“Rithm had one of its best quarters ever,” said Michael Nierenberg, Chairman, CEO and President of Rithm Capital. “We had near record earnings, grew book value, acquired $1.4 billion of consumer loans and grew our SFR business with the acquisition of 371 units. Subsequent to quarter end, we announced the acquisition of Sculptor Capital Management. This acquisition helps accelerate our growth in the alternative asset management space, as Sculptor’s $34 billion of AUM complements Rithm’s $7B of permanent equity capital and $30+ billion balance sheet. With the introduction of new capital rules being instituted on banks and the highest level of rates seen in 20+ years, the investing environment has not been this good in years.”
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Read More on RITM:
- Sculptor Capital (NYSE:SCU) Soars on Acquisition by Rithm Capital (NYSE:RITM)
- Rithm Capital to acquire Sculptor Capital for $639M
- Rithm Capital price target raised to $10.50 from $10.00 at JMP Securities
- Rithm Capital acquires $1.4B of Marcus loans from Goldman Sachs
- Rithm Capital acquires $1.4B of consumer loans from Goldman, Bloomberg reports
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