Mr. Cooper Completes Acquisition of Roosevelt Management Company and Affiliated Companies
August 01 2023 - 8:44AM
Business Wire
Mr. Cooper Group Inc. (“Mr. Cooper”) announced today that it has
completed its acquisition of the investment management firm,
Roosevelt Management Company, LLC (“Roosevelt”) and its affiliated
subsidiaries. This acquisition, which includes a registered
investment advisor and licensed MSR owner, positions Mr. Cooper to
move forward with its MSR-related asset management strategy.
Mr. Cooper’s Chairman and CEO Jay Bray commented, “We are happy
to welcome the talented Roosevelt team to Mr. Cooper, and we look
forward to leveraging their knowledge and expertise as we execute
on our asset management strategy.”
Vice Chairman and President Chris Marshall added, “We continue
to see significant volumes of MSRs trading in the marketplace with
attractive yields. Our asset management strategy is designed to
make these yields available to institutional investors, while
continuing to grow our customer base and operational scale.”
Wachtell, Lipton, Rosen & Katz acted as legal advisor to Mr.
Cooper. Mayer Brown acted as legal advisor to Roosevelt and
Houlihan Lokey acted as financial advisor to Roosevelt.
About Mr. Cooper Group
Mr. Cooper Group Inc. (NASDAQ: COOP) provides customer-centric
servicing, origination and transaction-based services related
principally to single-family residences throughout the United
States with operations under its primary brands: Mr. Cooper® and
Xome®. Mr. Cooper is one of the largest home loan servicers in the
country focused on delivering a variety of servicing and lending
products, services and technologies.
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version on businesswire.com: https://www.businesswire.com/news/home/20230801012561/en/
Media Inquiries: Christen Reyenga, VP Corporate
Communications MediaRelations@mrcooper.com
Investor Inquiries: Kenneth Posner, SVP Strategic
Planning and Investor Relations Shareholders@mrcooper.com
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