The Death of the Rolodex:
Why Data Beats Networking
By Jeffery Hartman | Director of Portfolio Liquidity
For decades, the secondary debt market was built on the "Conference Circuit." Deals were cut over steak dinners, and pricing was determined by who you knew, not what the asset was worth. In 2026, this model is obsolete.
The "Schmooze" Tax
When a broker relies on their personal network to sell your portfolio, you pay a hidden cost we call the "Schmooze Tax." This results in limited reach, implicit bias towards "friendly" buyers, and time decay that erodes your IRR.
The Pivot to Algorithmic Liquidity
At Fitzgerald Advisors, we do not rely on cocktail parties to clear Distressed CRE Debt or Fintech Portfolios. We rely on The Debt Catalyst™.
We stratify portfolios based on vintage and recovery probability before they go to market. The result? The buyer isn't paying for a relationship. They are paying for Predictable Yield.
The Verdict
We view liquidity as a forensic financial operation, not a social event. If you are a lender looking to exit a position with zero friction, initiate a Strategic Divestiture.