Goldman Sachs Group Inc. is in advanced talks to sell its specialty lender GreenSky, the Wall Street Journal reported Tuesday night.
According to the Journal, Goldman GS, -0.42% is negotiating a roughly $500 million deal with a group of investment firms, which includes KKR KKR, -1.60%, Sixth Street and Pacific Investment Management.
That would be a significant loss for Goldman, which bought GreenSky for $1.7 billion in 2021. GreenSky specializes in consumer loans for home renovations. Goldman announced its intent to sell GreenSky in April, with the investment bank saying in June it would likely book a sizeable write-down on the sale.
Last week, Goldman Chief Executive David Solomon said the company is focused on restructuring its consumer business, including selling GreenSky. Goldman shares have lost less than 1% year to date, compared to the S&P 500’s SPX 16% gain this year.
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