client transactions

 Center Street hired for full portfolio management of $100 million dollar subprime portfolio after originator shut down by regulators and court-appointed receiver arranged sale to Fund.  Center Street acts on Fund’s behalf with third party servicer to manage collection strategy and exercise discretion for Fund’s benefit.

Initially engaged by PE firm that owned a subprime finance company to provide several cash flow scenarios enabling the PE firm to evaluate options: (1) selling the assets, (2) liquidating the portfolio with Center Street oversight, or (3) moving the portfolio to a third party servicer with Center Street oversight. Then Center Street was retained to take over and manage the finance company to enable a non-recourse sale of its assets.

Initially hired to broker sale of a $12 million subprime portfolio. Determination was made to not sell and to move the portfolio to another servicer.  Center Street managed the entire transition to the new servicer and performs full portfolio management with daily interaction with the third party servicer.  Center Street's responsibility for full portfolio management includes working with the hedge fund’s accounting firm to ensure the servicers certificate is accurate along with full reconciliations.

Hired to provide full range of analytical support and reporting for the bank’s specialty lending division.  Center Street assumed responsibility for all reporting and tracking for internal management and external reporting needs of the bank.  Center Street's role quickly expanded to provide compliance support as our initial review identified areas for compliance-related corrective action.  Bank was able to self-report to regulators with remedial action already addressed thus avoiding adverse regulatory action.