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Rithm Capital Corp. Announces its International Expansion into Europe and Hiring of Marty Migliara to Lead Rithm Europe
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NEW YORK--(BUSINESS WIRE)--
Rithm Capital Corp. (NYSE:RITM, “Rithm Capital” or the “Company”), a New York-based asset manager focused on real estate and financial services companies and assets, announced today that it will be expanding its business into Europe (“Rithm Europe“) and opening a new office in London, England. Rithm Europe will be led by recently hired Marty Migliara, the former long-standing head of EMEA origination and lending in Bank of America’s global mortgages and securitized products team. Rithm Europe will seek equity and debt investments across the real estate and consumer finance sectors in the region, sourcing opportunities for both private funds and Rithm Capital’s ~$32 billion balance sheet.
“We are very excited to be expanding our business into the European markets,” said Michael Nierenberg, President and CEO of Rithm Capital. “The ongoing dislocations in the markets should enable us to generate attractive risk-adjusted returns for LPs and shareholders. I am very excited to have Marty leading our team in Europe. Marty brings with him over 30 years of experience in asset-backed securities, consumer lending platforms, and residential and commercial real estate, of which 22 years have been in Europe.”
“I am thrilled to be joining Rithm and their experienced team of professionals,” said Marty Migliara. “The timing could not be better, given the interest rate environment and the tightening of credit conditions in Europe. We will have great opportunities to provide growth capital to strong origination platforms and opportunistic capital to facilitate the upcoming refinancing needs across commercial real estate in the region.”
The opening of the new office in London highlights Rithm Capital’s conviction in opportunities across Europe and its plan to build on its success in the United States to expand in the European market.
ABOUT RITHM CAPITAL
Rithm Capital is an asset manager focused on the real estate and financial services industries. Rithm Capital’s investments in operating entities include leading origination and servicing platforms held through its wholly-owned subsidiaries, Newrez LLC, Caliber Home Loans Inc., and Genesis Capital LLC, as well as investments in affiliated businesses that provide residential and commercial real estate related services. The Company seeks to provide attractive risk-adjusted returns across interest rate environments. Since inception in 2013, Rithm Capital has delivered approximately $4.4 billion in dividends to shareholders. Rithm Capital is organized and conducts its operations to qualify as a real estate investment trust (REIT) for federal income tax purposes and is headquartered in New York City.
new residential investment corp. (nyse: nrz) is a real estate investment trust that focuses on opportunistically investing in, and actively managing, investments primarily related to residential real estate. we target investments in: (1) excess mortgage servicing rights (“excess msrs”), (2) residential mortgage backed securities (“rmbs”), (3) residential mortgage loans and (4) other opportunistic investments. we believe that unfolding developments in the approximately $19 trillion u.s. residential housing market are generating significant investment opportunities. for example, in the aftermath of the u.s. financial crisis, the residential mortgage industry is undergoing major structural changes that are transforming the way mortgages are originated, owned and serviced. these changes are creating a compelling set of investment opportunities. we believe that new residential is one of only a select number of market participants that have the combination of capital, industry experience and
