Rithm Capital Corp.parent company of Meerkanaals money lender Newrezhas closed a deal to acquire alternative investment manager Crestline ManagementA movement that adds $ 17 billion in assets to control and extends its reach to direct loans, fund liquidity solutions, insurance and reinsurance.
The acquisition, announced on Thursday, follows the winning call from Rithm, when RithM managers marked potential possibilities in the field of mergers and acquisitions in these areas after shelf plans for a first public offer from Newrez.
“Crestline adds a meaningful new credit and alternative investment options, determines our access to insurance and reinsurance and creates extra opportunities for creating value for our investors and shareholders,” said Michael Nierenberg, CEO of Rithm, in a statement.
The companies expect that the transaction will be closed in the fourth quarter of 2025, depending on the usual approvals and closing conditions.
Rithm has been active on the central front and acquires $ 1.4 billion in consumer loans from Goldman Sachscompleting a purchase of $ 720 million from Sculptor Capital Managementand close a deal for Computershare Mortgage Services and his subsidiary, Specialized loan maintenance. It also worked with Upgrade At $ 1 billion in loans in home improvement and with an institutional investor on a potential $ 1.5 billion in transitional loans for homes.
Crestline and sculptor bring together $ 98 billion in barking assets – $ 45 billion on the balance sheet and $ 53 billion of customers – and a combined team of 200 investment professionals.
Crestline was founded in 1997 and has been tripling its assets, the management of investments for his insurance and reinsurance company and other customers since 2018. The structure and strategies will remain unchanged, with offices in Fort Worth, New York, Toronto, Tokyo and London.
Rithm was advised by JP Morgan Securities LLCwhile Piper Sandler & Co. advised Crestline.
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