Rithm Capital's affiliated SPAC has filed with the SEC to raise $200 million, targeting acquisitions primarily in financial services and real estate sectors. The management team brings substantial experience in these areas. Additionally, the SPAC will explore digital infrastructure opportunities, particularly where technology and infrastructure converge. Rithm has a record of recent acquisitions, including a $70 million purchase of Great Ajax, and has restructured its mortgage operations amid a downturn in the mortgage market. Industry analysts speculate on the potential of this SPAC as a vehicle for expansion rather than a route to take their mortgage lender, NewRez, public.
The broad intention of raising $200 million through this SPAC is to focus on financial services and real estate sectors, leveraging Rithm's management expertise.
Rithm Capital aims to evaluate opportunities in digital infrastructure and the intersection of infrastructure and technology, showcasing a diversified investment strategy.
Analyst Bose George suggested that while there is speculation about taking NewRez public, this SPAC may serve better to expand RITM’s asset management capabilities.
Recent acquisitions and restructuring efforts within Rithm, as seen in Newrez and other divisions, reflect strategic shifts in response to evolving market conditions.
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