Reuters reported, citing people familiar with the matter, that State Street is nearing a deal to acquire General Electric’s $115 billion asset management business.

Reuters said State Street has prevailed over other bidders, including Goldman Sachs, for the business, and is now in the final stages of negotiating a deal with GE.

Reuters noted, according to the people, an agreement could come as early as this month and value GE’s asset management business at as much as $500 million.