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Fitch affirms Sculptor Capital ratings

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Fitch affirms Sculptor Capital ratings

Fitch affirmed Sculptor Capital Management Inc. and its related entities' long-term issuer default ratings at B+.

The rating agency also affirmed Sculptor's existing senior secured debt at BB-/RR3.

The outlook on the ratings is stable.

Fitch said the affirmation reflects the company's performance in its core multi-strategy hedge fund business; expansion into credit and real estate products, which has generated consistent fee revenue; and modest debt reduction since the last review, among other things.

However, the rating agency said that Sculptor's business model's sensitivity to market risks and the reduced appetite of investors for hedge funds may pose constraints for the company.