Navient Corp. (NAVI), a prominent student loan servicer, announced on Monday that it has entered into an agreement to divest its Government Services unit to a partner of the Los Angeles-based investment firm, Gallant Capital Partners, LLC. The specific terms of this transaction remain confidential.
The Government Services sector of Navient encompasses divisions such as Navient Business Processing Group, Duncan Solutions, Gila (operating as Municipal Services Bureau), Pioneer Credit Recovery, and Navient BPO.
The proposed sale includes approximately 1,200 employees and is projected to finalize in the first quarter of 2025, pending regulatory approvals and other customary conditions.
