Private Credit Fund Intelligence: Pretium plans fundraising blitz following hiring spree

INSIGHTS

Pretium plans fundraising blitz following hiring spree

August 31, 2021

Private Credit Fund Intelligence: Pretium plans fundraising blitz following hiring spree

$26bn manager opens Dubai office and adds two senior US investor relations pros

Pretium Partners has added three senior investor relations pros as it looks to capitalise on recent hiring activity in its investment team, PCFI has learned.

The $26bn alternative credit manager has hired Jamal Saab to open a new Dubai office, as well as adding US-based investor relations pros Ralph Canada and Katherine Plavan in managing director-level roles. A spokesperson for Pretium confirmed the hires.

The new hires come hot on the heels of a string of new additions to Pretium’s investment team, with the firm beefing up its residential credit team and launching a new litigation finance strategy over the summer.

Saab, who will run Pretium’s new Dubai office, joins after a seven-and-a-half-year stay at PineBridge, where he was responsible for building out its Middle East and North Africa business development strategy. Before that, he spent nineand-a-half years in a similar role for Natixis Global Asset Management, sitting on the firm’s international strategic committee.

Meanwhile, Canada will be responsible for Pretium’s investor relations efforts in the western region of the US. He joins after a two-year stay at Partners Group, and previously spent six years in the IR team at Ares Management, latterly serving as a partner at the firm.

Finally, Plavan will serve as managing director in the strategic accounts team. Plavan, who is based in New York, was most recently head of investor relations at real estate investment firm Amherst Holdings. Earlier in her career, she spent seven years at hedge fund MKP Capital, latterly as a partner.

“We are excited to welcome such exceptional business development professionals as Jamal, Ralph and Katie,” said Jennifer Strickland, head of business development at Pretium. “With their talents, we look forward to better serving institutional investors.”

The hires come shortly after a string of senior hires in Pretium’s investment team, which has seen the firm launch a new litigation finance strategy and add to its residential credit team.

In June, PCFI reported that the firm had brought in Charles Schmerler and John Salomon as senior managing directors in a newly created legal, regulatory and process investments unit.

The pair will report to Matt Cantor, who joined Pretium last year as a senior managing director focusing on distressed and distressed credit.

Meanwhile, last month saw Pretium announce the hires of Goldman Sachs’ Sarah Kong, Fortress Investment Group’s Andrew Miller and Cadwalader’s Peter Morreale, all of whom joined the firm’s residential credit team.

The firm previously announced the hires of Matt Johnston and Kyle Mitts, who joined in March as managing directors focusing on investments in the single-family rental and build-to-rent industries.

by James Harvey
j.harvey@pcfi.global

REPRINTED WITH PERMISSION BY PCFI.GLOBAL

 

Pretium Sets the Standard for Professional Single-Family Rental Ownership​

INSIGHTS

Pretium Sets the Standard for Professional Single-Family Rental Ownership​

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Executive Summary

Pretium has provided unmatched support to its residents during the COVID-19 crisis, facilitating and providing over $50 million in assistance for thousands of residents – and continuing to do more every day. We are dedicated to working with residents to keep them in their homes and you can learn more about how we do that by viewing our fact sheet.

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Pretium Adds Residential Credit Expertise with Three Executive Hires

PRESS RELEASE

Pretium Grows Senior Investment Team with Addition of Two Managing Directors

August 2, 2021

NEW YORK, Aug. 2, 2021 /PRNewswire/ — Pretium, a specialized investment management firm focused on residential real estate, residential credit and corporate credit with $26 billion in assets, today announced that Sarah Kong, Andrew Miller and Peter Morreale have joined the firm as Managing Directors.

Based in New York, Ms. Kong, Mr. Miller and Mr. Morreale bring a diverse mix of skillsets that will enable Pretium to further develop and broaden its residential credit investing capabilities across sourcing, underwriting, trading, servicing and originating loans throughout many areas of the U.S. residential lending sector.

“We are pleased to welcome these three uniquely talented and highly proven senior professionals to our team,” said Don Mullen, CEO and Founder of Pretium. “I’m confident Sarah, Andrew and Peter’s extensive expertise and operational experience will enable them to make an immediate impact in terms of enhancing our ability to source compelling opportunities, provide industry-leading levels of service, and expand our firm’s strategic footprint in the industry. The U.S. residential credit space currently presents an incredibly attractive opportunity thanks to strong housing market fundamentals, and we look forward to continuing to seize this opportunity for our investors while enabling beneficial outcomes for borrowers and other stakeholders.”

Ms. Kong joins Pretium’s Residential Credit team from Goldman Sachs where she spent 15 years in the firm’s mortgage business. She will be responsible for mortgage whole loan trading at Pretium.

Mr. Miller comes to Pretium from Fortress Investment Group where he spent 12 years building and managing structured mortgage strategies. In his new role, he will be responsible for the buildout of Pretium’s Mortgage Servicing Rights investment strategy and the expansion of the firm’s Ginnie Mae Early Buyout investing capabilities.

Mr. Morreale joins Pretium from Cadwalader, Wickersham & Taft LLP, bringing over two decades of experience representing issuers, underwriters, and servicers in connection with public and private finance transactions within the residential mortgage, single-family rental, consumer loan, and CLO asset classes. In his new role, Mr. Morreale will assist with the structuring, negotiation, and execution of capital markets transactions across the firm.

 

About Pretium

Pretium was founded in 2012 to capitalize on secular investment and lending opportunities arising as a result of structural changes, disruptions, and inefficiencies within the economy. Pretium has built an integrated analytical and operational ecosystem within the U.S. housing, residential credit, and corporate credit markets, and believes that its insight and experience within these markets create a strategic advantage over other investment managers. Pretium’s platform has approximately $26 billion of assets under management as of June 30, 2021 and employs approximately 2,500 people across 29 offices. Please visit www.pretium.com for additional information.

 

For more information, please contact:

Prosek Partners
Josh Clarkson / William Szczecinski
646-818-9259 / 912-344-7423
jclarkson@prosek.com / wszczecinski@prosek.com

 

June 2022

Pretium’s State of ESG Report

Read here to learn more.