Rithm Capital Corp. (NYSE: RITM), a New York City-based asset manager focused on the real estate and financial services industries, announced it is acquiring Sculptor Capital Management Inc. (NYSE: SCU), a global alternative asset manager with $34 billion in assets under management, for approximately $639 million.
Under the terms of the transaction, Sculptor Class A shareholders will receive cash consideration equal to $11.15 per share. Sculptor will operate as a subsidiary of Rithm and will continue to be led by Chief Investment Officer and Executive Managing Partner Jimmy Levin.
“This transaction is transformational for Rithm,” said Michael Nierenberg, CEO, chairman and president of Rithm Capital. “Sculptor’s $34 billion of AUM coupled with Rithm’s $7 billion of permanent equity capital and $30-plus billion balance sheet creates a world-class asset management business. We are very excited to bring together two organizations with strong track records, excellent management teams, and seasoned investment professionals. Sculptor has a tremendous global investment platform and we believe the combination of both our businesses will continue to deliver great long-term value for shareholders and fund investors alike.”
Rithm Capital’s investments in operating entities include the origination and servicing platforms held through its wholly-owned subsidiaries Newrez LLC, Caliber Home Loans Inc. and Genesis Capital LLC, as well as investments in affiliated businesses that provide residential and commercial real estate related services.
