Latham & Watkins Acted on the Successful Acquisition of Sculptor Capital Management by Rithm Capital Corp.

Latham & Watkins Acted on the Successful Acquisition of Sculptor Capital Management by Rithm Capital Corp.

Latham & Watkins LLP has announced that it served as the legal counsel to the Special Committee of the Board of Directors of Sculptor Capital Management Inc. (Sculptor) in connection with its previously announced acquisition by Rithm Capital Corp. (Rithm). The transaction, valued at approximately $719.8 million, was completed on November 17, 2023, with each Class A share of Sculptor being acquired for $12.70.

With the completion of the transaction, Sculptor’s common stock will cease trading on the New York Stock Exchange and will be delisted.

The corporate deal team at Latham & Watkins, spearheaded by New York partners Alex Kelly, Leah Sauter, and Peter Harwich, included the expertise of associates Kyle Adams, Josh Barkow, and Shanta Chirravuri. The litigation team, led by New York partners James Brandt and Blair Connelly, San Diego partner Colleen Smith, and New York counsels Thomas Giblin and Zachary Rowen, featured the contributions of associates Abhinaya Swaminathan, Melange Gavin, Tyler Halloran, Ryan Jones, and Zijun Zhao.

Rithm's acquisition of Sculptor establishes a prominent global alternative asset manager with a robust portfolio totalling around $55 billion in assets under management. The merged entity is poised to wield substantial influence in both the real estate and financial services sectors.