The Wall Street Journal reported, citing a source familiar with the matter, that General Electric is nearing an agreement to sell its private equity lending unit to the Canada Pension Plan Investment Board, Canada’s biggest pension fund.
According to the Journal, terms are still being negotiated for a takeover that would include more than $10 billion of assets, but less than the unit’s full book of $16 billion.
The Journal noted the equity lending unit includes GE Antares Capital and The Senior Secured Loan Program (SSLP), a lending platform jointly managed by GE Capital and Ares Capital.
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Terry Mulreany
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