Goldman Sachs Group, Inc. GS has reportedly sold $1 billion of Marcus loans to investment firm Varde Partners as a part of its plan to exit the lending business.
Varde purchased the personal loans at a bargain to face value last month, Bloomberg reported, citing people with knowledge of the transaction.
The deal depicts the most recent tranche of Marcus borrowings that Goldman has been offloading since earlier this year.
Also Read: Goldman Sachs Plans To Lay Off 125 Managing Directors Worldwide: Report
In June, Goldman Sachs forecasted a mini stagflation scenario ahead, ailed by sluggish growth and higher inflation.
The banking behemoth predicted a stricter environment for capital markets and financing as the risk appetite for its clients is lower.
Price Action: GS shares are trading higher by 0.53% to $328.13 on the last check Thursday.
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