Explore the latest investment insights, news, and press releases from Pretium.
Crescent Communities and Pretium Announce Joint Venture for Single-Family Build-to-Rent Platform
PRESS RELEASE Crescent Communities and Pretium Announce Joint Venture for Single-Family Build-to-Rent Platform September 16, 2021 Partnership Expects to Invest $1 Billion in Key Sunbelt Markets HARMON Brand to Offer Benefits of Single-Family Living; First Community HARMON Foxbank Available to Rent in Early 2022 CHARLOTTE, N.C. and NEW YORK, Sept. 16, 2021 (GLOBE NEWSWIRE) — […]
Reuters: Investment management firm Pretium jumps into legal finance
Reuters highlights Pretium’s new strategy in legal finance with team members Matthew Cantor, previously general counsel for Lehman Brothers and Charles (Chad) Schmerler, previously CEO of litigation finance firm Yorkside Capital LLC.
Pretium Launches Legal Investment Group
PRESS RELEASE Pretium Launches Legal Investment Group September 13, 2021 Industry veteran Matthew Cantor will lead new team with support from team of specialized financial and legal professionals NEW YORK, Sept. 13, 2021 /PRNewswire/ — Pretium, a specialized investment management firm with more than $26 billion in assets, today announced that it has established a […]
Private Credit Fund Intelligence: Pretium plans fundraising blitz following hiring spree
INSIGHTS Pretium plans fundraising blitz following hiring spree August 31, 2021 Download 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 […]
Structured Credit Investor: Pretium steps out. Three hires signal new products and added depth to old ones.
Structured Credit Investor highlights Pretium’s new talent within the Residential Credit business, Sarah Kong, Andrew Miller, and Peter Morreale.
Bloomberg: Leveraged Loan Onslaught Is Starting to Face Investor Pushback
Bloomberg’s Lisa Lee highlights insights from Pretium’s Roberta Goss for Credit Investing.
Pretium Sets the Standard for Professional Single-Family Rental Ownership
INSIGHTS Pretium Sets the Standard for Professional Single-Family Rental Ownership July 30, 2021 Download 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 […]
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 […]
2021 U.S. Housing Market Outlook
INSIGHTS 2021 U.S. Housing Market Outlook April 6, 2021 Download Executive Summary Housing Was the Top Macro Surprise of 2020 • CoreLogic’s National Home Price Index rose 9.2% YoY, a remarkable performance given the severity of job losses and incomplete recovery of pre-pandemic employment levels. • As the pandemic began to restrict social interaction, households […]
2021 U.S. Credit Outlook
INSIGHTS 2021 U.S. Credit Outlook April 6, 2021 Download Executive Summary A Pandemic of Disruption • The COVID-19 pandemic arguably catalyzed at least three major paradigm shifts of importance to credit markets. • For one, the birth of “Corporate QE” represents a new market structure for corporate spreads, one that aided dramatic reversal of spreads […]
Pretium Grows Senior Investment Team with Addition of Two Managing Directors
PRESS RELEASE Pretium Grows Senior Investment Team with Addition of Two Managing Directors March 16, 2021 Additions of Matt Johnston and Kyle Mitts will further expand Pretium’s capabilities in single-family rental and build-to-rent industries NEW YORK –March 16, 2021 – Pretium, a specialized investment management firm focused on housing and credit with more than $20 […]
PSP Investments and Pretium Announce Joint Venture to Invest in Single-Family Rentals
PRESS RELEASE PSP Investments and Pretium Announce Joint Venture to Invest in Single-Family Rentals January 28, 2021 January 28, 2021 – The Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investment managers, and Pretium, a specialized alternative investment management firm, today announced the launch of a joint venture that will initially […]
Pretium, Ares Management and Front Yard Residential Complete First-Ever Single-Family Rental Take-Private Transaction
PRESS RELEASE Pretium, Ares Management and Front Yard Residential Complete First-Ever Single-Family Rental Take-Private Transaction January 11, 2021 NEW YORK and LOS ANGELES, Jan. 11, 2021 — Pretium and a group of its investors, and funds managed by the Real Estate Equity and Alternative Credit strategies of Ares Management Corporation (NYSE: ARES) (“Ares”) today announced […]
2020 Milken Institute Global Conference
INSIGHTS 2020 Milken Institute Global Conference November 6, 2020 Pretium Founder and CEO, Don Mullen participated in the discussion “Credit is a Cycle: Finding Opportunity in Turmoil” alongside other industry experts at the 2020 Milken Institute Global Conference. View highlights from Don’s panel. What is unique about this credit cycle? https://pretium.com/wp-content/uploads/2020/11/Pretium-Video3-Whats-Unique-1-1.mp4 What are the opportunities? […]
Pretium and American Equity Announce Strategic Partnership
PRESS RELEASE Pretium and American Equity Announce Strategic Partnership October 29, 2020 New York – October 29, 2020 – Pretium today announced it entered into an expanded strategic partnership with American Equity Investment Life Insurance Company (“AEL”). The transaction builds upon AEL’s prior investment commitments with Pretium, increasing total commitments to $1 billion with pre-agreed […]
