In conjunction with this strategic equity investment, Goldman Sachs has committed to offer the company a $1 billion warehouse facility that will allow the company to access a new source of funding for its business.
Jack Kopnisky, CEO and president of First Marblehead, said: Goldman Sachs’ investment and financing provides our company with additional capital resources to fund our long-term strategy. In the current market, we plan to continue to focus on prudent credit underwriting. We believe this will allow us to provide the greatest value to our shareholders, our clients, students and their parents, and to our employees.
