Clifford Chance advises KKR on private credit strategic partnership with Sallie Mae

"Clifford Chance advised KKR on a multi-year private credit partnership with Sallie Mae under which KKR will acquire an initial seed portfolio of private education loans and buy at least US$2 billion of newly originated loans annually for an initial three-year term. KKR's investment will be made through KKR-managed credit funds and accounts via its Asset-Based Finance strategy."

Clifford Chance advised KKR in relation to its strategic private credit partnership with Sallie Mae. Under the terms of the agreement, KKR expects to purchase an initial seed portfolio of private education loans and to acquire a minimum of US$2 billion in newly originated private education loans annually for an initial three-year term. The arrangement establishes a multi-year purchasing commitment under which KKR will source loans from Sallie Mae. KKR's investment will be made through KKR-managed credit funds and accounts and executed via the firm's Asset-Based Finance strategy. Clifford Chance represented KKR with a team composed by: partner Alistair Dunlop (lead), partner Jim Cotins, associates Tom Kearney, Grace Mayes and Frano Katalinic; supported by partner Darren Littlejohn and expatriate lawyer Sam Steinert on hedging matters; and partner Jim Gouwar and associate Michaela Morr on tax matters.

Clifford Chance advises KKR on private credit strategic partnership with Sallie Mae

Read the full story

Cookie Preferences

Strictly Necessary

Analytics & Statistics

Marketing & Ads