Truist Sells $7.7B LightStream Loan Portfolio to Carlyle

US lender Truist Financial agreed to sell its LightStream assets to The Carlyle Group for $7.7 billion, while reporting a Q3 earnings miss.

Truist Financial has agreed to sell a personal loan portfolio valued at approximately $7.7 billion to The Carlyle Group, outlets TradingView, StreetInsider, and MarketScreener reported. The portfolio encompasses all assets of the LightStream consumer lending platform.

Concurrently, the American bank announced that it missed earnings estimates for the third quarter. According to TradingView, the quarterly results were weighed down by the loan sale transaction. Further financial details regarding the terms of the agreement and its completion timeline have not yet been released.