Carlyle has entered into a definitive agreement to acquire an approximately $7.7 billion portfolio of unsecured personal loans from Truist, expanding the investment firm’s asset-backed finance activity and its role as a capital partner to banks managing their balance sheets.
The portfolio consists primarily of fixed-rate, fully amortizing personal loans made to super-prime and prime borrowers. Carlyle described the assets as a seasoned pool of consumer loans and said the transaction reflects growing demand from banks for private capital solutions that can help optimize balance sheets and manage portfolios more efficiently.
The acquisition is being led by Carlyle’s Asset-Backed Finance team within its Global Credit platform. The team invests across private fixed income and asset-backed assets, providing financing and acquiring portfolios from banks, specialty finance companies, asset owners, and other businesses.
Carlyle said the transaction demonstrates its ability to deploy capital at scale while underwriting large pools of consumer credit. The firm also views high-quality consumer lending as an important component of the broader asset-backed finance opportunity.
The deal builds on Carlyle’s experience working with banks on large and complex portfolio transactions and further expands its existing relationship with Truist.
Carlyle’s Global Credit platform managed approximately $211 billion in assets as of June 30, 2026. Across the broader firm, Carlyle had approximately $485 billion in assets under management at the same date, spanning Global Private Equity, Global Credit, and Carlyle AlpInvest.
The transaction also highlights the continued growth of private credit and asset-backed finance as banks look for alternative sources of capital and more flexible ways to manage loan portfolios. By acquiring seasoned assets directly from financial institutions, private investment firms can provide liquidity while gaining exposure to established pools of consumer credit.
Sidley Austin served as legal advisor to Carlyle in connection with the transaction.
The acquisition is expected to close in the fourth quarter of 2026, subject to customary closing conditions.
KEY QUOTES:
“Banks are increasingly turning to private capital to help manage their balance sheets, and this transaction reflects the scale and specialized underwriting capabilities that Carlyle’s asset-backed finance platform brings to those relationships. It underscores our ability to commit capital and execute at scale, and our conviction in high-quality consumer credit as a core part of the asset-backed finance opportunity.”
Akhil Bansal, Partner And Head Of Asset-Backed Finance At Carlyle
