The deal is expected to earn tens of millions of pounds for Mark Smith, Car Finance's founder and managing director, Sky News reported, citing sources.

Car Finance has received interest from financial investors and, while no deal has been completed, the board is in confidential discussions with a preferred party, the company said in a statement to Sky News.

Pine Brook is a New York based firm with more than $5 billion (3.30 billion pounds) of assets under management, according to the company website.

The Car Finance Company and Pine Brook were not immediately available for comment.

(Reporting by Zara Mascarenhas in Bengaluru; Editing by Larry King)