Capital efficiency

Norwalk, Conn., May 18 – GE Capital Real Estate and Angelo, Gordon & Co. today announced the closing of their Legacy Securities Public-Private Investment Fund. The fund was launched October 30, 2009.

With total commitments of nearly $1.25 billion and an additional $3.7 billion in matching capital and leverage provided by the U.S. Treasury, the fund has approximately $5 billion to invest in eligible non-Agency residential mortgage-backed securities and commercial mortgage-backed securities.

GE Capital Real Estate and Angelo, Gordon & Co. were selected by the U.S. Department of the Treasury as a fund manager to participate in the Treasury’s Legacy Securities Public-Private Investment Program.

“Raising a fund of this size in the current economic environment is a significant achievement, and in line with our strategy of launching an investment management business,” said Ron Pressman, president and CEO, GE Capital Real Estate.

“Our extensive commercial real estate expertise and trading discipline continues to enable our team to identify and acquire securities at attractive risk-adjusted yields,” Pressman said.

A broad cross-section of investors participated in the fund, including corporate and public pensions, endowments, high-net-worth individuals and a sovereign wealth fund.

About GE Capital Real Estate

GE Capital Real Estate is one of the world's premier commercial real estate investment companies, with US$80 billion in assets and a presence in 31 markets throughout the world. GE Capital Real Estate launched its Global Investment Management business in 2008 to provide third party investors access to GE's global investing capabilities and expertise. Global Investment Management develops and executes investment strategies offering attractive returns to investors, manages investment vehicles on behalf of those investors, and coordinates all investor relations. For more information:

gecapitalrealestate.com/invest

Press contact: John Oliver, GE Capital Real Estate, 203 984 7757; john.oliver@ge.com