Subsequent Events

3 Months Ended

Mar. 31, 2014

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

The Company has evaluated events that have occurred from March 31, 2014 through May 14, 2014 (the date this Form 10-Q was filed), and except as already included in the notes to the consolidated financial statements, it believes that no events have occurred that would require recognition or additional disclosures in these audited consolidated financial statements.

On May 1, 2014, Telos 5, Ltd closed. As of March 31, 2014, $192,940 was carried as investments in loans at fair

value and there was $139,150 in debt on TFI’s consolidated balance sheet.

On May 2, 2014, Tiptree announced that on the terms and conditions set forth in a Redemption Election Notice sent to limited partners of TFP on May 2, 2014, TFP is allowing limited partners of TFP to direct TFP to redeem membership units of Operating Company held by TFP, to occur simultaneously with the redemption by the limited partner of partnership units that indirectly represent the beneficial ownership of the number of shares of Class A common stock to be redeemed upon the redemption by TFP of membership units. The redemption rate is one partnership unit for each 2.798 shares of Class A common stock to be received; provided that, at Tiptree's election, it may instead pay a cash amount (or combination of cash and Class A common stock) equal to the average of the daily closing prices of the Class A common stock for the ten consecutive trading days immediately preceding the redemption date. If all of the limited partners of TFP were to elect to redeem their partnership units for Class A common stock, an additional 30,968,877 shares of Tiptree’s Class A common stock would be issuable (excluding 3,609,420 shares of Class A common stock issuable upon redemption of Operating Company units issuable upon exercise of warrants).