[August 04, 2014]

Emerging Irvine Asset Manager Announces Major Asset Management Agreement

Distressed Capital Management, LLC ("DCM (News - Alert)") today released results of its asset management agreement with a large residential construction company totaling over $180m in AUM. The client is an esteemed company that has integrated itself into every aspect of the real estate business-buying, renovating, renting and selling residential real estate-and now expanding its reach with their partnership with DCM. DCM, an asset manager that focuses on Non Performing Residential and commercial Loans, is a captive asset manager to Plutos Sama, LLC the same holding group that owns BP Law Group, LLP, a national loss mitigation and foreclosure law firm. Chief Investment Officer, Matthew Browndorf, said, "We see our new client as the perfect strategic partner to launch DCM. A construction company with over 700 employees nationwide, DCM's new client brings decades of experience in the hard asset of the actual real estate and construction while DCM can focus on its asset management and loss mitigation strategies."

The asset management agreement had several components including DCM taking over a legacy portfolio of $60m in unpaid balance (UPB) as well as a $120m mandate on future bids. Additionally, the parties have agreed to take approximately $45m of their annual spend and enter into joint special purpos vehicles with DCM with set hurdle rates.

DCM started bidding on trades on June 24^th and has actively bid 19 trades in their first month of operating for Blue Mountain. Pelican Point Capital, LLC, and advisor to DCM, Shad Quraishi, acts as a strategic partner and merchant banker to DCM and participated in this contract.

About Distressed Capital Management, LLC

DCM was formed in January 2012 by a team of lawyers and mortgage banking professionals in Irvine, California with a vision to revolutionize the non-performing whole loan space by integrating technology and an elite nationwide legal network with a seasoned team of distressed whole loan asset managers.

About Pelican Point Capital Partners, LLC

Pelican Point Capital is a merchant bank providing direct investment & co-investment, capital advisory & introduction, bridge financing, as well as debt and equity investment. Our partners range in size from post-seed to mature enterprises in our 12 focus sectors that operate in numerous markets around the globe. Further information on Pelican Point Capital, its partners and advisory committee including bios for each, can be found at the Pelican Point Capital Partners website, please visit www.pelicanpointcapital.com.

About BP Law Group, LLP

In an economic climate where individuals continue to default on mortgages, credit cards, loans and other financial obligations, BP Law Group has proven processes to help clients recover overdue balances as quickly and effectively as possible. With hubs in California, Texas and New York, the firm provides debt collection and a wide range of other legal services from offices around the world. The firm's geographic diversity and extensive investments in technology enable its high-caliber professionals to efficiently cater to clients in the world's leading business and financial markets. For more information, please visit www.bplawgroup.com.

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