Press Releases
Updated: July 8, 2009 FOR IMMEDIATE RELEASE: July 8, 2009
CONTACT: Treasury Public Affairs (202) 622-2960



JOINT STATEMENT
BY
SECRETARY OF THE TREASURY TIMOTHY F. GEITHNER, CHAIRMAN OF THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM BEN S. BERNANKE, AND CHAIRMAN OF THE FEDERAL DEPOSIT INSURANCE CORPORATION SHEILA BAIR
Legacy Asset Program



The Financial Stability Plan, announced in February, outlined a framework to bring capital into the financial system and address the problem of legacy real estate-related assets...Under this program, Treasury will invest up to $30 billion of equity and debt in PPIFs established with private sector fund managers and private investors for the purpose of purchasing legacy securities...Following a comprehensive two-month application evaluation and selection process, during which over 100 unique applications to participate in Legacy Securities PPIP were received, Treasury has pre-qualified the following firms (in alphabetical order) to participate as fund managers in the initial round of the program:

AllianceBernstein, LP and its sub-advisors Greenfield Partners, LLC and Rialto Capital Management, LLC;
Angelo, Gordon & Co., L.P. and GE Capital Real Estate;
BlackRock, Inc.;
Invesco Ltd.;
Marathon Asset Management, L.P.;
Oaktree Capital Management, L.P.;
RLJ Western Asset Management, LP.;
The TCW Group, Inc.; and
Wellington Management Company, LLP.


...Set forth below is a list (in alphabetical order) of the established small-, veteran-, minority-, and women-owned businesses partnerships:

Advent Capital Management, LLC;
Altura Capital Group LLC;
Arctic Slope Regional Corporation;
Atlanta Life Financial Group, through its subsidiary Jackson Securities LLC;
Blaylock Robert Van, L.L.C.;
CastleOak Securities, LP;
Muriel Siebert & Co., Inc.;
Park Madison Partners LLC;
The Williams Capital Group, L.P.; and
Utendahl Capital Management.