This means we still have room for other investors, and we expect to fill our $100 million goal by July.
Lake Park, Florida (PRWEB) April 21, 2009
After spending nearly two decades working solely with institutional investors, Prosperity Partners Inc. recently announced it will accept a limited number of qualified individual investors to fill a demand for $100 million by July.
Prosperity Partners is a buyer of payment streams and prize winnings. The Florida-based company has been in business since 1993, providing capital to recipients of future payments from such things as medical malpractice suits, product liability suits, lottery prize winnings and other long-term payout vehicles.
The company's services enable clients to enjoy the benefits of lump sum payouts rather than having to wait for their money to arrive over the course of years and even decades. To fuel its operations, the company has long accepted institutional investors who wish to buy into an asset-backed product with a high-yielding rate of return.
"Our goal is to fill our $100 million bucket with investors who are interested in rates that range from 6percent to 12 percent for an asset-backed investment grade product that has not yielded a single default for our investors in 15 years," said Greg Hall, director of investor relations.
The decision to open investment opportunities to individuals was prompted by the economy, Hall said. "Because of the economic turmoil, institutional investors have been withdrawing from our industry," he said. "Large firms within the factoring industry have suffered their share of credit woes, causing investors to take pause. Our business model is drastically different. It is due to our differences that we have been consistently able to provide our clients and investors with a high level of security and service."
Since the decision was made to allow individual investors to fill the roles once held only by major institutional investors, Hall said investors have expressed strong interest in working with Prosperity Partners, with a few already in negotiations.
"We are currently in conversations with a number of individuals seeking to place anywhere from $1million to $20 million with us," says CEO Tom Balletta. "This means we still have room for other investors, and we expect to fill our $100 million goal by July."
While the current economic climate is troublesome for institutions, Balletta said it is presenting major opportunities for savvy individuals.
"There are still investment vehicles available that give individuals a strong rate of return and the stability they demand," he said. "Our investment grade asset-backed products provide the perfect vehicle on both scores."
For more information about Prosperity Partners or making an investment, contact the Investment Department at (800) 509-1607 or e-mail GregH@prosperitypartners.com.
About Prosperity Partners Inc.
Since its inception in 1993, Prosperity Partners Inc. has dedicated itself to standing apart from its competition in the field. By placing integrity and quality of service above all else, the company has managed to show both its clients and its investors the best in personalized service. Prosperity Partners specializes in buying settlements related to lawsuits, insurance settlements and lottery and contest winnings.