Hidden Oak Announces Large Portfolio Purchases

Joel Rabinowitz, President-CEO of Hidden Oak Group, announced Thursday the successful acquisition in May 2011 of three national debt portfolios exceeding $100,000,000 in account balances.

The portfolios were comprised of consumer credit accounts and commercial real estate. A portion of each portfolio was paying/sub-paying and a substantial number of the non-liquidating accounts were reduced to judgment.

Rabinowitz noted, “We were fortunate to acquire these portfolios and believe the debt buying market is beginning to stabilize, permitting sufficiently capitalized companies greater opportunity to purchase receivables.”

Founded in 2002 Hidden Oak Group, Inc. has built its portfolio purchasing business quietly, yet very effectively. Hidden Oak is neither the largest nor the most visible in a rapidly growing industry. Hidden Oak has intentionally chosen to grow in a selective manner purchasing niche portfolios from major financial institutions. While remaining a niche acquirer Hidden Oak and its affiliates have purchased numerous portfolios exceeding $1.5 billion.