Hilco Global Mexico, a division of Hilco Global, acquired a large portfolio of non-performing collateralized loans from one of Mexico’s largest banks. Terms of the deal and acquisition price were not disclosed.
“The acquisition of this portfolio aligns itself well with our investment and growth strategy and strengthens Hilco Global Mexico’s position as a leader within the Credit Administration industry,” said Samuel Suchowiecky, CEO of Hilco Global Mexico.
The portfolio of non-performing collateralized loans will be serviced by Hilco Terracota, a rated loan servicer founded in 2001, and acquired by Hilco Global Mexico in 2017. Hilco Terracota has more than $450 million U.S. assets under management, and has serviced more than 35,000 non-performing and performing loans, for more than 50 clients.
“This acquisition is a signal of just how robust the opportunity is within Mexico and Latin America for Hilco and demonstrates the power of building a management team of experts that understand the unique needs of the marketplace,” said Hilco Global Chairman and CEO Jeffery Hecktman. “We are committed to continuing to grow our footprint within Mexico, providing our current and new clients with the full suite of financial services to help maximize the value of their assets.”
