Goldman Sachs Asset Management is leading a group of private credit lenders in discussions to provide approximately £750m ($971m) in private credit financing to SLR Consulting, an environmental advisory firm owned by private equity firm Ares Management Corp, according to a report by Bloomberg.

The report cites unnamed sources familiar with the situation as revealing that the loan, denominated in sterling, is intended to refinance existing private credit for the UK-based company.

The deal is still in the negotiation phase, with the final size yet to be confirmed, according to the sources.