Latest news with #Sculptor
News.com.au
2 days ago
- Sport
- News.com.au
Goulburn previews: Portelli's horror streak of wide barriers continues
TWO-time Golden Slipper winning trainer Gary Portelli 's horror streak of wide barriers this season has followed him to Goulburn on Monday where three of his four runners were dealt the outside alley in their respective races. Portelli has saddled-up five starters in the 2025/26 season so far, the first two of those drew 7 of 7 and 6 of 6 in their assignments. Portelli's Goulburn -bound quartet with each of their barriers are Zoodoo (9 of 9), Sculptor (10 of 10), Angels Cry (14 of 14) and Greygenta who was issued 12 of 16. Zoodoo finished last in his only visit to Goulburn, on debut in January but has a more recent provincial placing to enhance his resume, followed by an excusable, distant fourth on the Canberra Acton track. 'The jockey said he didn't really appreciate that surface so he is a better chance hopefully on what will probably be a wet track, I'd imagine,'' Portelli said. 'On his run at Newcastle, he'd be competitive for sure.' Of all Portelli's Goulburn entrants, there is no contest in which is the track specialist among them. That honour goes clearly the way of Sculptor who shares his name with the 1983 Danehill Stakes and Brian Crowley Stakes winner. Portelli's 2021 model's record at Goulburn is three starts for a win and a second. 'We tried him over 1300m the other day but he just raced too fiercely and flattened out and couldn't find the line so we are back to the sprint and back to a wet track hopefully,'' Portelli said. Angels Cry ($8) meanwhile looks headed on the right trajectory for what would be her second career win at start five when she tackles the Nutrien Harcourts Benchmark Handicap (1600m) wearing the white, green crossed sashes, red sleeves and cap carried by past Portelli-trained Group 1 stars, Fireburn and Rebel Dane. 'She got beat by a pretty smart horse of Garry Lunn's at Bathurst and after she went through the line, I thought she was battling on just as strong past the line,'' Portelli said. 'I thought maybe the slower tempo of the mile might suit her.' Portelli's final runner on Monday's card is the $30,000 Inglis Australian Weanling purchase Greygenta whose sole win thus far was a barnstorming last to first effort at Queanbeyan a week out from last Christmas. She opened her winter campaign with career worst run at Goulburn (on a heavy (9)) before bouncing back to her best 18-days later when third at Kembla. â– â– â– â– â– DANNY Williams quest for another Goulburn Trainers' Premiership starts on Monday when two of the stable string go around in eminently winnable races. Williams whose career highlights include the 2022 Group 1 Galaxy with Shelby Sixtysix just three starts after winning a Highway Handicap, has lost count of exactly how many local titles he has won but reckons it ''must be six or seven''. Williams can take his career total of Goulburn winners to 148 should the lightly-raced Manwari and his nine-year-old stablemates both be successful on Monday. Manwari will be ridden in the Maykazz Maiden (1200m) by Nick Heywood whose win tally for Williams of 46 ranks him second to Matthew Cahill (60) but above former jockey and now dual Darwin Cup winner trainer – Peter Robl – on 43. Heywood's record on Manwari is four rides for three placings including the gelding's July 15 third at Warren when clocking in third as the $1.75 favourite. 'He seems to be a horse that has shown us enough that we feel that he is city-class but he has been very disappointing on what he has shown us on the racetrack,'' Williams said. 'We took six horses to Warren looking for a drier track and it never stopped raining the whole day. 'Albeit he got through the ground, we had him at 1200m and we took some blood leading into it and the blood said he could have done with more work. 'And he struck a wet track, it says a soft (6) but it was a lot wetter than that because they downgraded it after race one. 'He just ran out of puff. 'We have held him back for this meeting for a couple of reasons. 'We've got a lot of owners coming on Monday for (me) winning the Premiership and having a day-out and secondly, it just looked a nice suitable race for him.' Avid breeding buffs will be interested to dissect Manwari's fascinating pedigree which was designed by well known industry figure, James Bester. 'We bought this horse because he is he has got a cross of two brothers,'' Williams said. 'His sire Menari is by Snitzel and he's out of a Hinchinbrook and Snitzel and Hinchinbrook are half-brothers. 'I am quite a fan on inbreeding and so we bought this horse based on his pedigree.' For the record, Manwari's inbreeding is a 4 X 4 doublecross of Snippets who happened to win the Galaxy some 24 years before Williams won it with giant-killer, Shelby Sixtysix. Speaking of 'ageless' horses, Williams makes a solid case for now nine-year-old Sapphires Son who tackles the Nutrien Harcourts Benchmark 58 Handicap over his favoured distance of 1600m. The son of former Vinery Stud resident Pluck's last win came in the nation's capital the day before Bella Nipotina's brave salute in the $20 million The Everest (1200m). That said, his recent form stands-up well in what is clearly an open and competitive mile race and while carrying a featherweight of 51kg after apprentice Dale Cole 's 4kg claim. 'He is very one-paced and he needs a lot to go right for him,'' Williams said. 'I've put Dale on him quite a bit because he is an easy to ride. Dale did ride him very well at Forbes bit Forbes is a track where you need to be running forward from the 600m and he just got held up a little bit longer than we would have liked. 'He looks to be best suited going out to 1600m and if we get a downgrade of the track it is only going to be to his benefit.'
