Lloyd Trotter, the chief executive of General Electric's ( GE) industrial division, is leaving the conglomerate to join a New York buyout firm, according to a report.

BusinessWeek said that Trotter will leave GE next month and go to GenNx360 Capital Partners. The firm, the report said, is starting with more than half a billion dollars and will invest in commercial security, industrial water treatment, infrastructure and aerospace companies.

Trotter has been with GE since 1970.
This article was written by a staff member of TheStreet.com.