I think some funds just bought some tranches for about 5% to 22% of their marked value.
Give the man a dollar!
Indeed, private equity firms are already purchasing non-performing assets for pennies on the dollar. From what I’ve heard most of these are domestic outfits, as they have a better understanding of the local markets here.
I expect this trend to pick up and foreign equity to get involved soon.
Something else to look for; our government granting citizenship in exchange for purchasing distressed properties at some fixed minimum.
