Signature Group Investments acquired a portfolio of non-performing and performing loans from a New York City based community bank.
New York, NY (PRNewswire) January 13, 2014 — Signature Group Investments (SGI), in partnership with a leading national private equity group, purchased a pool of non-performing and performing loans from a New York City based community bank at the end of December 2013. This transaction is the first portfolio loan sale that this bank has conducted.
Nick Jekogian, CEO of SGI, explained, “Signature prefers doing deals with community banks. There are about 6,800 of them across the U.S., and many are still holding the liabilities of non-performing loans on their books. SGI’s program allows banks to eliminate these liabilities and the costly burden of managing non-performing assets.”
SGI is a privately held investment organization that specializes in the acquisition and management of real estate and related equity, debt, and hybrid investments on behalf of private and institutional investors. SGI’s entrepreneurial approach and active management allow it to employ innovative strategies to maximize recovery for lenders and returns for its investment partners.
SGI has a core expertise in U.S. Real Estate with a portfolio of apartment, retail, office, and industrial projects across the country and in the Caribbean. SGI has a major focus on the acquisition and repositioning of distressed debt and corporate assets internationally. SGI and its affiliates have made more than 1,000 separate equity, debt, or corporate acquisitions with a deal value in excess of $1 Billion over the past 20 years.