PGIM, Prudential Financial’s asset management arm, has agreed to buy roughly $3 billion of loans from home improvement lender GreenSky under a three-year deal. The loans will be purchased through a forward flow agreement, in which investors commit to buy loans before they are originated. PGIM manages $1.5 trillion across public and private asset classes and is scaling its asset-backed financing platform, an area where traditional banks have pulled back. Oliver Nisenson, head of private asset-based finance at PGIM, said home improvement lending remains a compelling consumer-credit segment and that aging housing stock is increasing demand for essential home infrastructure and improvements. The transaction follows PGIM’s commitment to provide $4 billion for new land banking projects to Domain Real Estate Partners. Goldman Sachs sold Atlanta, Georgia-based GreenSky and associated loans to a consortium led by investment firm Sixth Street Partners in 2024.