Commercial real estate company Capmark Financial filed for bankruptcy protection on Sunday, wiping out the investment of several private equity firms including KKR, reports Reuters. Capmark, which was created in March of 2006 through a leveraged buyout of the commercial real estate assets of General Motors’ finance arm GMAC, warned earlier this year it might file for bankruptcy. The company said Sunday the move was due to conditions in the financial and commercial real estate markets and a lack of available capital.

This entry was posted by Gwen Robinson on Monday, October 26th, 2009 at 4:33 and is filed under Capital markets. Tagged with Capmark, GMAC, kkr. Edit this entry.