CBC Settlement Funding, LLC, a leading originator of secondary structured settlement transactions, announced that it was acquired by Asta Funding, Inc. (NASDAQ: ASFI) on December 31, 2013. Total transaction value, including the value of the portfolio, was in excess of $40 million. The acquisition will allow CBC Settlement Funding to support the expansion of its advertising and marketing program, as well as, provide liquidity for its passive investors. Bryant Park Capital Securities, Inc. acted as exclusive financial advisor to CBC Settlement Funding in connection with the financing.
“We appreciated all of BPC’s effort and support in our successful transaction. Their in-depth knowledge of the industry and the buyers made for a very focused and competitive transaction. We are very happy with the outcome”, said William Skyrm, President of CBC Settlement Funding.
About CBC Settlement Funding
CBC Settlement Funding is a Conshohocken, PA based purchaser of illiquid assets such as periodic structured settlement, annuity and pension payments. For more information about CBC Settlement Funding, please visit www.cbcsettlementfunding.com.
About Asta Funding
Asta Funding is a leading consumer receivable asset management company, based in Englewood Cliffs, NJ, that specializes in the purchase, management and liquidation of performing and non-performing consumer and other receivables. For more information about Asta Funding, please visit www.astafunding.com
About Bryant Park Capital
Bryant Park Capital is an investment bank providing M&A and corporate finance advisory services to emerging growth and middle market public and private companies. BPC has deep expertise in the specialty lending and financial services industries. Our professionals have completed approximately 400 assignments representing an aggregate transaction value of over $80 billion.