Equity Method Investments

3 Months Ended

Mar. 31, 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 periods ended March 31, 2020 and 2019 (in thousands):

	2020		2019
Revenues:
Oak Grove Asset Acquisitions LP	$	—	$	—
CPFH LLC		319		—
HGC Funding I LLC		8		—
Total Revenues	$	327	$	—
Operating income:
Oak Grove Asset Acquisitions LP	$	—	$	—
CPFH LLC		—		—
HGC Funding I LLC		8		—
Total operating income	$	8	$	—

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

	2020		2019
Assets:
Oak Grove Asset Acquisitions LP	$	410	$	1,602
CPFH LLC		21,573		20,016
HGC Funding I LLC		3,038		—
Total assets	$	25,021	$	21,618
Liabilities:
Oak Grove Asset Acquisitions LP	$	26	$	797
CPFH LLC		11,105		10,245
HGC Funding I LLC		—		—
Total liabilities	$	11,131	$	11,042