Daryl Schwartz, the acquisition chief for G8 Capital, a private equity fund that invests in real estate and nonperforming mortgages, left the company last week.
One source who has done business with the company said there have been other recent departures from the firm as well.
In a message on his voice mail Schwartz, a vice president, said he is no longer with the Ladera Ranch, Calif.-based company. He could not be reached for comment. G8’s chief financial officer, Kurt Mullen, did not return a telephone call about the matter.
G8 entered the troubled asset acquisition market early, back in 2007. Since then it has purchased at least 40 portfolios or REO with a principal balance of $200 million, according to press statements on its website.
Last fall it bought 497 REO assets spread across 24 states for an undisclosed price. According to its website, a majority of its purchases have been from banks.