Sehgal said the company has been “more selective” in buying portfolios, with purchase price multiples (a proxy for gross portfolio yields) trending higher:Executive Vice President and CFO Rakesh Sehgal said PRA purchased $315 million of portfolios in the fourth quarter, including $112 million in the U.S., $157 million in Europe, and $45 million in other markets.Adjusted cash efficiency improved to 61% from 59% a year earlier, Sjöslund said, even as PRA invested $125 million in the U.S. legal collections cha ...