Capital Trust Finalizes $540 Million Fund

Capital Trust Finalizes $540 Million Fund

NEW YORK, July 16 /PRNewswire-FirstCall/ -- Capital Trust, Inc. (NYSE: CT) today announced the final closing of CT Opportunity Partners I, LP, a private fund with total equity commitments of $540 million. Capital Trust has committed to invest $25 million, with the remaining equity coming from third party investors. The fund will seek to exploit immediate and longer term opportunities emanating from the current financial market dislocation. The fund is managed by CT Investment Management Co., LLC ("CTIMCO"), Capital Trust’s wholly-owned investment management subsidiary.
"This fund represents another important step in the build-out of our investment management practice," said John R. Klopp, CEO of Capital Trust. "Coupled with the high grade fund that we announced in June, we have raised over $1.2 billion of private equity capital in the last six months, positioning CT to take advantage of opportunities at all points in the real estate capital structure."
CT Opportunity Partners I, LP held its first closing in December 2007 and has a three-year investment period. CTIMCO will earn management fees equal to 1.60% of the aggregate committed capital during the investment period and 1.60% per annum of the aggregate invested capital thereafter, plus incentive management fees after investors receive a return of capital and a preferential return.
Forward-Looking Statements
The forward-looking statements contained in this news release are subject to certain risks and uncertainties including, but not limited to, new origination volume, the continued credit performance of the Company’s loan and CMBS investments, the asset/liability mix, the effectiveness of the Company’s hedging strategy and the rate of repayment of the Company’s portfolio assets, as well as other risks indicated from time to time in the Company’s Form 10-K and Form 10-Q filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
About Capital Trust
Capital Trust, Inc. is a real estate finance and investment management company that specializes in credit sensitive structured financial products. To date, the Company’s investment programs have focused primarily on loans and securities backed by commercial real estate assets, and the Company has executed its business both as a balance sheet investor and as an investment manager. Capital Trust is a real estate investment trust traded on the New York Stock Exchange under the symbol "CT." The Company is headquartered in New York City.
SOURCE Capital Trust, Inc.