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Rithm Capital Acquires $1.4B Loan Portfolio from Goldman Sachs
Rithm Capital Corp., an asset manager focused on the real estate and financial services industry, has purchased $1.4 billion of prime unsecured consumer loans from Goldman Sachs. Terms of the acquisition weren’t disclosed. The portfolio was originated and serviced by Goldman Sachs through the Marcus program.
The pool is comprised of 100% fixed-rate closed-end installment loans in which ~95% of the pool was originated between the fourth quarter of 2021 and Q4 2022. Acquiring these consumer loans allows for an opportunity for Rithm Capital to add discounted, short duration and high yielding prime credit consumer assets.
“This purchase is extremely attractive to us building off our past and current expertise in consumer finance,” said Michael Nierenberg, chairman, CEO and president of Rithm Capital, formerly New Residential Investment Corp “Consistent with our investment approach, we continue to look for opportunities to grow shareholder value and believe this transaction will be an excellent addition.”
Pictured: Rithm Capital headquarters in Lower Manhattan.
- ◦Sale/Acquisition
