Treasury Issues Q1 PPIP Report

Through the end of March, public-private investment funds (PPIFs) participating in the Treasury Department's legacy securities Public-Private Investment Program (PPIP) had completed initial and subsequent closings on approximately $6.3 billion of private-sector equity capital, the Treasury reports.

The private-sector equity capital was matched 100% by the Treasury, representing $12.5 billion of total equity capial. The Treasury has also provided $12.5 billion of debt capital, representing $25.1 billion of total purchasing power.

As of March 31, PPIFs have drawn-down approximately $10.5 billion of total capital which has been invested in Eligible Assets and cash equivalents pending investment.

Under the PPIP, the Treasury will invest up to $30 billion of equity and debt in PPIFs established for the purpose of purchasing eligible assets.

The total market value of non-agency residential mortgage-backed securities (RMBS) and commercial mortgage-backed securities (CMBS) held by all PPIFs was approximately $10 billion at the end of March. Approximately 88% of the portfolio holdings are non-agency RMBS and 12% are CMBS.

SOURCE: Treasury Department


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