Ropes & Gray represented Sculptor in its proposed acquisition by Rithm Capital, an asset manager focused on the real estate and financial services industries. Sculptor and Rithm announced an amendment to their previously agreed merger agreement that provides for Sculptor’s Class A shareholders to receive $12 per share, a 7.62% increase over the previously agreed price of $11.15 per Class A share. The amended transaction, valued at approximately $676 million, was announced in an Oct. 12 press release.

Sculptor is a leading global alternative asset manager and a specialist in opportunistic investing with offices in New York, London and Hong Kong. It has approximately $33.6 billion in assets under management.

The Ropes & Gray team was led by M&A and capital markets partner Craig Marcus and litigation & enforcement partner David Hennes.