Sculptor Capital Management | Sculptor Capital Management Reports Fourth Quarter and Full Year 2021 Results

Sculptor Capital Management Reports Fourth Quarter and Full Year 2021 Results

NEW YORK, February 16, 2022 - Sculptor Capital Management, Inc. (NYSE: SCU) today reported GAAP Net Loss Attributable to Class A Shareholders of $5.8 million, or $0.23 per basic and $0.75 per diluted Class A Share, for the fourth quarter of 2021, and GAAP Net Loss of $8.6 million, or $0.34 per basic and $0.56 per diluted Class A Share for the full year 2021.

Full Year 2021 and Fourth Quarter 2021 Highlights

Distributable Earnings^[1]^,[2] were $82.8 million, or $1.38 per Fully Diluted Share for the full year 2021; there was a loss of $56.3 million, or $0.94 per Fully Diluted Share for the fourth quarter of 2021
No cash dividend was declared for the fourth quarter of 2021 to Class A Shareholders
Sculptor Master Fund was up 5.0% net for full year 2021 and down 2.3% net for the fourth quarter of 2021
Sculptor Credit Opportunities Master Fund and Customized Credit Focused Platform were up 17.0% and 17.2% net, respectively, for the full year 2021, and up 2.3% and 2.6% net, respectively, for the fourth quarter of 2021
Assets under management (“AUM”) were $38.1 billion as of December 31, 2021, up $1.3 billion year-over-year, which includes longer-term AUM of $25.8 billion, up $1.1 billion year-over-year^[3]
Gross inflows were $1.2 billion into our multi-strategy funds for 2021, the highest annual gross inflows since 2014 (as a percent of beginning AUM)
Adjusted net assets^[1],[4] were $381.4 million as of December 31, 2021

January 2022 Update

Sculptor Master Fund was down 2.6% net month-to-date through January 31, 2022
Sculptor Credit Opportunities Master Fund and Customized Credit Focused Platform were down 0.3% and 0.6% net, respectively, month-to date through January 31, 2022
As of February 1, 2022, AUM was $37.9 billion
Gross inflows were $452 million into our multi-strategy funds year to date through February 1, 2022

Sculptor will hold a conference call on Thursday, February 17, 2022, 8:30 am ET. The call can be accessed by dialing +877-407-0312 (in the U.S.) or +201-389-0899 (international) or via webcast available on our website.

About Sculptor Capital Management

Sculptor Capital Management, Inc. is a leading global alternative asset management firm providing investment products in a range of areas including multi-strategy, credit and real estate. With offices in New York, London, Hong Kong and Shanghai, the Company serves global clients through commingled funds, separate accounts and specialized products. Sculptor Capital’s distinct investment process seeks to generate attractive and consistent risk-adjusted returns across market cycles through a combination of fundamental bottom-up research, a high degree of flexibility, a collaborative team and integrated risk management. The Company’s capabilities span all major geographies, in strategies including fundamental equities, corporate credit, real estate debt and equity, merger arbitrage, convertible and derivative arbitrage and structured credit. As of February 1, 2022, Sculptor Capital had approximately $37.9 billion in assets under management. For more information, please visit the Company's website (www.sculptor.com).

Investor Relations & Media Contact
Ellen Conti
Head of Corporate Strategy
Sculptor Capital Management, Inc.
+1-212-719-7381
investorrelations@sculptor.com

[1]FORWARD LOOKING STATEMENTS: PLEASE SEE PAGE 29 OF THIS PRESS RELEASE FOR DISCLOSURES ON FORWARD-LOOKING STATEMENTS CONTAINED HEREIN.

Distributable Earnings and adjusted net assets and their components are non-GAAP measures. For more information and reconciliations of the Company's non-GAAP measures to the most directly comparable respective financial measures presented in accordance with GAAP, please see pages 22 through 25.

[2] Distributable Earnings is a measure of operating performance that equals Economic Income less amounts payable for taxes and tax receivable agreement and dividends accrued on the Preferred Units (whether paid or deferred). Preferred Units were fully redeemed in 4Q20.

[3] Defined as AUM from investors that are subject to commitment periods of three years or longer. Investors with longer-term assets under management may have less than three years remaining in their commitment period.

[4] Adjusted net assets include cash, cash equivalents and United States (“U.S.”) government obligations, at fair value, investments in funds, excluding employee-related investments, and investments in CLOs, net of financing, reduced by principal outstanding of debt obligations and par value of Preferred Units.

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