Fitzgerald Debt Acquisitions LLC is expanding its business plan by opening Fitzgerald Equity Partners, an operation designed to help private investment funds interested in debt sales and collections.
“We have formed Fitzgerald Equity Partners to bring our years of debt management expertise to the people with significant investment ability who desire to enter the debt purchasing arena,” says Jeffrey Hartman, president of Fitzgerald Debt Acquisitions. “We have been successful in managing our own portfolios, and are offering that service to those who want to purchase debt, but need an experienced hand to guide them with the collections process.”
Fitzgerald Debt Acquisitions, based in Boynton Beach, Fla., is a national broker and seller of consumer, commercial, real estate and other debt portfolios.
Hartman will team with Richard Turano to manage Fitzgerald Equity Partners. Turano is a debt buyer and practicing attorney with a law firm in northern New Jersey.
The distressed-debt investment space has become attractive for individual investors and institutions in recent years. Consumer receivables are additional credit products that can provide “substantial returns and diversification to a distressed-debt portfolio,” according to a news release from Fitzgerald.
Adds Turano, “With distressed consumer debt prices on the rise, it’s essential that investors obtain the right prices when making debt purchases. Strong synergies between Fitzgerald Debt Acquisitions and Fitzgerald Equity Partners enable us to consult investors on the entire debt-buying cycle from the initial purchase to the collection process and back-end resale.”
Adds Hartman, “Private investment firms are continuing to search out new avenues of profitability in an increasingly volatile marketplace, and the paltry returns on government investments and risky nature of the stock market make the debt sales marketplace attractive. Investors are looking for more avenues of diversity for their funds, and the opportunities in the debt marketplace provide excellent profit margins."
