Carlyle (CG) and KKR (KKR) have emerged among the final bidders for a $10B U.S. student loan portfolio from Discover Financial (DFS), The Financial Times’ Eric Platt, Maria Heeter, and Antoine Gara report, citing people familiar with the matter. Discover is in the process of selling itself to Capital One (COF) for $35.5B, and has launched a disposal process for the student loan portfolio as part of the deal. One person briefed on the matter says the auction was likely to conclude later this month or in early July.
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