If the people running it think this is a good idea, then no wonder GE Capital is in such a mess that it has to tap into the $700 billion government bailout of financials:

NEW YORK (20 November 2008) — The Peacock Equity Fund, the joint venture between GE Capital’s Media, Communications & Entertainment finance business and NBC Universal, today announced that Ben Silverman has joined the fund’s Board of Directors. Silverman, the Co-Chairman of NBC Entertainment and NBC Universal Television Studio, brings his experience in media, production, and advertising to help identify media investment opportunities for the $250 million fund, which has offices in New York, London, and Singapore.

peacock-ben.JPG“We are extremely excited to have Ben join the Peacock board,” said Michael Chen, President & CEO of GE Capital’s Media, Communications & Entertainment business, and a Peacock board member. “He brings a wealth of knowledge and contacts in the media and entertainment space and a great track record that will help the Peacock Fund uncover the best investment opportunities.”

“Peacock Equity has been incredibly successful and I’m honored to join the board,” said Silverman. “Entrepreneurs can utilize not only the traditional dynamics of this fund but also access the involvement of exceptional business units and leaders.”

Peacock Equity is a $250 million global capital fund co-founded by GE Capital’s Media, Communications & Entertainment business and NBC Universal. Introduced in April 2007, the joint venture focuses on companies developing technologies, platforms or business models that are a strategic fit to NBC Universal and have high growth potential. Peacock Equity’s capital investments include advertising services, digital content and communities, and wireless and international platforms.

With nearly $10 billion in assets and offices in Atlanta, Chicago, Hong Kong, London, Los Angeles, New York, Norwalk (HQ) and Singapore, GE Capital’s Media, Communications & Entertainment business is a global strategic partner to these industries and the technologies that enable them.