Rithm Capital acquires $1.4B of Marcus loans from Goldman Sachs

Rithm Capital Corp. (RITM) announced the purchase of $1.4B of prime unsecured consumer loans from The Goldman Sachs Group (GS). The portfolio was originated and serviced by Goldman Sachs through the Marcus program. The pool represents a portion of the broader Marcus portfolio that was previously owned and held on balance sheet by Goldman Sachs. The pool is comprised of 100% fixed-rate closed-end installment loans in which ~95% of the pool was originated between 2021 Q4 and 2022 Q4 from the post-COVID demand boost. Acquiring these consumer loans allows for an opportunity for Rithm Capital to add discounted, short duration and high yielding prime credit consumer assets. “This purchase is extremely attractive to us building off our past and current expertise in consumer finance,” said Michael Nierenberg, Chairman, Chief Executive Officer and President of Rithm Capital. “Consistent with our investment approach, we continue to look for opportunities to grow shareholder value and believe this transaction will be an excellent addition.”