Company: RITM-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001556593-25-000033
Chunk: 340

Company: Rithm Capital Corp.
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 8
Chunk 340
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 and 11.8% used to estimate the fair value of the investment as of September 30, 2025 and December 31, 2024, respectively, were significant unobservable inputs, this investment was classified as Level 3 in the fair value hierarchy. Consolidated CFE - FundsSculptor’s consolidated structured alternative investment solution, a CFE, holds investments in funds measured at fair value using the NAV per share of the underlying funds, as a practical expedient.The following table summarizes the fair value of the investments by fund type and ability to redeem such investments:September 30, 2025December 31, 2024Fund Type(A)Fair ValueRedemption FrequencyRedemption Notice PeriodFair ValueRedemption FrequencyRedemption Notice PeriodOpen-ended$198,226 Monthly – Annually30 days – 90 days$172,409 Monthly - Annually30 days - 90 daysClosed-ended149,924 None(B)N/A160,697 None(B)N/ATotal$348,150 $333,106 (A)The structured alternative investment solution invests in both open-ended and closed-ended funds. The investments in each fund may represent investments in a particular tranche of such fund subject to different withdrawal rights.(B)100% of these investments cannot be redeemed, as distributions will be received as the underlying assets are liquidated, which is expected to be approximately 7 to 9 years from inception.As of September 30, 2025 and December 31, 2024, the structured alternative investment solution had unfunded commitments of $38.5 million and $23.8 million, respectively, related to the closed-ended funds presented in the table above, which will be funded by capital within the consolidated funds from its underlying open-ended funds and liquid assets.As of September 30, 2025 and December 31, 2024, notes payable of the structured alternative investment solution with a fair value of $226.6 million and $224.1 million, respectively, were valued using independent pricing services and are classified as Level 3. The Company measures the financial liabilities of its consolidated structured alternative investment solution based on the fair value of the financial assets of the consolidated entity under the CFE election, as the Company believes the fair value of the financial assets is more observable. The notes payable of consolidated CLOs had a fair value of $731.6 million and $735.9 million as of September 30, 2025 and December