CIT Group to Release IPO

CIT Group, New York, is coming out with an initial public offering of common shares on Care Investment Trust, a real estate investment trust that will invest in healthcare-related mortgage debt and real estate.CIT Group has filed a registration statement on the offering, the pricing on which is not yet available, with the Securities and Exchange Commission. Care Investment Trust will provide financing to various healthcare-related ventures, and will be managed by CIT Healthcare, CIT Group reports. CIT Healthcare will fund its activities through the use of warehouse lines in the short term and by securitization through the collateralized debt obligation format longer term, according to the SEC filing. As well, permanent financing will be used to fund real estate.