New Residential Investment Closes Acquisition of Genesis Capital to Enhance Suite of Mortgage Product Offerings.
MANews-(C)2009-2021
New York-based mortgage-focussed capital and services provider New Residential Investment Corp. (NYSE: NRZ) has closed a deal with affiliates of The Goldman Sachs Group, Inc. to acquire California-based business lender Genesis Capital LLC, the company said.
Terms of the transaction were not disclosed.
New Residential financed the transaction with existing cash and committed asset-based financing from Goldman Sachs.
Genesis supports developers throughout the property lifecycle, partnering to create value for their long standing and new borrower relationships. New Residential intends for Genesis to operate as an independent subsidiary of New Residential.
Skadden, Arps, Slate, Meagher and Flom LLP acted as legal advisor to New Residential. Goldman Sachs and Co. LLC acted as exclusive financial advisor and Davis Polk and Wardwell LLP acted as legal advisor to Genesis.
New Residential is a provider of capital and services...
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