Prudential’s PGIM Inks $3 Billion GreenSky Deal, Expanding Consumer Finance Portfolio

Prudential Financial’s asset management arm, PGIM, agreed Thursday to purchase up to $3 billion in home improvement loans from GreenSky.

The acquisition will occur over a three-year period. This deal establishes a substantial forward flow purchase arrangement for GreenSky.

The move expands PGIM’s investment portfolio into the consumer finance sector. PGIM will integrate these assets into its existing management strategies.

Prudential also maintains its current share repurchase programs. Institutional investors, such as Deutsche Bank AG, recently reported significant new stakes in the company.