One of the world’s largest equipment finance companies has decided to give up the equipment finance business and is going back to focusing on making everything from jet engines to CT scanners.
The $27 billion that GE has in real estate assets is mostly going to Blackstone Group and Wells Fargo. The remaining $165 billion in assets that GE has financed will find new owners in the near future.
The landscape of the equipment finance industry will certainly change as certain asset classes will now see a new financing leader and manufacturers will need to find new partners for financing equipment.
You can read a good article about the sale in the New York Times: GE Capital