Rithm Capital has completed its acquisition of Crestline Management, marking a significant step in the firm’s plan to expand its global alternative asset management capabilities. The deal strengthens Rithm’s ambition to build an integrated and diversified platform that serves both institutional and private wealth investors with a broader suite of investment strategies.
With the addition of Crestline and the previously acquired Sculptor, Rithm now has more than 200 investment professionals managing approximately $102 billion in investable assets. This includes $47 billion of on-balance-sheet assets and $55 billion in assets under management. The firm’s combined offerings now cover asset-based finance, real estate, structured and corporate credit, fund liquidity solutions, insurance and reinsurance strategies, and other specialized investment areas. The company emphasized that Crestline’s established investment track record and seasoned leadership team will enhance the depth and scale of Rithm’s platform.
Rithm noted that the acquisition will further its ability to capitalize on shifting market conditions while continuing to pursue strong performance for clients and shareholders. Crestline’s leadership highlighted the shared alignment between the organizations, pointing to opportunities to integrate investment capabilities, expand distribution, and generate value across the broader platform.
Advisors on the transaction included J.P. Morgan Securities LLC as exclusive financial advisor to Rithm, with Skadden, Arps, Slate, Meagher & Flom LLP serving as its legal counsel. Crestline was advised by Piper Sandler & Co., with Jackson Walker LLP as lead legal counsel and additional support from Akin, Vinson & Elkins, and Paul Hastings LLP.
Rithm described itself as a global alternative asset manager operating a differentiated owner-operator model across credit, real estate, and structured finance. Through subsidiaries including Newrez, Genesis Capital, and Sculptor Capital Management, the firm continues to expand its sourcing, financing, and active management capabilities.
KEY QUOTES:
“The completion of this transaction is a significant milestone in Rithm’s evolution and demonstrates our commitment to building a world-class investment platform. Crestline’s strong investment track record, exceptional management team, and diverse offerings further solidify Rithm as a differentiated global asset management business and enable us to capitalize on this dynamic market environment. Looking ahead, we expect to continue to deliver excellent performance and enhanced opportunities for our clients and shareholders.”
Michael Nierenberg, Chief Executive Officer of Rithm Capital
“We are thrilled to join Rithm, a world-class asset management platform with a sophisticated institutional client base, and a collaborative culture. Our teams have already begun working together to identify opportunities to integrate our capabilities and support the expansion of Rithm’s broader platform. We are aligned in our commitment to investment excellence and client partnership, and we look forward to contributing to the continued success of the Rithm platform.”
Doug Bratton, Founding Partner and Chief Executive Officer of Crestline
“We appreciate the overwhelming support from our clients for this transaction. By joining forces with Rithm, we are creating powerful opportunities for growth—expanding our reach, enhancing our capabilities, and unlocking new avenues for differentiated alpha.”
Keith Williams, Managing Partner and Chief Investment Officer of Crestline
