06:52 AM EDT, 06/27/2024 (MT Newswires) -- Carlyle Group ( CG ) and KKR (KKR) have won a $10 billion student loan book auction from Discover Financial, Financial Times reported on Wednesday, citing four people with knowledge of the matter.

The joint bid surpassed a competing offer from Sixth Street, BlackRock, and the Canada Pension Plan Investment Board, according to the Financial Times.

The report added that the auction, which saw the loan book sell above par, drew interest from major private credit firms, including Ares, Blackstone, and Oaktree.

Carlyle's investment in Monogram, a student loan origination platform, strengthened its bid, the report said, adding Carlyle and KKR would split the loan book equally.

Carlyle Group ( CG ), KKR and Discover Financial did not immediately respond to MT Newswires' request for comment.

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