10:33 AM EST, 11/12/2025 (MT Newswires) -- KKR (KKR) entered a multi-year private credit partnership with Sallie Mae (SLM), Sallie Mae said Wednesday.

Under the partnership, KKR-managed credit funds and accounts will acquire an initial seed portfolio of Sallie Mae's private education loans and at least $2 billion in newly originated loans annually for an initial three-year term through KKR's asset-based finance strategy, Sallie Mae said.

Sallie Mae will maintain customer relationships and continue servicing the loans sold to KKR, while earning ongoing fees for servicing, program management, and industry expertise.

Shares of KKR were up 1.5%, while Sallie Mae shares rose 3.3% in recent trading.

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