FDR Asset Recovery Group Announces Partnership With Flock Advisors for Debt Buying Funds

Richmond Hill, Ontario – FDR Asset Recovery Group LLC announced today that it has entered into a Joint Investment Agreement with Flock Advisors to access capital from Flock’s “Falcon Fund” for the purposes of buying distressed debt portfolio’s in both Canada and the United States.

Nicholas A Papeo, Chief Executive Officer for Financial Debt Recovery Limited — the parent company for FDR Asset Recovery Group LLC — commented, “FDR has historically used its own capital to purchase distressed portfolios. With this new partnership we will be targeting debt sellers in Canada and the United States who sell a minimum of $50million annually”. Mr. Papeo went on to say that “We are very excited to be working closely with Flock Advisors, their commitment to the middle market fits perfectly with our aggressive plans for growth. We have identified portfolios that are attractive to us and with the financial backing of the Falcon Fund we plan on being a very active participant in market over the next 36 months."