Carlyle Buys $415 Million Private Student-Loan Pool in ABS Push

Carlyle Group Inc. acquired a $415 million private student loan portfolio from Truist Bank as it looks to expand in private asset-backed investing.

The deal by Carlyle’s credit strategic solutions group coincides with a minority investment in Monogram LLC,a student-loan provider with more than $7 billion in assets under management, according to a press release. Carlyle will provide financial backing to help Monogram further originate and acquire private student-loan assets.

The transaction comes at a time when more traditional lenders are looking to exit the student-loan business. Discover Financial Services is exploring the sale of its $10.2 billion student-loan ...