NORWALK, CT-GE Capital Real Estate, based here, and New YorkCity-based Angelo, Gordon & Co. have closed on a $5-billionLegacy Securities Public-Private Investment Fund. The fund waslaunched in October 2009.
With total commitments of nearly $1.25 billion from investorsand an additional $3.7 billion in matching capital and leveragefrom the US Treasury Department, the fund has approximately $5billion to invest in eligible RMBS and CMBS. GE Capital and Angelo,Gordon were selected last year as a fund manager to participate inthe Obama administration’s Legacy Securities Public-PrivateInvestment Program.
A spokesman for GE Capital tells GlobeSt.com that SECregulations prohibit divulging specifics on the fund’s investmentplans to a general audience. He adds, however, that the fund willbe geared strictly to purchasing legacy securities through PPIPrather than new issues.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
