustard

BFD Expert Voices - Private Credit

BFD Expert Voices

A consortium led by Sixth Street Partners has entered exclusive talks to acquire installment lending platform GreenSky from Goldman Sachs, according to multiple reports.

Why it matters: The sale signals a further retreat from mass-market and consumer businesses by Goldman.

Details: Reports say the deal could fetch up to $500 million — less than a third of what Goldman paid for GreenSky less than two years ago.

The Sixth Street consortium, which includes Pimco and KKR, prevailed over a rival bid led by Apollo Global Management.

The big picture: As profits have sunk in recent quarters, Goldman CEO David Solomon has been pressured to exit some non-core businesses.

Earlier this year, Goldman disclosed that its consumer-lending business had lost about $3 billion since 2020 on a pretax basis, which grew to about $4 billion by the end of the second quarter of 2023.

In July, the firm wrote down $504 million related to the $1.7 billion GreenSky acquisition as a result.

Of note: Last month, Goldman also exited the financial advisory business by selling its Personal Financial Management (PFM) unit.

That deal unwound its $750 million acquisition of United Capital Financial Partners in 2019.

Sixth Street consortium in talks to acquire Greensky from Goldman

Goldman Sachs retreats further from mass-market businesses

Illustration of two hands: one holding a hundred dollar bill, the other empty. 

Fintech

A consortium led by Sixth Street Partners has entered exclusive talks to acquire installment lending platform GreenSky from Goldman Sachs, according to <a class="gtmContentClick" data-vars-link-text="multiple" data-vars-click-url="https://link.axios.com/click/32774361.13/aHR0cHM6Ly93d3cud3NqLmNvbS9maW5hbmNlL2JhbmtpbmcvZ29sZG1hbi1zYWNocy1pbi1hZHZhbmNlZC10YWxrcy10by1zZWxsLWdyZWVuc2t5LWluLWJpZy1zdGVwLWluLWNvbnN1bWVyLXJldHJlYXQtYzAyMjFmNjc_bW9kPXJzc19tYXJrZXRzX21haW4mdXRtX3NvdXJjZT1uZXdzbGV0dGVyJnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPXNlbmR0b19wcm9uZXdzbGV0dGVydGVzdCZzdHJlYW09dG9w/61b8a591584bc520355bcf4eBef1d3239" data-vars-content-id="81c88f34-eddd-494d-8065-c0bffdbf5320" data-vars-headline="Sixth Street consortium in talks to acquire Greensky from Goldman" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://link.axios.com/click/32774361.13/aHR0cHM6Ly93d3cud3NqLmNvbS9maW5hbmNlL2JhbmtpbmcvZ29sZG1hbi1zYWNocy1pbi1hZHZhbmNlZC10YWxrcy10by1zZWxsLWdyZWVuc2t5LWluLWJpZy1zdGVwLWluLWNvbnN1bWVyLXJldHJlYXQtYzAyMjFmNjc_bW9kPXJzc19tYXJrZXRzX21haW4mdXRtX3NvdXJjZT1uZXdzbGV0dGVyJnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPXNlbmR0b19wcm9uZXdzbGV0dGVydGVzdCZzdHJlYW09dG9w/61b8a591584bc520355bcf4eBef1d3239" target="_self">multiple</a> <a class="gtmContentClick" data-vars-link-text="reports" data-vars-click-url="https://link.axios.com/click/32774361.13/aHR0cHM6Ly93d3cucmV1dGVycy5jb20vbWFya2V0cy9kZWFscy9zaXh0aC1zdHJlZXQtbGVkLWNvbnNvcnRpdW0tZXhjbHVzaXZlLXRhbGtzLWJ1eS1nb2xkbWFucy1ncmVlbnNreS1zb3VyY2UtMjAyMy0wOS0yMC8_dXRtX3NvdXJjZT1uZXdzbGV0dGVyJnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPXNlbmR0b19wcm9uZXdzbGV0dGVydGVzdCZzdHJlYW09dG9w/61b8a591584bc520355bcf4eBf345d2df" data-vars-content-id="81c88f34-eddd-494d-8065-c0bffdbf5320" data-vars-headline="Sixth Street consortium in talks to acquire Greensky from Goldman" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://link.axios.com/click/32774361.13/aHR0cHM6Ly93d3cucmV1dGVycy5jb20vbWFya2V0cy9kZWFscy9zaXh0aC1zdHJlZXQtbGVkLWNvbnNvcnRpdW0tZXhjbHVzaXZlLXRhbGtzLWJ1eS1nb2xkbWFucy1ncmVlbnNreS1zb3VyY2UtMjAyMy0wOS0yMC8_dXRtX3NvdXJjZT1uZXdzbGV0dGVyJnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPXNlbmR0b19wcm9uZXdzbGV0dGVydGVzdCZzdHJlYW09dG9w/61b8a591584bc520355bcf4eBf345d2df" target="_self">reports</a>.Why it matters: The sale signals a further retreat from mass-market and consumer businesses by Goldman.

topics

politics-policy

epstein-files

donald-trump

2026-midterm-elections

immigration

behind-the-curtain

race-and-equity

technology

privacy-tech-regulation

automation-and-ai

tiktok-news

big-tech

social-media

cybersecurity

economy

social-security

inflation

tariffs

federal-reserve

jobs

transportation

business

stock-market-news

retail-news

crypto

media

elon-musk

dealmaking

health

rfk-jr

drug-prices

axios-explains-abortion

public-health

world

israel

axios-explains-ukraine

iran

russia

china

energy-climate

nuclear-energy

climate-energy-policy

climate-change

extreme-weather

alternative-energy

electric-vehicles

science

emerging-tech

biomedicine

newsletters

charlotte

boulder

detroit

kansas-city

columbus

austin

dallas

atlanta

washington-dc

nw-arkansas

chicago

indianapolis

nashville

richmond

colorado-springs

houston

san-francisco

seattle

boston

des-moines

salt-lake-city

philadelphia

denver

phoenix

new-orleans

miami

twin-cities

raleigh

san-antonio

portland

san-diego

tampa-bay

cleveland

huntsville

pittsburgh

axios-local

axios-pro

axios-live

the-axios-show

Sixth Street consortium in talks to acquire Greensky from Goldman

What to read next