Capmark Financial Group has filed for bankruptcy protection, The Wall Street Journal reports. The U.S. commercial real estate finance firm had a consolidated debt of $21 billion and consolidated assets worth $20.1 billion on June 30, 2009, adds Bloomberg.

An investor group, led by KKR & Company, Goldman Sachs Capital Partners and Five Mile Capital Partners, owned about 75% of the company, with GMAC and its employees owning the balance. KKR has written down its investment in Capmark to zero.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Bloomberg.