Germany-based North Channel Bank GmbH & Co. KG acquired NorthStar Life Services LLC, a leading provider in the US life settlement market. The acquisition of the bank would take effect immediately. NorthStar Life Services is headquartered in Irvine, California and provides due dilligence and servicing as well as portfolio advisory services to institutional investors globally.
North Channel Bank said that its acquisition of NorthStar would have significant effects in strengthening its position in the life settlement market. Its acquisition of NorthStar would also add broader life settlement services to its existing financing solutions.
NorthStar would remain in its Irvine, CA headquarters under the same management and team. According to the company's CEO Ward Bukofsky, the company is enthusiastic about the acquisition. It would purportedly provide NorthStar more resources and enhanced presence in the industry, he added. Furthermore, he also said that the acquisition would result to faster growth for the company while providing quality services to its clients.
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