Rithm Capital (RITM) closes acquisition of Crestline Management, L.P. to expand platform

Rhea-AI Filing Summary

Rithm Capital Corp. announced that it has completed its previously announced acquisition of Crestline Management, L.P. The deal’s closing was disclosed in a press release dated December 1, 2025, which Rithm furnished to the market. Crestline is an investment management firm, so bringing it under Rithm’s umbrella is intended to expand Rithm’s asset management platform and diversify its business mix beyond traditional mortgage and real estate-related activities.

The announcement does not include financial terms or performance targets for the combination, but it confirms that the transaction is now finished rather than just planned. Investors can look to the accompanying press release for more detail on how Crestline will be integrated into Rithm’s operations and strategy.

Insights

Real estate and asset management analyst

Rithm closes the Crestline acquisition, expanding its asset management footprint.

Rithm Capital Corp. reports that it has successfully completed its previously announced acquisition of Crestline Management, L.P. This moves the transaction from intent to reality and adds an established investment manager to Rithm’s platform. Strategically, this can broaden revenue sources beyond mortgage and real estate exposure, aligning with Rithm’s ongoing push to be a more diversified alternative asset manager.

The impact will depend on Crestline’s assets under management, fee structure, and integration into Rithm’s existing businesses, which are not detailed here. Key variables include retention of Crestline’s investment team and clients and how Rithm positions Crestline-branded strategies within its broader product lineup. Future company communications and financial reports after December 1, 2025 will show how much fee income and earnings contribution Crestline provides.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 1, 2025

Rithm Capital Corp.

(Exact name of registrant as specified in its charter)

	Delaware
	(State or other jurisdiction of incorporation)
001-35777		45-3449660
(Commission File Number)		(IRS Employer Identification No.)

799 Broadway New York, New York		10003
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code (212) 850-7770

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class:	Trading Symbol:	Name of each exchange on which registered:
Common Stock, $0.01 par value per share	RITM	New York Stock Exchange
7.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock	RITM PR A	New York Stock Exchange
7.125% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock	RITM PR B	New York Stock Exchange
6.375% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock	RITM PR C	New York Stock Exchange
7.00% Fixed-Rate Reset Series D Cumulative Redeemable Preferred Stock	RITM PR D	New York Stock Exchange
8.750% Series E Fixed-Rate Cumulative Redeemable Preferred Stock	RITM PR E	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

Item 7.01 Regulation FD Disclosure

On December 1, 2025, Rithm Capital Corp. (“Rithm”) issued a press release announcing the successful completion of its previously announced acquisition of Crestline Management, L.P. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and the information contained therein is incorporated by reference into this Item 7.01.

The information contained in the press release is being furnished, not filed, pursuant to this Item 7.01. Accordingly, such information will not be incorporated by reference into any filing filed by Rithm under the Securities Act of 1933 or the Securities Exchange Act of 1934, unless specifically identified therein as being incorporated by reference therein. The furnishing of the information in this Current Report on Form 8-K with respect to the press release is not intended to, and does not, constitute a determination or admission by Rithm that such information is material or complete, or that investors should consider this information before making an investment decision with respect to any security of Rithm.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number	Description
99.1	Press Release, dated as of December 1, 2025.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

RITHM CAPITAL CORP.

(Registrant)

By:/s/ Nicola Santoro, Jr.

Name: Nicola Santoro, Jr.

Title: Chief Financial Officer and Chief Accounting Officer

Dated: December 1, 2025

FAQ

What did Rithm Capital Corp. (RITM) announce on December 1, 2025?

Rithm Capital Corp. announced that it successfully completed its previously announced acquisition of Crestline Management, L.P., as described in a press release dated December 1, 2025.

Who did Rithm Capital Corp. (RITM) acquire in this transaction?

Rithm Capital Corp. acquired Crestline Management, L.P., an investment management firm that will become part of Rithm’s broader asset management platform.

Is the Crestline acquisition by Rithm Capital already completed or still pending?

The acquisition is completed. Rithm Capital stated that it has successfully closed the previously announced acquisition of Crestline Management, L.P.

Did Rithm Capital disclose financial terms for the Crestline Management acquisition?

The disclosure confirms that the acquisition of Crestline Management, L.P. has closed but does not include specific financial terms or consideration amounts.

How did Rithm Capital communicate the closing of the Crestline acquisition?

Rithm Capital communicated the closing through a press release dated December 1, 2025, which was furnished as Exhibit 99.1 and incorporated by reference into the company’s disclosure.

Who signed the disclosure related to Rithm Capital’s Crestline acquisition?

The disclosure was signed on behalf of Rithm Capital Corp. by Nicola Santoro, Jr., the company’s Chief Financial Officer and Chief Accounting Officer.