Freeport Financial Empties Ship
Mid-market lender Freeport Financial has laid off most of its 23 employees, peHUB has learned. The Chicago-based firm's remaining professionals will help manage the existing portfolio, which currently has just over 60 loans (Freeport is lead agent on around half of them). Freeport was formed around five years ago, with the backing of hedge fund manager Stark Investments. A source says that Stark is not interested in selling off the existing Freeport credits – either piecemeal or altogether – believing that it has a better chance to recoup its money by winding down the portfolio over time.
24 February 2009•2 mins read
