Additional firms will invest $2 billion to buy up troubled real estate assets

The Treasury Department will match $1.94 billion in investments from BlackRock, Willington Management and AllianceBernstein as part of the Public Private Investment Program, in which the government plans to partner with private firms to purchase toxic real estate assets. Yesterday’s announcement comes on the heels of the commitment of $1.13 billion by two other firms last week, which, combined with the debt financing promised by the Treasury, brings the purchasing power of the five funds to $12.27 billion.