Yahoo
25-06-2025
- Business
- Yahoo
RITM Q1 Deep Dive: Asset Management Inflows and Mortgage Servicing Offset Revenue Decline
Real estate asset manager Rithm Capital (NYSE:RITM) missed Wall Street's revenue expectations in Q1 CY2025, with sales falling 31.9% year on year to $565.8 million. Its non-GAAP profit of $0.52 per share was 11.3% above analysts' consensus estimates. Is now the time to buy RITM? Find out in our full research report (it's free). Revenue: $565.8 million vs analyst estimates of $871.8 million (31.9% year-on-year decline, 35.1% miss) Adjusted EPS: $0.52 vs analyst estimates of $0.47 (11.3% beat) Market Capitalization: $5.95 billion Rithm Capital's first quarter results showed a sizable year-over-year revenue decline, missing Wall Street's top-line expectations. Management pointed to ongoing market volatility as a factor influencing performance, but highlighted continued strength across all business lines. CEO Michael Nierenberg emphasized the company's ability to manufacture, originate, and service assets, noting that the mortgage servicing platform remained a core differentiator. The quarter also saw solid progress in asset management, as Sculptor's Real Estate Fund V achieved a record level of commitments. Nierenberg acknowledged the 'market volatility plays well into the strengths and disciplines of our organization,' attributing resilience to the experience of Rithm's investment teams. Looking forward, Rithm Capital's strategy hinges on expanding its asset management platform, growing off-balance-sheet capital, and deepening partnerships with institutional investors. Management expects continued demand for asset-backed finance (ABF) products and sees opportunities in new verticals such as energy and infrastructure. Nierenberg stated, 'Our value prop is the following: Results first, our investment professionals and teams are best-in-class across all of our investment businesses.' The company also indicated that it is actively evaluating structural changes, including a potential public listing of its Newrez mortgage business or other capital actions, with the goal to 'unlock shareholder value' by the end of 2025. Management attributed the quarter's performance to a combination of stable servicing income, active fundraising in asset management, and disciplined loan origination amid competitive pressures. Asset management inflows: The Sculptor business delivered $1.4 billion in gross inflows, with its Real Estate Fund V reaching $3.2 billion in commitments, marking the largest such fund in its history. Management noted that expanding fundraising momentum is crucial for future growth. Mortgage servicing platform scale: Newrez remained a top U.S. mortgage servicer, managing a portfolio of $845 billion, including both owned and third-party servicing. The company added four new third-party clients and maintained a 98% client retention rate since 2015. Disciplined loan origination: Amidst a competitive environment and margin compression, Rithm prioritized profitability over market share growth in its mortgage origination activities. Funded volume increased 9% year-over-year, but management avoided 'chasing market share,' focusing instead on return on equity. Expansion of product offerings: Rithm continued to roll out asset-backed finance (ABF) funds and invested $1.5 billion in non-qualified mortgage (non-QM) loans, residential transitional loans, and other asset-backed securities. The company also highlighted the upcoming launch of mortgage servicing rights (MSR) funds to meet growing investor demand for long-dated, cash-flow-oriented products. Strategic M&A and structural options: Management discussed an active mergers and acquisitions pipeline, particularly in credit and asset management, and is considering structural changes such as a public listing or externalization of certain business units to address what it perceives as a persistent undervaluation in public markets. Management sees growth in asset management, new fund launches, and capital structure optimization as key themes for the remainder of the year. Fundraising and partnership expansion: Rithm aims to grow its asset management platform by increasing fundraising efforts in real estate, credit, and ABF funds, with a focus on building long-term partnerships with institutional investors. Management believes deeper relationships will support more stable capital inflows across market cycles. Potential structural changes: The company is evaluating options such as a public listing or externalization of Newrez, as well as shifting to a C-Corp model. These moves could help close the gap between Rithm's book value and its current market valuation, and management hopes to announce a significant capital action by the end of 2025. Market-driven asset acquisition: Rithm expects continuing market volatility to create opportunities for attractive asset purchases, particularly in non-QM mortgages, residential transitional loans, and energy/infrastructure investments. Management's approach centers on disciplined risk management and capital allocation to maximize long-term returns. In the coming quarters, the StockStory team will monitor (1) the pace and scale of new fundraising in asset management and ABF products, (2) progress toward potential structural changes such as a public listing or business unit externalization, and (3) the impact of market volatility on loan origination, asset purchases, and servicing growth. Execution in these areas will be critical for Rithm's long-term trajectory. Rithm Capital currently trades at $11.22, down from $11.67 just before the earnings. At this price, is it a buy or sell? See for yourself in our full research report (it's free). Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today.
Bloomberg
05-05-2025
- Business
- Bloomberg
Milken Institute Global Conference Bloomberg Markets 05/05/2025
"Bloomberg Markets" follows the market moves across every global asset class and discusses the biggest issues for Wall Street. Today's guests; Sculptor Chief Investment Officer Jimmy Levin, Crescent Capital Group CO-Founder and Managing Partner Mark Attanasio, Edward Jones Managing Partner Penny Pennington, and Partners Group CEO David Layton, (Source: Bloomberg)
Bloomberg
17-04-2025
- Business
- Bloomberg
Sculptor Raises Near $1 Billion to Hunt for Private Debt Deals
Sculptor Capital Management Inc. raised about $900 million for its opportunistic fund as the firm looks to capitalize on market dislocations. The vehicle, named Sculptor Tactical Credit Fund, reached final close and has been eyeing non-tradeable assets across corporate, asset-based and real estate debt when opportunities arise, according to a statement seen by Bloomberg News.
