Question-and-Answer Session
Operator
(Operator instructions) Our first question will come from the side of Kent Salvo [ph] from LPL Financial. Your line is open.
Kent Salvo – LPL Financial
Good morning, gentlemen. Thanks for your time. In all the numbers that were being read off, I was trying to find what’s the exposure on the repurchase agreements that Capital Trust would have to refund. And I am viewing those are spread over periods of time, but can you –?
Geoff Jervis
The total amount of the remaining repurchase agreements is just over $500 million, $503 million.
Kent Salvo – LPL Financial
And there is $900 million of, basically, dry powder; is that what I heard John Klopp say?
John Klopp
Yes, sir. That dry powder, so to speak, constitutes committed but undrawn equity in two of our managed funds, one is called CT Opportunity Partners, the other is called CT High Grade II. They are essentially managed funds that our subsidiary, CT Investment Management Company, is the sponsor and manager of. They have different strategies, but they are actively in their investment period. So it’s distinct from the balance sheet of the parent company, but part of our investment management business.
Kent Salvo – LPL Financial
All right. So, that money is committed to grow in those two managed funds then?
John Klopp
Correct.
Kent Salvo – LPL Financial
Okay. All right. Thank you very much.
John Klopp
Thank you.
Operator
(Operator instructions) And it appears that we have no further questions at this time.
John Klopp
Then, thank you all again for joining us. We will see you next quarter.
Operator
This does conclude today’s teleconference. You may disconnect at anytime. Thank you for joining and have a wonderful day.
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