Getting your player ready...
Boulder-based investment firm ICP Financial has $4.8 billion available through a top European bank that will allow it to buy distressed properties and mortgage portfolios from American banks.
The funding may be used for purchases between $5 million and $180 million, according to a company press release.
The partnership allows ICP Financial to leverage the financial fire power of its new backer, in bailing out small to mid-sized American banks in trouble, so they can immediately start increasing revenue. In some cases, the firm also arranges private financing for banks in distress to raise more capital.
The name of the European bank was not released.
