GE Capital Forms Strategic Relationship With Mitsui & Co.
NORWALK, CT – GE Capital announced today the formation of a new strategic relationship with Tokyo-based Mitsui & Co., Ltd. Under the terms of the arrangement, Mitsui intends to establish an investment management program to co-invest alongside GE Capital in U.S. commercial finance assets. In addition, Mitsui and GE Capital will explore global opportunities in areas such as financing for original equipment manufacturers and renewable energy.
Mitsui will invest $200 million of its own capital in private equity-sponsored loans in the first year of the program. Following that, it will target additional investments in subsequent years. Furthermore, it intends to raise monies from Japanese institutional investors and manage the investment management program.
"We are excited to initiate this relationship with GE Capital, which has strong infrastructure and market presence in the U.S. We believe it can lead us to considerable expansion of strategically attractive investment opportunities that had not previously been available to us," said Atsushi Kume, managing officer, chief operating officer, Financial & New Business Unit, Mitsui & Co.
The investment opportunities are expected to include private equity-sponsored loans as well as large-ticket equipment loans and leases, and bank loans. In addition to sourcing the loans and leases for Mitsui’s investment consideration, GE Capital will service the assets.
"GE Capital has strong relationships, reach and substantial lending capability that help to drive the growth of U.S. mid-market companies. Our agreement with Mitsui will only enhance these efforts," said Dan Henson, president and CEO of GE Capital, Americas. "We’re looking forward to building our relationship with them."
About GE Capital
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (@GECapital).
GE (NYSE: GE) is an advanced technology, services and finance company taking on the world’s toughest challenges. Dedicated to innovation in energy, health, transportation and infrastructure, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.?
About Mitsui & Co., Ltd.
Utilizing its global operating locations, network and information resources, Mitsui & Co. is multilaterally pursuing business that ranges from product sales, worldwide logistics and financing, through to the development of major international infrastructure and other projects in the following fields: Iron and steel products, mineral and metal resources, infrastructure projects, motor vehicles, marine and aerospace, chemicals, energy, foods & retail, consumer services, information, electronics and telecommunications, financial markets and transportation logistics. The company is based in Tokyo, Japan. For more information, please visit Mitsui’s Web site: www.mitsui.com/jp/en/index.html