Equity Method Investments

12 Months Ended

Dec. 31, 2021

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%. In March 2019, Oak Grove Asset Acquisitions LP was formed for the execution of auction deals with Napier Park, of which the Company holds a 50% share. In March 2020 HGC Origination I LLC and HGC Funding I LLC were formed as joint ventures 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 earnings during 2021 and 2020 (in thousands):

	2021			2020
Revenues:
Oak Grove Asset Acquisitions LP	$	5		$	1,129
CPFH LLC		473			15,538
HGC Funding I LLC and Origination I LLC		238			761
Total Revenues	$	716		$	17,428
Operating income:
Oak Grove Asset Acquisitions LP	$	4		$	237
CPFH LLC		(548	)		13,930
HGC Funding I LLC and Origination I LLC		212			689
Total operating (loss) income	$	(332	)	$	14,856

The table below details the summarized components of assets and liabilities, as at December 31, 2021 and 2020, of the Company’s Joint Ventures at those dates (in thousands):

	2021		2020
Assets:
Oak Grove Asset Acquisitions LP	$	—	$	—
CPFH LLC		11,789		10,791
HGC Funding I LLC and Origination I LLC		10,476		—
Total assets	$	22,265	$	10,791
Liabilities:
Oak Grove Asset Acquisitions LP	$	—	$	1
CPFH LLC		6,099		5,374
HGC Funding I LLC and Origination I LLC		—		—
Total liabilities	$	6,099	$	5,375