Prudential's asset management arm strikes deal for $3 billion of GreenSky loans

Thu, August 20, 2026 at 3:50 PM UTC

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Aug 20 (Reuters) - PGIM has struck an agreement to buy roughly $3 billion of loans from home improvement lender GreenSky, the asset management arm of Prudential Financial said on Thursday.

Here are some more details:

• The three-year agreement comes as PGIM focuses on scaling its asset-backed financing platform, a segment from where traditional banks have pulled back.

• PGIM, which manages $1.5 trillion in assets across public and private asset classes, will buy the loans through a so-called forward flow agreement with GreenSky, where investors agree to purchase the loans before they are originated.

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• "Home improvement lending continues to stand out as a compelling segment within consumer credit. Additionally, the aging housing stock is driving increased demand for critical home infrastructure and improvements," said Oliver Nisenson, head of private asset-based finance at PGIM.

• The transaction follow PGIM's commitment to provide $4 billion in funding for new land banking projects to Domain Real Estate Partners.

• Goldman Sachs had sold Atlanta, Georgia-based GreenSky and associated loans to a consortium led by investment firm Sixth Street Partners in 2024.

(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shilpi Majumdar)

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Source: “AOL Money”