Investment Firm Grows Portfolio With REO.com Purchase

to Capital, a private asset management firm, has acquired Irvine, Calif.-based REO.com, a consumer service portal for bank-owned real estate and provider of customized disposition solutions. This acquisition adds to Sorrento Capital's portfolio of businesses, which now includes InformationLogix and its MOS Group Inc. (a loss mitigation service provider); Revise My Loan (a consumer service that assists borrowers with options to improve their debt profiles); and MortgageOutreach.org (an education and information resource for consumers). "The value of Sorrento Capital's portfolio is rapidly increasing, and that's due, in large part, to domain expertise, as well as the ability to extend core competencies across the entire continuum of debt, credit, loss mitigation and related services," says Steve Ozonian, executive chairman of Sorrento Capital. Sorrento Capital plans to expand further into the financial services segment by organically developing and acquiring organizations that service consumers' varied financial needs, the firm says. SOURCE: Sorrento

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