G8 Capital Raises $50M In Committed Capital

Posted by Orb Staff on December 11, 2007 No Comments
Categories : Residential Mortgage

G8 Capital LLC, headquartered in Ladera, Calif., has raised $50 million in committed capital for the purpose of acquiring distressed mortgage loan portfolios, as well as other performing and nonperforming loans and real estate.

Backed by investors and led by seasoned secondary mortgage market professionals, the company acquires both residential and commercial loan portfolios from mortgage companies and financial institutions that are liquidating asset portfolios and looking to get fair wholesale value.

G8 Capital says it closed its first portfolio acquisition last month and expects to close two to three more portfolio acquisitions this month. Funding was raised by a handful of private individuals and includes some of the founder's own capital. The company is currently bidding on loan portfolios worth between $3 million and $25 million, and is buying portfolios between $0.40 and $0.75 on the dollar for nonperforming and performing loans, depending on the portfolio characteristics.

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