FirstCity Financial Corporation, founded in 1985, was a diversified financial services holding company headquartered in Waco, Texas. The company's primary business involved the acquisition, management, and resolution of non-performing and sub-performing loan portfolios and other distressed assets from financial institutions globally. It operated through various segments, including Portfolio Asset Acquisition and Resolution, and specialty finance. After facing financial challenges, the company was acquired by Värde Partners, a global alternative investment firm, in a take-private transaction completed in October 2013, and subsequently ceased to operate as an independent public entity.

Founded in

United States