Equity Method Investments

3 Months Ended

Mar. 31, 2022

Equity Method Investments And Joint Ventures [Abstract]

Equity Method Investments

Note 6 – Equity Method Investments

In November 2018, CPFH LLC, of which the Company holds a 25% share, was formed to purchase certain real estate assets among partners in a joint venture. In March 2019, Oak Grove Asset Acquisitions LP, of which the Company holds a 50% share, was formed for the execution of auction deals with Napier Park. 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 the three months ended March 31, 2022 and 2021 (in thousands):

	Three Months Ended March 31,
	2022		2021
Revenues:
CPFH LLC		229		108
HGC Funding I LLC and Origination I LLC		327		—
Total revenues	$	556	$	108
Operating (loss) income:
CPFH LLC		13		—
HGC Funding I LLC and Origination I LLC		327		—
Total operating (loss) income	$	340	$	—

The table below details the summarized components of assets and liabilities of the Company’s joint ventures, as of March 31, 2022 and December 31, 2021 (in thousands):

	March 31,		December 31,
	2022		2021
Assets:
CPFH LLC		12,089		11,789
HGC Funding I LLC and Origination I LLC		17,922		10,476
Total assets	$	30,011	$	22,265
Liabilities:
CPFH LLC		6,105		6,099
HGC Funding I LLC and Origination I LLC		—		—
Total liabilities	$	6,105	$	6,099