Goldman Divests $1B Of Marcus Loans To Varde Partners: Report
Portfolio Pulse from Nabaparna Bhattacharya
Goldman Sachs Group, Inc. (GS) has sold $1 billion of Marcus loans to investment firm Varde Partners as part of its plan to exit the lending business. The personal loans were purchased at a bargain to face value last month. This is the latest tranche of Marcus borrowings that Goldman has been offloading since earlier this year. GS shares are trading higher by 0.53% to $328.13.
July 13, 2023 | 3:37 pm
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Goldman Sachs has sold $1 billion of Marcus loans to Varde Partners, continuing its plan to exit the lending business. The company's shares are trading higher.
The sale of Marcus loans is part of Goldman Sachs' strategy to exit the lending business. This move could be seen as a positive step towards focusing on more profitable ventures, which may have contributed to the slight increase in the company's stock price.
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