Overview
RCM GA Manager LLC (referred to herein as “RCM GA” or the “Firm”) is a Delaware limited
liability company formed on February 23, 2024 and headquartered in New York, NY. RCM GA is
a direct, wholly-owned subsidiary of Rithm Capital Management LLC (“RCM”), a Delaware
limited liability company formed in 2022. RCM is a direct, wholly-owned subsidiary of Rithm
Capital Corp. (“RCC”), a publicly traded real estate investment trust (NYSE: RITM). RCC was
created in 2013 to own mortgage servicing rights (“MSRs”) and other mortgage related assets and
was previously externally managed by an affiliate of Fortress Investment Group. In 2022, Rithm
internalized its management function and rebranded from New Residential Investment Corp. to
RCC to reflect diversification in asset management and investment in the financial and real estate
sectors.
RCM GA, together with its subsidiaries and affiliates (including, where applicable, RCM), is
referred to herein as “Rithm.” Additionally, RCM, and other affiliates of RCM GA, including
investment funds that are managed or may in the future be managed by any such affiliate, are herein
referred to as “Rithm Affiliates.”
RCM GA expects to provide investment advisory services to Great Ajax Corp., a Maryland
corporation that is organized and operated as a mortgage real estate investment trust (the “REIT”).
The REIT conducts substantially all of its business through its operating partnership, Great Ajax
Operating Partnership L.P., a Delaware limited partnership (the “Operating Partnership”) and its
subsidiaries. The Operating Partnership’s wholly owned subsidiary, Great Ajax Funding LLC
(“Great Ajax Funding”), acts as the depositor of mortgage loans into securitization trusts and holds
the subordinated securities issued by such trusts and any additional trusts the REIT may form for
additional secured
borrowings. The REIT, the Operating Partnership and any current or future
subsidiaries of the REIT are hereinafter referred to as the “Company”.
The REIT expects to pursue a flexible real estate investment strategy. Its target assets are currently
expected to be in the commercial real estate sector, including commercial real estate, as well as
preferred equity or debt instruments secured by mortgages on these types of properties, small
balance commercial loans, mezzanine loans secured by pledges of equity interests in entities that
own these types of properties or other forms of subordinated debt in connection with these types of
properties, as well as commercial mortgage servicing rights and operating businesses in the sector.
The provision of RCM GA’s investment advisory services to the REIT will be detailed in the
management agreement (a “Management Agreement”), governing documents and public filings for
the REI (together with the Management Agreement, the “Disclosure Documents”), and investors
will determine the suitability of investing in the REIT based on, among other considerations, the
Disclosure Documents.
Unless the context otherwise requires, references in this Firm Brochure to RCM GA should be
construed to mean RCM GA and its personnel.
RCM GA does not anticipate participating in wrap fee programs.
As of the date of this filing, RCM GA does not have any discretionary or non-discretionary
regulatory assets under management. However, RCM GA has registered with the SEC in reliance
on Rule 203A-2(c) as the Firm expects to be eligible for SEC registration within 120 days after the
date RCM GA’s registration with the Commission becomes effective due to the investment
management services it will provide to the REIT and its regulatory assets under management. RCM
GA intends to update this Firm Brochure at such time.