General Electric Looking to Shed Private-Equity Lending Businesses

May 27 2015 | 9:53pm ET

General Electric is prioritizing the sale of its lending business to private equity firms. A deal could fetch more than $17 billion, which would make it the largest U.S. finance deal since the financial crisis.

During an investor conference in New York on Wednesday, GE Capital chief Keith Sherin said that private-equity loan company GE Antares is on the block, and that other related deals are occuring quickly.

Apollo Global Management, Ares Management, the Canada Pension Plan Investment Board, Guggenheim Securities, and KKR & Co. are prospective bidders. Reports speculate a deal could occur next month.

The plan is part of a broader strategy by General Electric to shed roughly $200 billion in financial assets and shift its corporate focus on its industrial and manufacturing units.

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