News & Events

The Firm is representing PJT Partners LP as financial advisor to the special committee of the board of directors of Sculptor Capital Management, Inc. (NYSE: SCU) in connection with its agreement to be acquired by Rithm Capital Corp. (NYSE: RITM) in a transaction valued at approximately $639 million. Under the terms of the agreement, Sculptor Class A stockholders will receive $11.15 in cash per share, with Sculptor operating partnership unitholders receiving the applicable amount of cash consideration in accordance with the Sculptor partnership agreements based on such per share price. The parties expect that, subject to the satisfaction of certain conditions, holders of certain Sculptor operating partnership units will be given the opportunity, in lieu of receiving cash consideration, to roll their units into partnership units of one or more Rithm subsidiaries. The transaction is expected to close in the fourth quarter of 2023, subject to customary closing conditions, including approvals by Sculptor’s shareholders, certain regulatory approvals, and the receipt of certain consents.

Sculptor is a global alternative asset manager and a specialist in opportunistic investing. With offices in New York, London and Hong Kong, Sculptor invests across credit, real estate and multi-strategy platforms in all major geographies. As of July 1, 2023, Sculptor had approximately $34.2 billion in assets under management. Rithm is an asset manager focused on the real estate and financial services industries. Rithm is a real estate investment trust (REIT) and is headquartered in New York City.

The Simpson Thacher team includes Jakob Rendtorff and Chan Ho Park (M&A).