Carlyle has agreed to acquire a $7.7bn (£5.8bn) portfolio of unsecured personal loans from US bank Truist as it expands its asset-backed finance (ABF) business.

The portfolio primarily comprises fixed-rate, fully amortising loans to prime and super-prime borrowers, representing a seasoned pool of consumer credit.

The transaction is being led by Carlyle’s ABF team, which sits within its Global Credit platform. The platform had approximately $211bn in assets under management as of 30 June 2026.

“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,” said Akhil Bansal, partner and head of ABF at Carlyle.

“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.”

Carlyle said the acquisition builds on its experience working with banks on large and complex portfolio transactions, while strengthening its existing relationship with Truist.

Its ABF business invests across private fixed income and asset-backed assets, providing financing solutions to businesses, specialist finance companies and asset owners, as well as acquiring portfolios of financial assets.

The transaction is expected to close in the fourth quarter of 2026.

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