Crestline’s Next Phase
Crestline CEO Doug Bratton said his firm saw Rithm as the ideal partner to provide “the platform, resources and entrepreneurial spirit to accelerate our next phase of growth.”
The deal follows Rithm’s $720 million acquisition of Sculptor Capital Management, finalized in November 2023 after Sculptor settled a shareholder class action. That purchase gave Rithm another lever in the competitive asset management arena, but the Crestline buy pushes the company into new strategic territory.
The Dealmakers
Rithm’s legal team includes Peter Serating, Blair Thetford, Heather Cruz, Nickolas Gianou, and Joseph Penko of Skadden Arps Slate Meagher & Flom LLP. Crestline tapped Akin Gump Strauss Hauer & Feld LLP, Vinson & Elkins LLP, and Paul Hastings LLP for counsel.
