Bruce Passen directs all account receivables (A/R) purchase activities at Tiger, including the sourcing of A/R purchase opportunities, as well as reviewing pricing and collection strategies for all A/R portfolios that are either purchased by Tiger or managed on a fee basis for our clients.
Passen brings 40 years of experience in the debt purchasing field to Tiger. Most recently, from 2010 to 2017, he was a principal with Bikaver Group, LLC in Chicago, where he provided consulting services for banks and other financial institutions to value A/R pools. He was also involved in the purchase and co-purchase of portfolios on a deal-by-deal basis.
Prior to that, he was CEO of Steamboat Partners LLC, a Chicago-based start-up focused on purchasing commercial debt from companies that were in liquidation, as well as appraising debt values for banks and other financial institutions. From 2000 to 2007, Passen served as CEO and managed the start-up and operations of a competitor’s receivables practice. The business was sold to Cerberus in 2007.
Earlier in his career, Passen was CEO of debt collection company Abacus Financial Management Services, also in Chicago. He earned a B.A. from the University of Colorado, Boulder.