Distressed Mortgage Acquisition Specialist Gets Strategic Investment

"Liberty Capital Asset Management (LPCM: 0.00 N/A), an asset management company which specializes in the acquisition of distressed mortgages said Thursday that it has executed an agreement with an affiliate of New York-based Silar Advisors LP to invest up to $50 million to acquire defaulted subprime mortgage pools. Silar also will acquire a 6.7 percent interest in Liberty, and an option to purchase additional equity within the next 60 days, under a separate agreement that both companies said extends their partnership."