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FORT LAUDERDALE, Fla., Aug. 15, 2011/PRNewswire-iReach/ -- US Debt Ventures, a Fort Lauderdale, Florida- based private equity firm, today announced two portfolio purchases over the past 30 days totaling approximately $12MM, acquiring 171 distressed loans. The first acquisition is comprised of first lien non-performing loans and REO's and was bought from a national banking institution with Florida-based underlying collateral. The average unpaid principal balance in this portfolio is $266,000. The second, more recent investment was in a second lien performing loan portfolio from a national banking institution with collateral assets located throughout the United States.
Kwame Jackson, President of US Debt Ventures stated, "Our purpose is clear- we intend to maximize returns by pursuing the best risk-adjusted work-out strategy on a loan by loan basis on behalf of our investors. We have a growing number of sophisticated tools, third party data sources, and internal feedback loops that aid in our strategy optimization and execution efforts." |
