Capital Trust raises new $325m fund.Capital Trust, Inc. announced the final closing of CT Large Loan 2006, Inc. with total equity commitments of $325 million, all from third parties. The fund will co-invest with Capital Trust in real estate mezzanine mez·za·nine n. 1. A partial story between two main stories of a building. 2. The lowest balcony in a theater or the first few rows of that balcony. investments in excess of $50 million and will be managed by CT Investment Management Co., LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Capital Trust. "Designed to allow our private clients to invest side by side with Capital Trust, this fund also provides us with discretionary capital to commit to very large transactions. Going forward, we expect to create additional managed vehicles with targeted investment strategies that are complementary to our balance sheet investment activities," said John R. Klopp, chief executive officer of Capital Trust. The fund held its first closing and made its initial investment in May of 2006, taking $100 million of a $150 million B Note originated by Capital Trust. The fund will employ leverage capped at 1:1 and CTIMCO will earn a management fee equal to 0.75% per annum Per annum Yearly. of invested assets. |
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