NEW YORK, Jan. 11, 2016 /PRNewswire/ -- The Board of Directors (the "Board") of NorthStar Asset Management Group Inc. (NYSE: NSAM) announced today that it has engaged Goldman, Sachs & Co. as its financial advisor to assist NorthStar Asset Management in exploring possible strategic alternatives to maximize shareholder value.
David T. Hamamoto, Executive Chairman commented, "We believe our current share price undervalues the Company. Our Board of Directors and management have always been committed to acting in the best interests of our shareholders and we are aggressively seeking ways to maximize shareholder value."
There is no assurance that this exploration will result in any transaction being announced or consummated. NorthStar Asset Management does not intend to discuss or disclose further developments during this process unless and until the Board has approved a specific action or otherwise determined that further disclosure is appropriate.
About NorthStar Asset Management Group
NorthStar Asset Management Group Inc. (NYSE: NSAM) is a global asset management firm focused on strategically managing real estate and other investment platforms in the United States and internationally. For more information about NorthStar Asset Management Group Inc., please visit www.nsamgroup.com.
Forward Looking Statements
This release contains certain forward-looking statements. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements and you should not place undue reliance on any such statements. A number of important factors could cause actual results to differ materially from the forward-looking statements contained in this release. Such factors include those described in the Risk Factors sections of NorthStar Asset Management Group Inc.'s annual report on Form 10-K and other reports filed with the Securities and Exchange Commission. Forward-looking statements in this document speak only as of the date on which such statements were made, and the company undertakes no obligation to update any such statements that may become untrue because of subsequent events. Such forward-looking statements are subject to the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
THIS PRESS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY SECURITIES.
SOURCE NorthStar Asset Management Group Inc.