As we continue to find ourselves in one of the most challenging years in modern times, it is critical for all of us to understand how the disposition and sale of impaired and charged off loans are being addressed in this complex and dynamic time. Our panel of experts have insights to share from many years on both the buy and sell sides of this critical piece of our economy. Join us to learn what to expect and where they see the current and future opportunities.
Oak Shore Capital is an investment management firm seeking absolute return strategies. Oak Shore acquires monthly portfolios of fresh charged-off consumer debt directly from originating lenders; and uses owner-run third-party collections agencies and a systematic approach to capture front loaded streams of cash flow.
Yonel Devico is a Founder of Crosby Capital, with primary responsibility for investment originations and underwriting, as well as oversight of Crosby Capital’s servicing, asset management, and foreclosure activities. Mr. Devico is also the Founder and Principal Manager of Crosby Capital USA, a mortgage investment company located in Miami, FL that has purchased more than 300 loans with a total UPB value of over US$100 million. Previously, Mr. Devico founded Broome Capital, a multi-family residential real estate investment platform that was acquired by a Canadian private equity fund. Prior to founding Broome Capital, Mr. Devico was working in the Sales and Trading department with Société Générale’s Equity Derivatives Group in Paris. Mr. Devico holds a Master of Science of Real Estate Development from Columbia University, a Master’s Degree in Business Management from Audencia Business School in Nantes, France and has attended the Real Estate Manageement Program at Harvard Program at Harvard Business School. He is fluent in French, Arabic, Spanish, English, Portuguese and Italian. He lives in Miami Beach, FL with his wife Anna, an attorney and their daughter.
BBVA USA Bancshares, Inc. is a Sunbelt-based bank holding company whose principal subsidiary, BBVA, operates 649 branches, including 336 in Texas, 89 in Alabama, 63 in Arizona, 61 in California, 45 in Florida, 37 in Colorado and 18 in New Mexico. BBVA ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (6th).
PBIRG is a membership based not-for-profit corporation in Florida; comprising a group of high-net-worth individuals that are active investors, investment professionals, and family office members and executives. Members share and benefit from the group’s collective investing intelligence and from monthly presentations by targeted investment professionals. Members are diverse but many are entrepreneurs who have transitioned to being full time investors; and who wish to participate on a monthly basis in a peer-to-peer learning experience that is independent from major institutional investment advisors. Most group events take place in Palm Beach, one of the wealthiest and most exclusive locales in the world. Group events provide a safe, collegial and stimulating environment for members to discuss and share actionable investment ideas, as well as other issues relating to significant wealth. Members, by virtue of their financial resources, can be overwhelmed by investment advisors and offerings of all kinds. The ability to discuss opportunities in an unbiased and trusted environment of peers that are not selling products/services is therefore one of the major benefits of membership.