NEW YORK, Oct. 18, 2011 /PRNewswire/ -- Turner Hughes Corporation today announced that it will establish a private distressed asset fund.
The fund will seek to acquire distressed home loans, commercial mortgages, mortgage securities and real estate assets from banks and financial institutions.
The Company intends to have an initial capitalization of $50,000,000 million from private investment sources with the possibility of increasing the capitalization to a maximum of $100,000,000 million.
This press release does not constitute an offer of securities for sale. It contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause results to differ. Statements are based on information available as of the date hereof, and the company undertakes no obligation to update any statement to reflect occurrences after the date of this release.
SOURCE Turner Hughes Corporation