Rithm Capital Corp. (RITM) has agreed to acquire Crestline Management, an alternative investment manager with $17 billion in assets under management.
The deal advances Rithm's strategy to build a global, diversified platform, adding capabilities in direct lending, fund liquidity, insurance, and reinsurance to its existing strengths in asset-based finance, real estate, credit, and infrastructure.
With Crestline and Sculptor, Rithm's platform will comprise $98 billion in investable assets, supported by over 200 investment professionals. Crestline, founded in 1997, has tripled its AUM since 2018 and offers private credit and alternative strategies across multiple markets. Its team, strategies, and offices in Fort Worth, New York, Toronto, Tokyo, and London will remain unchanged post-closing.
Rithm CEO Michael Nierenberg said the acquisition enhances Rithm's credit and alternative capabilities, marks its entry into insurance and reinsurance, and creates new opportunities for investors and shareholders. Crestline leaders Doug Bratton and Keith Williams highlighted shared values with Rithm, noting the partnership positions their platform for long-term growth and strengthens client offerings.
The transaction is expected to close in the fourth quarter of 2025, subject to regulatory approvals and conditions.
RITM currently trades at $12.45 or 0.81% higher on the NYSE.
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