The Picerne Group’s lasting and trusting banking relationships allow for opportunities to profitably invest in non-performing loan portfolios. The Picerne Group has invested over $1 billion of capital in this business. The Picerne Group’s distressed debt business provides a very clear illustration of the rewards of The Picerne Group’s philosophy of being relational, not transactional.
Between 1999 and 2006, The Picerne Group established itself as a leader in the Japanese non-performing loan market. The company closed fourteen portfolio purchases from a variety of Japanese financial institutions, with a total face value of several billion dollars. These portfolios included loans secured by properties in Canada, Europe, Japan and the U.S.
The opportunity to invest in non-performing loan portfolios arose because The Picerne Group had developed strong relationships both with the Japanese banks selling assets to The Picerne Group, and with the Japanese and U.S. banks providing financing to The Picerne Group. The company’s early entrance into this market and strong asset management strategies resulted in a highly successful program.