Goldman Sachs to Sell GreenSky to a Consortium Led by Sixth Street Partners

Goldman Sachs has agreed to sell GreenSky, its home improvement lender, and associated loans to a consortium led by investment firm Sixth Street Partners, it said on Wednesday.

Goldman did not disclose the value of the deal, but said it will take a charge of 19 cents per share for the third quarter; Goldman will announce earnings on Tuesday. The transaction is expected to close in the first quarter, the bank said.

The Wall Street powerhouse bought GreenSky in a deal with a $1.7 billion valuation last year. The sale is Goldman’s latest step in scaling back its retail operations to refocus on its traditional mainstays, investment banking and trading.

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