Rithm Capital Corp., an asset manager specializing in the real estate and financial services industry, has acquired a $1.4 billion portfolio of prime unsecured consumer loans from Goldman Sachs. No terms were disclosed regarding the acquisition. The loan pool was originated and serviced by Goldman Sachs through its Marcus program, with 100% fixed-rate closed-end installment loans comprising ~95% of it that were issued between Q4 2021 and Q4 2022.
This purchase provides Rithm Capital with an opportunity to add discounted short duration high yielding prime credit consumer assets to their portfolio while growing shareholder value as per their investment approach – according to Michael Nierenberg, chairman, CEO & president of Rithm Capital (formerly New Residential Investment Corp). Located in Lower Manhattan is the headquarters for this asset management firm which continues to seek out lucrative opportunities for investors alike.
