Jackson Walker is advising Fort Worth-based Crestline Management in connection with its entry into a definitive agreement to sell to Rithm Capital Corp. (NYSE: RITM), a global alternative asset manager. The transaction is expected to close during the fourth quarter of 2025, subject to customary closing conditions and regulatory approvals.

Crestline is an alternative investment management firm founded in 1997 based in Fort Worth, Texas, with affiliate offices in London, New York, Toronto, and Tokyo. The firm has approximately $17 billion in assets under management and is a fully integrated platform offering private credit and alternative investment strategies across direct lending, opportunistic credit, and fund liquidity solutions. It also manages investment strategies on behalf of its wholly owned insurance company and affiliated reinsurer. Crestline strategies are delivered through commingled funds, managed accounts and a business development company.

Jackson Walker is advising Crestline on the M&A transaction and is working seamlessly with specialists at Akin on fund regulatory matters, Vinson & Elkins on tax and employee benefits and executive compensation matters, and Paul Hastings LLP on insurance regulatory matters, as well as other specialist firms in the UK, Canada, and Cayman. The Jackson Walker team is being led by corporate partner Alex Frutos and includes Corporate & Securities attorneys Byron Egan, Janie James, Mark McMullen, Ryan Holm, Sami Landon, Chris Rogers, and Antonio Partida, Labor & Employment partners David Schlottman and Alicia Duleba, Antitrust partners Ann Leafstedt and Shari Mao, and Intellectual Property partner Raman Dewan.

For more information, view the press release.