Equity Method Investments

9 Months Ended

Sep. 30, 2020

Equity Method Investments And Joint Ventures [Abstract]

Equity Method Investments

Note 6 – Equity Method Investments

In November 2018, CPFH LLC was formed to purchase certain real estate assets among partners in a joint venture. The Company’s share of the Joint Venture is 25%. During 2019, the Company held a 50% share in the Oak Grove Asset Acquisitions LP, an entity formed for the execution of auction deals with Napier Park. In March 2020, the HGC Funding I LLC joint venture was formed with a partner for purposes of conducting business relating to the sourcing, origination and funding of loans to debt purchasing clients. The table below details the Company’s joint venture revenues and net income during the nine months ended September 30, 2020 and 2019 (in thousands):

	Nine Months Ended September 30,
	2020		2019
Revenues:
Oak Grove Asset Acquisitions LP	$	1,129	$	—
CPFH LLC		1,254		11,106
HGC Funding I LLC		324		—
Total Revenues	$	2,707	$	11,106
Net income:
Oak Grove Asset Acquisitions LP	$	249	$	—
CPFH LLC		243		5,068
HGC Funding I LLC		308		—
Total net income	$	800	$	5,068

The table below details the summarized components of assets and liabilities, as of September 30, 2020 and December 31, 2019, of the Company’s joint ventures at those dates (in thousands):

	September 30,		December 31,
	2020		2019
Assets:
Oak Grove Asset Acquisitions LP	$	624	$	1,602
CPFH LLC		24,748		20,016
HGC Funding I LLC		6,300		—
Total assets	$	31,672	$	21,618
Liabilities:
Oak Grove Asset Acquisitions LP	$	5	$	797
CPFH LLC		12,700		10,245
HGC Funding I LLC		10		—
Total liabilities	$	12,715	$	11,042