Rithm Capital Corp., parent company of multichannel lender Newrez, has struck a deal to acquire alternative investment manager Crestline Management, a move that adds $17 billion in assets under management and expands its reach into direct lending, fund liquidity solutions, insurance and reinsurance.  

The acquisition, announced on Thursday, follows Rithm’s second-quarter earnings call, when Rithm executives flagged potential M&A opportunities in these areas after shelving plans for an initial public offering of Newrez.

“Crestline adds meaningful new credit and alternative investment capabilities, establishes our entrance into insurance and reinsurance, and creates additional value-creating opportunities for our investors and shareholders,” details ⇒

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