Sculptor Launches Latest Fund to Buy Riskiest CLO Slices [BNN Bloomberg (Canada)]
Rithm Capital Corp. (RITM)
Company Research
Source: BNN Bloomberg
loan obligations, which will count its new owner Rithm Capital Corp. as a key investor. The venture, dubbed Sculptor Loan Financing Partners, will manage investments in the equity tranches of Sculptor's own CLOs in the US and Europe, which package leveraged loans into securities of varying risk and size. It will be part of the firm's institutional credit strategies business, which oversees about $15 billion in assets under management, according to a statement seen by Bloomberg. Sculptor is following other firms that have pursued similar strategies over the past 18 months, setting up funds to allow them to retain the equity portions of the CLOs they manage as it got harder to sell the bonds to third parties. Alternative investment platform Sagard is fundraising a CLO equity fund, for which it already had secured anchors, while CLO manager Irradiant Partners LP raised more than $400 million last year to invest in the securities. “The new platform allows us to be nimble in accessin
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RITM
News
- Rithm Capital Corp. (NYSE: RITM) had its price target raised by analysts at Keefe, Bruyette & Woods from $12.00 to $12.50. They now have an "outperform" rating on the stock.MarketBeat
- Rithm Capital Corp. Completes Acquisition of Computershare Mortgage Services Inc., Expanding Newrez LLC's Servicing Portfolio and Subservicing Platform [Yahoo! Finance]Yahoo! Finance
- Rithm Capital Corp. Completes Acquisition of Computershare Mortgage Services Inc., Expanding Newrez LLC’s Servicing Portfolio and Subservicing PlatformBusiness Wire
- Rithm Capital Corp. (NYSE:RITM) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Compared to Estimates, Rithm (RITM) Q1 Earnings: A Look at Key Metrics [Yahoo! Finance]Yahoo! Finance
RITM
Earnings
- 4/30/24 - Beat
RITM
Sec Filings
- 5/3/24 - Form 10-Q
- 5/1/24 - Form 8-K
- 4/30/24 - Form 4
- RITM's page on the SEC website