GE Sells Off Private Equity Business

Fairfield-based General Electric has sold its GE Antares Capital private equity business to the Canada Pension Plan Investment Board in a deal valued at about $12 billion.

GE is looking to sell most of the assets of GE Capital over the next 18 months but plans to keep the financing components that relate to its industrial businesses, according to the Hartford Courant.

It’s been a busy week for GE as the company has railed against the state’s new business tax increases and CEO Jeff Immelt recently sent an email to the company’s Connecticut employees, notifying them that he has “assembled an exploratory team to look into the company’s options to relocate corporate HQ to another state with a more pro-business environment. This will be a thoughtful process which will take many factors, especially employee impact, into consideration. As the team makes progress, we will keep you updated.”

Read more about the sale of GE Antares Capital at the Hartford Courant here.