Simpson Thacher is representing a consortium of institutional investors led by Sixth Street in connection with its announced agreement to acquire the GreenSky lending and servicing platform and associated loan assets from Goldman Sachs. GreenSky, which was acquired by Goldman Sachs in 2022, is one of the largest fintech platforms for home improvement consumer loan originations. Financial terms of the transaction were not announced.
The consortium acquiring GreenSky is led by Sixth Street and also consists of funds and accounts managed by KKR, Bayview Asset Management, and CardWorks. The transaction includes significant support from PIMCO through an asset acquisition, as well as strategic financing from CPP Investments.
Sixth Street is a global investment firm with over $74 billion in assets under management and committed capital. The firm uses its long-term flexible capital, data-enabled capabilities, and One Team culture to develop themes and offer solutions to companies across all stages of growth. Founded in 2009, Sixth Street has more than 500 team members including over 200 investment professionals operating around the world.
The Simpson Thacher team includes Ravi Purushotham, Lee Meyerson, Andrew Norwich, Si Sun, Steven Jeffries and Minaal Wickremesinghe (M&A); Sophie Staples, Matthew Lester and Caroline Phillips (Tax); Tristan Brown, Harry Hudesman and Ryan Kenny (Executive Compensation and Employee Benefits); Lori Lesser, Marisa Geiger, Corina Holland and Mark Natividad (IP); Krista McManus and Dennis Loiacono (Real Estate); Steven DeLott (Insurance); and Peter Guryan, Richard Jamgochian and Kelly Karapetyan (Antitrust).