Goldman Sachs, which has come under fire for its failed foray into consumer banking, is inching closer to finding a buyer for specialty lender GreenSky. Second round bids for GreenSky were due earlier in August, or about two weeks ago, according to four banking and private equity sources. Sixth Street, an investment firm, is leading a consortium to buy GreenSky which includes KKR, PIMCO and CardWorks, the people said. Apollo Global Management is also vying for Greensky but is not part of the...

Courtesy of Carlyle Group; Courtesy of TSG Consumer Partners; Courtesy of Vista Equity Partners Good morning. Luisa Beltran here, filling in for Sheryl who is off for a few well-deserved days of vacation. Mergers have slowed in the past year due to high interest rates, the war in Ukraine, and inflation. The IPO market also remains mostly closed. But there’s still an option for CFOs seeking a lifeline, or a possible exit, for their companies: private equity firms. There were more than 18,000...

Courtesy of Carlyle Group; Courtesy of TSG Consumer Partners; Courtesy of Vista Equity Partners Good morning. Luisa Beltran here filling in for the Term Sheet team. I’ve been covering private equity and Wall Street for years. I remember in 2007 when Orlando Bravo became a name partner at the firm that eventually turned into Thoma Bravo. I remember when Blackstone listed its shares and how people were underwhelmed by the groundbreaking IPO. I remember when BX, KKR, Apollo Global Management,...

Good morning. Luisa Beltran here, filling in for the Term Sheet team. This week I’ve been reporting on JPMorgan Chase, which has been on a deal spree, buying up or investing in more than 80 companies since 2021. The main reason? Competition. Jamie Dimon, JPMorgan Chase’s billionaire chairman and CEO, has long warned about the competitive threat from fintechs and Big Tech. Companies like Amazon or Google or PayPal are not constrained by legacy software, or the volumes of regulations that banks...

The founders of DailyPay have emerged with their latest startup. Salt Labs, a loyalty payments company focused on the nation’s roughly 79 million hourly workers, has raised $10 million in pre-seed funding. Fin Capital, a fintech-focused venture capital firm that invested in software provider DailyPay, led the round for Salt Labs. Other investors include Anthem Venture Partners, which has funded mobile banking card provider CARD, and DO$H, the cash back app. Salt Labs, of New York City, is...