Hedge Funds Discussed Buying LendingClub Loans, WSJ Reportsby
Talks involved proposals to fund as much as $5 billion
No agreement has been reached from the discussions with funds
Och-Ziff Capital Management Group, Soros Fund Management and Third Point are among the hedge fund firms that have in recent weeks discussed with LendingClub Corp. proposals to fund as much as $5 billion in loans, the Wall Street Journal reported, citing people familiar with the talks.
No agreement has resulted from the talks, the paper reported.
A Third Point spokeswoman, Elissa Doyle, and Och-Ziff declined to comment when contacted by Bloomberg News. A Soros representative didn’t immediately respond to calls for comment.