Can a fund established pursuant to the Legacy Securities Public-Private Investment Program be an eligible borrower under TALF?
A financing subsidiary of a Public-Private Investment Fund (PPIF) established pursuant to the Legacy Securities Public-Private Investment Program may be an eligible borrower (an “Eligible PPIF Borrower”) only with respect to legacy CMBS and only if the PPIF is receiving Treasury-supplied debt financing equal to or less than 50 percent of the PPIF’s total equity (including private and Treasury-supplied equity) and satisfies all other borrower eligibility requirements.
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