Goldman Sachs announces sale of GreenSky to Sixth Street-led consortium

Goldman Sachs Group announced that it has entered into an agreement to sell the GreenSky platform and associated loan assets to a consortium of institutional investors led by Sixth Street. The transaction is expected to close in the first quarter of 2024, subject to standard closing conditions. The transaction is expected to result in a (19c) earnings per share impact on Goldman Sachs’ third quarter 2023 results. Until closing, Goldman Sachs will continue to operate the platform and record ongoing business results, including the impact of an agreement for the consortium to purchase newly originated loans. “This transaction demonstrates our continued progress in narrowing the focus of our consumer business. While GreenSky is an attractive business, we are focused on advancing the strategy we laid out for our two core franchises. In Global Banking & Markets, we’ve improved our wallet share and are demonstrating strong growth in financing activities; and across our Asset & Wealth Management platform we are making very strong progress towards both our fundraising and management fee targets,” said David Solomon, Chairman and CEO of Goldman Sachs.