MAINZ, Germany--(BUSINESS WIRE)--With immediate effect, North Channel Bank GmbH & Co. KG, located in Mainz, Germany, has acquired NorthStar Life Services LLC, headquartered in Irvine, CA, USA.
NorthStar Life Services LLC is a leading servicer in the U.S. life settlement market, providing portfolio advisory, servicing and due diligence services to institutional investors worldwide.
The Bank believes the acquisition of NorthStar will significantly strengthen its position as a specialist financier in the life settlement market segment. In addition to its existing financing solutions, North Channel Bank, together with NorthStar, can now offer a broader array of life settlement services to its customers.
North Channel’s Managing Director, Volker Bellmann, states: “We have worked with NorthStar for almost three years and are thrilled to formalize our relationship with the premier service provider in this asset class. We are confident that this development will provide synergistic opportunities for both companies, while enhancing the range of services available to customers.”
NorthStar will continue to operate in Irvine, CA, with essentially the same management and operations team. NorthStar’s CEO, Ward Bukofsky, comments: “We are extremely enthusiastic about the acquisition by North Channel Bank. This provides NorthStar with the depth of resources and enhanced institutional presence that will enable us to grow even faster while continuing to provide the superior quality services that our clients expect.”
