Specialty finance company J.G. Wentworth Inc., of Bryn Mawr, raised $84 million from institutional investors during the 4th quarter, the company said today.
Chief investment officer Stefano Sola said the funds will be used to purchase structured settlement payments.
The company pays people discounted lump sums for settlements - such as personal injury awards - that would otherwise be paid out over a number of years.
J.G. Wentworth made a quick trip through bankruptcy reorganization earlier this year with a prearranged Chapter 11 filing. - Reid Kanaley