"Crestline adds $17 billion in assets under management and extends Rithm's capabilities into direct lending, fund liquidity solutions, insurance and reinsurance. Our teams have already begun working together to identify opportunities to integrate our capabilities and support the expansion of Rithm's broader platform, Doug Bratton, founding partner and CEO of Crestline, said in a statement. Keith Williams, managing partner and chief investment officer, added that the firm is expanding our reach, enhancing our capabilities, and unlocking new avenues for differentiated alpha."
"Rithm was advised by J.P. Morgan Securities LLC, while Piper Sandler & Co. advised Crestline. The acquisition builds on Rithm's recent M&A deals, including its $720 million purchase of Sculptor Capital Management. With Sculptor and Crestline now onboard, Rithm has grown to 200 investment professionals managing $47 billion of on-balance-sheet assets and $55 billion in assets under management across asset-based finance, real estate, and structured and corporate credit strategies."
Crestline's addition of $17 billion in assets under management extends Rithm's capabilities into direct lending, fund liquidity solutions, and insurance and reinsurance. Crestline and Rithm teams have begun integrating capabilities to support Rithm's platform expansion. Rithm was advised by J.P. Morgan Securities LLC and Crestline by Piper Sandler & Co. The deal follows prior M&A including a $720 million acquisition of Sculptor Capital Management. With Sculptor and Crestline, Rithm has 200 investment professionals managing $47 billion of on-balance-sheet assets and $55 billion in assets under management across asset-based finance, real estate, and structured and corporate credit. Rithm also pursued consumer and mortgage transactions including $1.4 billion in consumer loans from Goldman Sachs and multiple mortgage-related acquisitions and partnerships.
Read at www.housingwire.com
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