Equity Method Investments

12 Months Ended

Dec. 31, 2020

Equity Method Investments And Joint Ventures [Abstract]

Equity Method Investments

Note 5 – 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 2020 and 2019 (in thousands):

	2020		2019
Revenues:
Oak Grove Asset Acquisitions LP	$	1,129	$	522
CPFH LLC		15,538	$	10,985
HGC Funding I LLC and Origination I LLC		761		—
Total Revenues	$	17,428	$	11,507
Operating income:
Oak Grove Asset Acquisitions LP	$	237	$	151
CPFH LLC		13,930		5,046
HGC Funding I LLC and Origination I LLC		689		—
Total operating income	$	14,856	$	5,197

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

	2020		2019
Assets:
Oak Grove Asset Acquisitions LP	$	—	$	1,602
CPFH LLC		10,791		20,016
HGC Funding I LLC and Origination I LLC		—		—
Total assets	$	10,791	$	21,618
Liabilities:
Oak Grove Asset Acquisitions LP	$	1	$	797
CPFH LLC		5,374		10,245
HGC Funding I LLC and Origination I LLC		—		—
Total liabilities	$	5,375	$	11,042