Rithm Capital Corp. Celebrates 10 Year Anniversary as a Publicly Traded Company
May 16 2023 - 4:15PM
Business Wire
Rithm Capital Corp. (NYSE: RITM, “Rithm Capital” or the
“Company”), an asset manager focused on the real estate and
financial services industries, announced today its celebration of
10 years as a publicly traded company.
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the full release here:
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“This week we commemorate a decade of success at Rithm and
celebrate all those who have helped transform the Company into what
it is today,” said Michael Nierenberg, Chairman, Chief Executive
Officer and President of Rithm Capital. “Looking back on the last
ten years, I am proud of our evolution as a leader in the financial
services sector, expanding our investment platform to include
residential real estate, commercial real estate, consumer assets,
and more. We are extremely grateful for the ongoing support from
all our investors, partners and employees—all of which have
uniquely contributed to the Company’s success. I look forward to
seeing what the future holds for Rithm and believe the best is yet
to come.”
Rithm Capital (formerly known as New Residential Investment
Corp.) was launched in May 2013 primarily to capitalize on an
opportunity in excess mortgage servicing rights present in the
financial services sector at the time. Over the years, Rithm has
evolved materially, investing across multiple assets classes and
acquiring various operating companies to support asset creation and
servicing. Rithm has grown its business significantly over the last
10 years—with total equity growing from ~$1 billion in 2013 to ~$7
billion today and total assets growing from ~$3 billion to ~$32
billion over the same period. The Company has paid ~$4.6 billion in
dividends to date.
In June of 2022, Rithm internalized management from its former
external manager, an affiliate of Fortress Investment Group,
launching its next phase of growth. In conjunction with the
internalization, the Company rebranded to Rithm Capital and has
since launched its private capital business, which is expected to
drive its next era of success.
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 $4.6 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.
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Investor Relations 212-850-7770 IR@RithmCap.com
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