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KKR scoops up auto loan portfolio as regional banks shed assets

Synovus Bank agreed to sell the $373 million portfolio in July

Bloomberg News

Private equity giant KKR & Co. has purchased a portfolio of prime auto loans from Georgia-based Synovus Financial Corp., as US regional lenders continue to sell assets to shore up capital. Synovus Bank — whose parent company is Synovus Financial — sold the $373 million portfolio to private credit funds and accounts managed by KKR, […]

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