Capital Trust is a self-managed, real estate finance and investment management company that focuses on credit sensitive financial products. As of Dec 31 2011, Co.'s investment programs focused on loans and securities backed by commercial real estate assets. Co. operates in two reportable segments: Balance Sheet Investment, which includes Co.'s consolidated portfolio of interest earning assets and the financing thereof; and Investment Management, which includes the investment management activities of Co.'s wholly-owned investment management subsidiary, CT Investment Management Co. LLC, and its subsidiaries, as well as Co.'s co-investments in investment management vehicles.