Pretium and Ares Management Announce $2.4-Billion Take-Private Transaction with Front Yard Residential
PRESS RELEASE Pretium and Ares Management Announce $2.4-Billion Take-Private Transaction with Front Yard Residential October 19, 2021 New York and Los Angeles – October 19, 2020 – Pretium and a group of its investors and funds managed by the Real Estate Equity and Alternative Credit strategies of Ares Management Corporation (NYSE: ARES) today announced a […]
Creditflux Q3 Credit Rendezvous
INSIGHTS Creditflux Q3 Credit Rendezvous October 16, 2020 Download The loan market is becoming increasingly dependent on CLOs and that could leave some credits in the cold. Bullish Opportunity in credit and loans is unparalleled Bearish There are landmines in every sector Biggest challenge Growing dependence on the CLO market Speculative grade credit markets will be the […]
Trans-Canada Capital Expands Relationship with Pretium via USD$110 Million Opportunistic Corporate and Structured Credit Mandate
PRESS RELEASE Trans-Canada Capital Expands Relationship with Pretium via USD$110 Million Opportunistic Corporate and Structured Credit Mandate October 6, 2020 October 6, 2020 – Trans-Canada Capital Inc. (“TCC”) and Pretium, a specialized alternative investment management firm, are pleased to announce that TCC has committed to invest USD$110 million in opportunistic corporate and structured credit strategies […]
Pretium 2020 Mid-Year Housing Outlook
INSIGHTS Pretium 2020 Mid-Year Housing Outlook September 1, 2020 Download Executive Summary We expect the housing market to remain resilient to the “Covid-19” recession While economic damage from COVID-19 is often attributed to combination of government-enforced lockdowns and consumer risk aversion, research shows over 90% of the declines in economic activity has been driven by […]
PR3 to Manage 4,000 New Build-for-Rent Homes
PRESS RELEASE PR3 to Manage 4,000 New Build-for-Rent Homes June, 18, 2020 SCOTTSDALE — June, 18, 2020 — PR3 Management by Progress Residential® (PR3), a national single-family rental property management provider, today announced it has signed a three-year multi-state property management agreement with SVN | SFR Capital Fund I, LP (the “Fund”) to manage approximately […]
Veteran Economist Charles Himmelberg Joins Pretium
PRESS RELEASE Veteran Economist Charles Himmelberg Joins Pretium June 17, 2020 New York – June 17, 2020 – Pretium, a leading investment firm with $14 billion of managed assets, today announced that Charlie Himmelberg has joined the firm as a Senior Managing Director and Head of Macro Research. Mr. Himmelberg brings more than 25 years […]
Pretium Taps Former Lehman Legal Head for Bankruptcy Expertise
PRESS RELEASE Pretium Taps Former Lehman Legal Head for Bankruptcy Expertise June 3, 2020 (Bloomberg) June 3, 2020 — Pretium Partners hired former Lehman Brothers Holdings Inc. general counsel Matthew Cantor as the hedge fund seeks to expand its capabilities in bankruptcy and distressed debt investing. Cantor will be a senior managing director at the […]
Pretium Builds on Growth with New Hires
PRESS RELEASE Pretium Builds on Growth with New Hires April 8, 2020 New York – April 8, 2020 – Pretium, a leading investment firm with $14 billion of managed assets, today announced that Jennifer Strickland has joined the firm as Co-Head of Business Development. Ms. Strickland joins Pretium with two decades of business development experience, […]
Pretium Acquires Investment Management Business of Latigo
PRESS RELEASE Pretium Acquires Investment Management Business of Latigo February 27, 2020 NEW YORK–(BUSINESS WIRE)–Pretium Partners, LLC (“Pretium”) and Latigo Partners, L.P. (“Latigo”) today announced that Pretium has acquired the investment management business of Latigo. Latigo co-founders David Ford and David Sabath are joining Pretium as Senior Managing Directors, members of the Executive Committee and […]
2020 U.S. Housing Market Outlook
INSIGHTS 2020 U.S. Housing Market Outlook February 13, 2020 Download Executive Summary In 2019, residential real estate market fundamentals tightened further driven by steady and above-trend demand for housing and a persistent undersupply of new housing The vacancy rate of for-sale and for-rent housing averaged 3.1% in 2019 (-10bp Y/Y), the lowest level since 1984. […]
2020 Credit Market Outlook
INSIGHTS 2020 Credit Outlook February 13, 2020 Download Executive Summary Our 2020 Credit Market Outlook details weak and challenged corporate profitability, disruptive threats across industries, above-average debt burdens and poor loan underwriting since 2016 will in combination lead to a surge of downgrades and negative price actions. Pretium’s baseline credit outlook is that we are in […]
Deephaven and Selene Complete Residential Credit Ecosystem
INSIGHTS Deephaven and Selene Complete Residential Credit Ecosystem February 7, 2020 Download In late 2019, Pretium closed on the acquisition of Deephaven Mortgage (“Deephaven”), a market leading non-QM mortgage originator, and Selene Finance (“Selene”), a premier mortgage servicer. The addition of these businesses to our existing asset management and investment platform provides significant scale and […]
Pretium Successfully Completes $1.5 Billion Transaction for its First Single-Family Rental Fund
Pretium announced it has successfully completed a transaction for its 2013 single-family rental (“SFR”) fund.
