Rithm Capital to acquire Crestline for $17bn.

Rithm Capital, a private equity firm, agreed to acquire Crestline, an alternative asset management firm, for $17bn. “This transaction demonstrates the power of our differentiated asset management platform and our commitment to diversifying our investment strategies. Crestline adds meaningful new credit and alternative investment capabilities, establishes our entrance into insurance and reinsurance, and creates additional value-creating opportunities for our investors and shareholders. We are excited to leverage our expanded product suite and like-minded cultures focused on entrepreneurship, innovation, and investment excellence as we seek to capitalize on the substantial opportunities ahead,” Michael Nierenberg, Rithm Capital CEO.