Company: RITM-PC
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001556593-25-000007
Chunk: 182

Company: Rithm Capital Corp.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 7
Chunk 182
---
 segment, at fair value on the consolidated balance sheets as of and for the year ended December 31, 2024 (dollars in thousands):

Loans originated(A)$3,646,982 Loans repaid$1,393,658 Number of loans originated1,476 UPB$2,172,713 Total commitment$3,178,054 Average total commitment$3,868 Weighted average contractual interest(B)10.0 %

(A)Based on commitment.

(B)Excludes loan fees and based on commitment at funding.

87

The following table summarizes the loan purpose of our portfolio of loans included in the Residential Transitional Lending segment, at fair value on the consolidated balance sheets as of December 31, 2024 (dollars in thousands):

Number of Loans% of LoansTotal Commitment% of Total CommitmentWeighted Average Committed Loan Balance to Value(A)Construction298 30.8 %$1,862,182 58.6 %72.1% / 61.5%Bridge378 39.0 %992,700 31.2 %65.4%Renovation293 30.2 %323,172 10.2 %82.1% / 67.6%Total969 100.0 %$3,178,054 100.0 %N/A

(A)Weighted by commitment LTV for bridge loans and LTC and LTARV for construction and renovation loans.

See Note 10 to our consolidated financial statements for additional information, including a summary of activity related to residential transition loans from December 31, 2023 to December 31, 2024.

Asset Management

Our Asset Management business primarily operates through our wholly-owned subsidiaries, Sculptor and RCM Manager. Sculptor is a leading global alternative asset manager and a specialist in opportunistic investing. Sculptor provides asset management services and investment products across credit, real estate and multi-strategy platforms with approximately $34.0 billion in AUM as of December 31, 2024. Sculptor serves its global client base through our commingled funds, separate accounts and other alternative investment vehicles. RCM Manager externally manages Rithm Property Trust and may in the future manage additional entities.

AUM refers to the assets for which we provide investment management, advisory or certain other investment-related services. This is generally equal to the sum of (i) net asset value of the open