Equity Method Investments

9 Months Ended

Sep. 30, 2021

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 nine months ended September 30, 2021 and 2020 (in thousands):

	Nine Months Ended September 30,
	2021			2020
Revenues:
Oak Grove Asset Acquisitions LP	$	5		$	1,129
CPFH LLC		350			1,254
HGC Funding I LLC and Origination I LLC		73			324
Total revenues	$	428		$	2,707
Operating (loss) income:
Oak Grove Asset Acquisitions LP	$	4		$	249
CPFH LLC		(402	)		243
HGC Funding I LLC and Origination I LLC		51			308
Total operating (loss) income	$	(347	)	$	800

The table below details the summarized components of assets and liabilities of the Company’s joint ventures, as of September 30, 2021 and December 31, 2020 (in thousands):

	September 30,		December 31,
	2021		2020
Assets:
Oak Grove Asset Acquisitions LP	$	—	$	—
CPFH LLC		11,653		10,791
HGC Funding I LLC and Origination I LLC		4,110		—
Total assets	$	15,763	$	10,791
Liabilities:
Oak Grove Asset Acquisitions LP	$	—	$	1
CPFH LLC		5,852		5,374
HGC Funding I LLC and Origination I LLC		11		—
Total liabilities	$	5,863	$	5,375