Galaxy Asset Management and Carval Partner to Manage Investments In Consumer Loan Portfolios In the U.S.

CarVal Investors, LLC and Galaxy Asset Management have announced that the two companies will manage investments, on behalf of their clients, in a variety of consumer debt asset classes, including credit card receivables and various other consumer loans and receivables in the United States.  Galaxy and CarVal Investors currently manage investments in various Latin American countries.  Galaxy will also function as a third-party servicer for other consumer receivables.

“As a leading manager of investments in U.S. loan portfolios, CarVal Investors is pleased to work with Galaxy, a company that shares our continued interest in the consumer debt market,” said Wes Schiffler, managing director with CarVal Investors.  “Galaxy’s leadership has more than 50 years of combined experience and we have confidence in their ability to be successful in the industry.”

“CarVal Investors has a long history in managing investments in consumer assets on behalf of its clients, an experienced team and the expertise to effectively navigate risk and determine the inherent value of a portfolio,” said Tye Hanna, CEO of Galaxy.  “By working with CarVal Investors, Galaxy is well-positioned to pursue new opportunities in this challenging market.  We have a long and rewarding history in working with CarVal Investors and we look forward to this new and exciting opportunity.”

About Galaxy Asset Management
Galaxy Asset Management is positioning itself to be a leading consumer receivable asset management company that specializes in the purchase, management and liquidation of performing and non-performing consumer receivables both in the U.S. and Latin American Markets.  It is led by one of the most experienced management teams in the industry.  The team is comprised of four former Worldwide Asset Management and West Asset Management executives including Tye Hanna, Ken Hurt, Rich Lundeberg and Juan Blanco.  It currently has over 250 employees in its Atlanta, Georgia, Las Vegas, Nevada, and Guadalajara, Mexico locations.  More information is available by calling 1-800-305-9811.

About CarVal Investors
Founded in 1987, CarVal Investors has managed investments in more than $25 billion in assets in 3,600 transactions in 43 countries.  Today, the firm has $9.5 billion in assets under management and has 350 employees in 12 offices across the globe.  CarVal Investors has managed investments in more than $2 billion of unsecured consumer assets, including general purpose credit cards, retail and private-label credit cards, installment loans, telecommunications receivables, automotive loan and deficiencies and other unsecured receivables.  More information is available at www.carvalinvestors.com.