The
asset
manager
announced
the
agreement
on
Tuesday
but
did
not
disclose
the
name
of
the
institutional
investor.
RTLs
are
short-term
loans
designed
for
real
estate
investors
who
aim
to

fix
and
flip
or

construct
residential
properties.

Through
a
dedicated
investment
partnership,
the
parties
will
fund
the
acquisition,
with
an
initial
target
of
$500
million.

Rithm
Capital
Advisors
LLC
will
manage
the
funds,
while

Genesis
Capital
LLC—Rithm’s
subsidiary
focused
on
RTL
lending—will
service
the
loans.

Rithm
has
taken
steps
to
diversify
its
business
from
a
real
estate
investment
trust
(REIT)
into
a
global
asset
manager.
Its
operating
companies
include
origination,
underwriting
and
servicing
capabilities.

The
company
sees
opportunities
to
capitalize
“on
the
compelling
opportunities
that
exist
in
the
growing
residential
transitional
loan
sector,”
said
Michael
Nierenberg,
chairman,
president
and
CEO
of
Rithm
Capital.

According
to
Nierenberg,
this
is
an
“important
step
in
the
continued
growth
of
our
funds
business,
reinforcing
our
commitment
to
expanding
Rithm’s
asset
management
capabilities.” 

Rithm

remains
a
profitable
enterprise.
In
the
first
quarter
of
2025,
the
company
reported
$80.7
million
in
net
income,
down
from
$291.9
million
in
the

previous
quarter.

It
has
also
been
active
on
the
M&A
front.
In
2023,
it
acquired
$1.4
billion
in
consumer
loans
from

Goldman
Sachs,
completed
a

$720
million
purchase
of

Sculptor
Capital
Management
and

struck
a
deal
for

Computershare
Mortgage
Services
and
its
subsidiary,

Specialized
Loan
Servicing.