Francisco cofounded CIAC in 2009. CIAC is one of Puerto Rico's largest wealth management companies, with over $5 billion in invested reserves, including over $400 million in sub-performing commercial loans and real estate investments. Mr. De Armas specializes in troubled loans, developing debt management strategies that result in effective and sustainable company turnarounds. He is an involved participant in the contract procurement, underwriting, and settlement of the properties purchased and managed by CIAC as the firm's new Principal and Managing Member.

Mr. De Armas is also a co-founder of CIAC Consortium II, LLC, a private equity firm that co-invests in selected acquisitions of properties managed by CIAC. The Fund focuses on loan portfolio purchases and has reached internal rates of return (IRR) above 15% since inception. The Fund funds government-related loans through its subsidiary CIAC LLC, or Caribbean Investment Acquisition Corp. Learn more about Francisco J. De Armas.