GE agreed to sell a portfolio of first lien mortgage loans from its UK Home Lending business valued at $5.8 billion to Blackstone, TPG Special Situation Partners and CarVal Investors.

The loans have a face value, or customer servicing balance of $5.9 billion. The transaction is expected to close in December. Terms were not disclosed.

“This transaction represents the sale of almost all our remaining UK mortgage business, which successfully provided financing for UK home owners,” said Keith Sherin, GE Capital chairman and CEO. “We began this year with around $13 billion of ENI and when this transaction closes, we will have approximately US$0.4 billion of ENI remaining in our UK mortgage business. This is an important step as we continue to execute on our plan to sell most of the assets of GE Capital.”

As previously announced, GE is embarking on a strategy to focus on its high-value industrial businesses and is selling most GE Capital assets.

In total, the combined sales of the UK Home Lending portfolios, including this transaction, will contribute nearly $1 billion of capital to the target. With the transaction, the total ENI for 2015 announced sales is about $136 billion.

“We are pleased with the progress we are making to reach and close agreements for our businesses and assets. The speed and value we have achieved is a testament to the hard work of our GE Capital teams around the world,” said Sherin.