Shares Of NorthStar Asset Management Surge, Company Exploring Strategic Alternative

Shares of NorthStar Asset Management Group Inc NSAM, an asset management company that focuses on real estate and other investment platforms, surged higher by more than 14 percent on Monday. NorthStar Asset Management's Board of Directors announced earlier in the day that it is hired bankers to help explore strategic alternatives that can 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." Shares of NorthStar Asset Management have lost nearly 45 percent over the past year.