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FORT LAUDERDALE, Fla., June 23, 2011/PRNewswire-iReach/ -- US Debt Ventures, a Fort Lauderdale, Florida- based private equity firm, today announced the purchase of a $28MM residential first lien loan portfolio from a regional financial institution. The portfolio purchase, which includes 87 loans with collateral property located throughout the state of Florida , represents the inception of US Debt Ventures Fund, L.P. The average unpaid mortgage balance is approximately $325,000.
Todd Billings, CEO of US Debt Ventures stated, "With our in-house analytics and sophisticated management tools, US Debt Ventures fuels its growth through disciplined, quality portfolio acquisitions and creative workout arrangements. We have focused our investments on debt portfolios which we believe are priced well below par and are perhaps being managed inefficiently, so that the purchase provides a unique opportunity for returns to our investors."
US Debt Ventures purchases bulk mortgage portfolios from most the major U.S. financial institutions, as well as many loan servicers and various other owners of distressed loan and REO portfolios. So far in 2011, the US Debt Ventures group has purchased more than 7,000 distressed loans through multiple acquisitions.
About US Debt Ventures:
US Debt Ventures is a private-equity firm based out of Fort Lauderdale, Florida led by Todd Billings and sponsored by a group of high net worth investors. The company focuses on acquisitions of distressed whole loan and REO acquisitions and is an active player in the distressed debt market. For more information please contact 800.716.2370 or visit www.usdebtventures.com
Media Contact: Joanne Polin Profile Marketing & Public Relations, 561-350-8784, jpolin@profilemarkpr.com
SOURCE US Debt Ventures
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