Residential Credit: Deleveraging and Regulatory Changes Provide Opportunity
Over the past 10 years, U.S. households have significantly de-levered and de-risked their balance sheets, standing in sharp contrast to the incremental leverage and risk added by U.S. corporate borrowers and the federal government.
Non-Qualifying Mortgages: Introduction and Investment Considerations
Post-crisis mortgage regulation created two classes of mortgage loans, “qualified mortgages” and “non-qualified mortgages,” based on certain loan characteristics including income verification and debt to income ratios.
Pretium Completes Acquisition of Selene Holdings
Joe Davila named Chief Executive Officer and President
Pretium Completes Acquisition of Deephaven Mortgage from Värde Partners
Pretium and Värde Partners today confirmed the completion of their previously announced agreement for Pretium to acquire Deephaven Mortgage LLC (“Deephaven”) from Värde Partners.
Residential Real Estate Correlations and Rate Sensitivity
Home prices exhibit a stronger correlation to GDP growth and employment growth than interest rates due to the generally pro-cyclical nature of housing values.
Pretium to Acquire Deephaven Mortgage from Värde Partners
Pretium and Värde Partners announced that they have entered into a definitive agreement for Pretium to acquire Deephaven Mortgage LLC from Värde Partners.
2019 U.S. Housing Market Outlook
We expect structural imbalances in the U.S. housing market will continue, leading to further tightening of fundamentals and higher shelter costs.
2019 Credit Market Outlook
Pretium is constructive on the near-term credit market outlook for the U.S. economy, but risks to forward growth are mounting from late-cycle headwinds and potential downside risks from domestic and global policy.
Implications of Rising Mortgage Rates for the SFR Business
In our view, the sharp change in homeowner affordability, coupled with strong housing demand and tight supply, is likely to drive significant rental demand from households priced out of homeownership due to cost or credit.
Pretium Partners Acquires Selene Holdings
Pretium Partners, LLC (“Pretium”), an investment management firm focused on real estate, mortgage finance and corporate credit with over $10 billion in assets under management, today announced that it has entered into a definitive agreement to acquire Selene Holdings LLC (“Selene”) from funds managed by Oaktree Capital Management, L.P. (“Oaktree”) and Ranieri Partners LLC (“Ranieri”).
Next Default Cycle Will Look More Like 2000
To compare credit cycles, we look at three critical factors including the length of a default cycle, its magnitude, and severity of loss.
2018 U.S. Housing Market Outlook Mid-Year Update
The U.S. economy is performing well, supported by healthy job growth, corporate tax reform and elevated consumer and business confidence.
Pretium Partners Raises More Than $1 Billion For Single-Family Rental Platform
Total equity capital committed during the fundraising period exceeded $1 billion, including SFR Fund II and targeted commitments from separately managed accounts pursuing SFR strategies.
Charles “Chaz” E. Mueller, Jr. Named Progress Residential Chief Executive Officer
Progress Residential, a leading owner and operator of high-quality single-family homes for rent, formed by alternative investment manager Pretium Partners, LLC, today announced that Chaz Mueller has joined Progress Residential as Chief Executive Officer.
Pretium Partners Expands Credit Management Business with Acquisition of NewMark Capital Assets
Last week, Pretium reached an agreement to assume management of two CLOs that are currently managed by NewMark Capital LLC. NewMark Capital Funding 2013-1 CLO Ltd and NewMark Capital Funding 2014-2 CLO Ltd currently hold approximately US$750 million in assets.
2018 U.S. Housing Fundamentals and Single-Family Rental Outlook
The compression in housing availability during a period of improving economic growth and sustained housing demand drove another year of rental rate and home price growth.