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Upstart Card Brokerage Firm Has A Pretty Good 2003

PETERBOROUGH, N.H. - Brookwood Capital, perhaps the youngest and least recognized of the credit card portfolio brokers, reported having facilitated the sale of between 10 and 12 credit card portfolios in 2003, roughly half of them representing credit union sellers according to Tim Kolk, Brookwood's Managing Partner. The firm's other...

By David Morrison | Updated on January 20, 2004

PETERBOROUGH, N.H. – Brookwood Capital, perhaps the youngest and least recognized of the credit card portfolio brokers, reported having facilitated the sale of between 10 and 12 credit card portfolios in 2003, roughly half of them representing credit union sellers according to Tim Kolk, Brookwood’s Managing Partner. The firm’s other credit card portfolio clients were banks, Kolk said, adding that the firm’s smallest portfolio was estimated at $1 million in outstanding balances while the largest, belonging to a bank, was estimated at worth $75 million. Among the firm’s most recent brokered deals was that of South Western Federal Credit Union, a $137 million institution headquartered in La Habra, California to InfiCorp. Southwestern’s portfolio valued at $4.8 million as of September 30, 2003.

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