Rithm To Acquire Sculptor Capital Management For $639 Mln

(RTTNews) - Rithm Capital Corp. (RITM) on Monday announced that it would acquire Sculptor Capital Management Inc. in a transaction valued at $639 million, which includes $11.15 per Class A share of Sculptor.

The company stated that the transaction will be funded from Rithm's cash on hand and available liquidity and is expected to be accretive to Rithm shareholders in 2025.

"This transaction is transformational for Rithm. Sculptor's $34 billion of AUM coupled with Rithm's $7bn of permanent equity capital and $30+ 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," said Michael Nierenberg, Chairman, CEO, and President of Rithm Capital.

Upon completion of the transaction, which is expected to close in the fourth quarter of 2023, Sculptor will begin operating as a subsidiary of Rithm.