Boaz Weinstein’s Coalition Increases Offer for Sculptor Capital Management

Boaz Weinstein’s coalition has raised its bid for hedge fund firm Sculptor Capital Management, according to sources familiar with the matter. The group, led by Wall Street investor Weinstein, presented an improved offer of approximately $13 per share, up from their previous bid of $12.76 per share. This move comes as Weinstein’s group finds itself engaged in a bidding war with asset manager Rithm Capital, as Sculptor Capital Management remains committed to their existing agreement made in August.

The increased offer demonstrates Weinstein’s determination to acquire Sculptor Capital Management, highlighting the potential value he sees in the firm. The bidding war between Weinstein’s coalition and Rithm Capital adds an element of uncertainty to the outcome, as both parties vie for control of the hedge fund company.

The situation surrounding Sculptor Capital Management’s ownership remains fluid, and market participants will be closely monitoring further developments. As of now, it is unclear how Rithm Capital will respond to the enhanced bid from Weinstein’s coalition. Investors and industry observers will be eagerly awaiting updates on the outcome of this ongoing battle for control.

Please note that the location of the events mentioned in the article is not specified in the original press release.