Skadden, Arps, Slate, Meagher & Flom is advising Discover Financial Services in its sale of a $10.1 billion private student loan portfolio to one or more strategic partnerships managed by Carlyle and KKR.
The credit card giant and payment service announced Wednesday that its loans will be acquired at a premium for up to $10.8 billion by the end of 2024. Firstmark Services, a division of Nelnet, will be responsible for servicing the loan portfolio upon its sale.
The Skadden team is led by New York M&A partners Jeffrey Brill and June Dipchand, who is also based in Toronto, according ...
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