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We present a generalized singular value decomposition (GSVD) based multi-user (MU) multi-stream multiple-input multiple-output (MIMO) precoding scheme with limited feedback. Our precoding scheme maximizes the signal to leakage and noise ratio (SLNR), so that it does not require any iterations to obtain precoding matrices. However, in MU-MIMO system, the precoding matrix should be computed at transmit side, because the precoding matrix of a user affects those of other users. Accordingly, full channel state information (CSI) for all users is required at the transmitter, which prevents MU-MIMO precoding implementable. To overcome this problem, an efficient limited feedback algorithm optimized to the GSVD based MU-MIMO precoding is proposed. Here, by extracting the parameters to be utilized in GSVD based precoding from the full CSI, the amount of feedback information is reduced. Furthermore, by analyzing their statistical properties, the parameters are efficiently quantized according to their probability densities. Finally, we develop a modified GSVD based precoding considering the channel quantization errors due to the limited feedback.