Sigma Financial Group enters debt purchase
Originally posted by 5corpio

Sigma Financial Group is to enter the debt purchase market after private investor Cyrus Capital Partners acquired a majority stake in the firm.

Cyrus Capital will provide Sigma with the funds to purchase individual portfolios at prices up to £20m alongside its acquisition of a majority stake. Tim Freeman, Sigma’s chief executive, told Credit Today that Cyrus Capital had agreed to provide a finance facility for portfolio purchase over 5 years. "Cyrus Capital has the equity and the debt but the finance is structured in such a way as if we had a separate bank providing funding," he said.

Freeman and the other members of Sigma’s management team, Mike Harfield as director of operations and strategy, and Gary Gilburd, managing director of sales and recoveries, will retain stakes as.....Read more on todays story----> Credit Today online