ADVFN - Advanced Financial Network.
HOME» NYSE » G » GE Stock Price » GE Stock News

Gen Electric Share News

 General Electric Stock Price
GE Stock Price
 General Electric Stock Chart
GE Stock Chart
 General Electric Stock News
GE Stock News
 General Electric Company Information
GE Company Information
 General Electric Stock Trades
GE Stock Trades

GE Capital, Asset Manager CIFC Team Up On Loans

By Katy Burne GE Capital, a financing arm of General Electric, has formed a strategic alliance with $10 billion asset manager CIFC Corp. to explore lending opportunities, underscoring the growing role of non-bank creditors in the financial markets. The agreement will involve a unit of GE Capital shifting the management of a $700 million pool of loans, in the form of collateralized loan obligations, to the oversight of a CIFC unit, and both companies reviewing new investments as they arise. Peter Gleysteen, chief executive of CIFC, said the five-year alliance will bring CIFC's institutional investors closer to the process of originating loans as banks do, rather than participating when loans are sold down, or syndicated, by banks in charge of a deal. "As a bank like GE Capital looks to grow its business, it will increasingly do so by having institutional and other investors co-lend alongside them," said Gleysteen in an interview. "Banks continue to originate virtually all private debt in the U.S. But the capital is increasingly provided by investors who are not banks." GE Capital is one of the largest middle-market lenders in the U.S., and CIFC is a specialized manager known for funds dedicated to CLOs. Under the agreement, a council will be formed by GE and CIFC to look at new opportunities in lending and investment advice for third parties. Heading that council will be Gleysteen of CIFC and Neeraj Mehta, a GE officer. GE Capital will receive 1 million shares of CIFC common stock, warrants to buy 2 million shares of a newly created class of non-voting CIFC preferred stock, and $4.88 million in cash from CIFC. GE has the right to appoint an executive to CIFC's board. Write to Katy Burne at katy.burne@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Gen Electric (GE)
DateTimeHeadline
04/26/201514:33:03General Electric Company Earnings: 4 Things You Might Have Missed
04/26/201510:00:023 Secret Winners From the California Drought
04/24/201519:37:14MetLife Could Take Page From GE, Analysts Say
04/24/201505:49:37Electrolux posts fall in first-quarter profit -- Update
04/24/201503:30:04Electrolux Posts Fall in First-Quarter Profit
04/24/201502:54:58Electrolux Posts Fall in First-Quarter Profit
04/23/201521:17:20Higher Prices Fail to Salvage Profits
04/23/201515:30:22KKR's Quarterly Profit Rises 29% -- 2nd Update
04/23/201513:54:43Statement of Changes in Beneficial Ownership (4)
04/23/201513:00:03General Electric Isn't Letting Tesla Motors Win the Energy Storage...
04/23/201509:55:00GE Capital Provides $320 Million Credit Facility to Diplomat...
04/22/201513:00:00E.ON & GE Christen Wind Farm
04/22/201509:35:14Statement of Changes in Beneficial Ownership (4)
04/22/201509:00:00Advanced Power Helps Buckeye State Add Efficient, Flexible Gas...
04/22/201502:33:45Safran CEO Sees New Leap Aircraft Engine Meeting Performance...
04/21/201510:44:02Did Exelon Corporation Just Quietly Admit That Nuclear Power...
04/21/201509:30:00GE Energy Financial Services Invests in Green Power Investment...
04/21/201507:25:32General Electric Company Given Buy Rating at Argus (GE)
04/20/201523:50:07Wells Fargo Eyes GE Commercial Lender -- 2d Update
04/20/201518:01:38GE in Talks to Sell U.S. Commercial Lending Business -- Update

Gen Electric and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad