Public-Private Investment Program
Public-Private Toxic Asset Purchases
9
Recipients
$19B
actually invested, loaned, or spent
Addressing one of the roots of the financial crisis, the hard-to-value mortgages and asset-backed securities on banks' balance sheets, the program sought to jump-start the market for these assets. Under the program the government both invested alongside private investors and provided them cheap financing in the hope that with the extra help, the private investors would reach a price at which they're willing to buy and banks are willing to sell.
Treasury originally set aside as much as $100 billion for the program, but then said that it expected to use only up to $30 billion. It then reduced the maximum amount to $22.4 billion.
The following list shows the 9 recipients of Public-Private Investment Program.
| Name | State | Date Entered | Disbursed by PPIP | Returned to PPIP |
|---|---|---|---|---|
| UST/TCW Senior Mortgage Securities Fund, L.P. | Del. | Sep. 30, 2009 | $356,250,000 | $377,236,495 |
| RLJ Western Asset Public/Private Master Fund, L.P. | Del. | Nov. 5, 2009 | $1,861,578,258 | $2,333,299,317 |
| Blackrock PPIF, L.P. | Del. | Oct. 2, 2009 | $1,581,184,800 | $2,017,362,973 |
| Wellington Management Legacy Securities PPIF Master Fund, LP | Del. | Oct. 1, 2009 | $3,448,461,000 | $4,150,991,335 |
| AG GECC PPIF Master Fund, L.P. | Del. | Oct. 30, 2009 | $3,352,197,510 | $4,278,725,223 |
| Oaktree PPIP Fund, L.P. | Del. | Dec. 18, 2009 | $1,666,904,633 | $1,958,331,409 |
| Invesco Legacy Securities Master Fund, L.P. | Del. | Sep. 30, 2009 | $1,742,880,000 | $2,319,818,945 |
| AllianceBernstein Legacy Securities Master Fund, L.P. | Del. | Oct. 2, 2009 | $3,192,141,738 | $3,648,526,801 |
| Marathon Legacy Securities Public-Private Investment Partnership, L.P. | Del. | Nov. 30, 2009 | $1,423,550,000 | $1,823,150,629 |