
Pretium’s Housing Insights, November 2023
The popular housing narrative overstates the mortgage rate lock-in effect. Structural supply-demand imbalance is the reason home prices are rising, not higher mortgage rates.

Pretium’s Housing Insights, October 2023
Measuring single-family rental supply is important to evaluating supply-demand fundamentals; however, there is limited data on the subject.

Pretium’s Housing Insights, September 2023
Since the Federal Reserve began its campaign to raise interest rates in early 2022, there has been a marked divergence between the price trends of single-family and traditional commercial real estate.

Jonathan Pruzan, Former Morgan Stanley COO & CFO, Joins Pretium as President
Pretium, a specialized investment firm with more than $50 billion in assets under management, today announced that Jonathan Pruzan has joined the firm as President and a member of the Executive Committee, effective immediately.

Is CLO Outperformance Sustainable?
A portfolio of U.S. CLO equity and CLO BB debt securities should outperform HY bonds across a variety of potential future economic scenarios.
Pretium’s Real Estate Team Expands by Adding Experienced Portfolio Manager Jason Lewis as Managing Director
Pretium, a specialized investment firm with more than $50 billion in assets under management, today announced that Jason Lewis has joined the firm as a Managing Director and Portfolio Manager on the Real Estate team.

SCI Pretium – Mezz Opportunities
Pretium structured credit and CLO liabilities MD Ian Wolkoff and Director Marty Young argue that mezzanine CLO bonds should be on the radar screens of most asset allocators with long investment horizons.

Long-Term Bullish Outlook for the Housing Rehabilitation Industry
The aging U.S. housing stock, slow new home construction pace, and post-pandemic shifts in housing utilization create strong tailwinds for housing rehabilitation and remodeling activity.

Pretium’s Second State of ESG Report
The past year of our environmental, social, and governance journey features milestones for Pretium and our operating companies.

Opportunities for Generating Alpha in the U.S. CLO Market
U.S. CLO debt offers high average yields due to persistent complexity and liquidity premiums, with return dispersion providing opportunities for generating alpha through active management.
Pretium Expands Real Estate Team with Addition of Melanie Gersper as Managing Director, Asset Management
Pretium, a specialized investment firm with more than $50 billion in assets under management, today announced that Melanie Gersper has joined the firm as Managing Director, Asset Management.
Julie Harbert Joins Pretium as Senior Managing Director and President of Pretium Enterprise Services
Pretium, a specialized investment firm with more than $50 billion in assets under management, today announced that Julie Harbert has joined the firm as Senior Managing Director and President of Pretium Enterprise Services.
Pretium Announces New Partnership With iCapital®
Pretium, a specialized investment firm with over $50 billion in assets under management, and iCapital , the global fintech platform driving access to alternative investments for the wealth management industry, today announced a custom technology and distribution agreement.

Pretium’s Housing Insights, February 2023
Single-family and multifamily supply outlooks have diverged meaningfully. It will likely take much longer to absorb multifamily vs. single-family units under construction.
Pretium Announces Promotions to Managing Director, Highlighting Firm’s Emerging Leaders
Pretium, a specialized investment firm with more than $50 billion in assets under management, today announced its 2023 promotions to Managing Director, effective January 1, 2023.
Emily Stecher Joins Pretium’s Growing Business Development Team
Pretium, a specialized investment firm with approximately $50 billion in assets under management, today announced that Emily Stecher has joined the firm as Managing Director and Chief Operating Officer of the Business Development team.

Pretium’s Housing Insights, January 2023
Increased long-distance migration persisted in 2022. The pandemic is likely to have a structural, long-term impact on housing demand.
Pretium Founder and CEO, Don Mullen, Sends Letter to President Biden Urging Collaborative Public and Private Sector Action to Address Our Nation’s Housing Challenges
Pretium, a specialized investment firm with more than $50 billion in assets under management, today released the following letter sent by Don Mullen, the firm’s Founder and CEO, to President of the United States Joseph R. Biden, Jr.
HARMON Five Points Leasing Soon
Crescent Communities and Pretium are pleased to announce leasing will begin soon at HARMON Five Points, the fourth build-to-rent (BTR) community under development, and the second in Charlotte, as part of their previously announced joint venture.

Pretium’s Housing Insights, December 2022
Expanding build-to-rent construction increases housing supply and preserves rental access. Build-to-rent typically produces smaller, more affordable homes that are in shortest supply.

The Strategic Case for CLOs vs. High Yield Corporate Bonds
BB CLOs earn a persistent yield premium – currently over 6% – relative to corporate bonds of equal risk. Pretium believes that most investors who are allocating to high yield corporate bonds should also be considering bonds from the collateralized loan obligation (CLO) sector as well.
Pretium Announces Dana Hamilton to Retire from Firm
Pretium, a specialized investment firm with approximately $50 billion in assets under management, today announced that Senior Managing Director and Co-Head of Real Estate, Dana Hamilton, is retiring from the firm.
Pretium Congratulates Roberta Goss for Recognition as One of The Most Notable Women on Wall Street by Crain’s New York Business
Pretium, a specialized investment firm with approximately $50 billion in assets under management, today congratulated Roberta Goss, Senior Managing Director and Head of the Bank Loan and CLO Platform, for being named one of the “Most Notable Women on Wall Street” by Crain’s New York Business.

Pretium’s Housing Insights, November 2022
The US is already underbuilding housing again, worsening the long-term supply shortage. Single-family housing construction has fallen meaningfully below long-term averages.
Pretium Expands Global Business Development Team with Hiring of Rune Sanbeck as Managing Director in London Office
Pretium, a specialized investment firm with approximately $50 billion in assets under management, today announced that Rune Sanbeck has joined the firm as Managing Director, Business Development.

CLO Equity Delivered Strong Returns Through the Financial Crisis Period
During the Global Financial Crisis (GFC) episode, default rates on the bonds issued by collateralized loan obligations, or CLOs, were far lower than those for other structured credit products such as CDOs, RMBS, CMBS, and ABS.
Pretium, Progress Residential Outline Affordable Single-Family Rental Housing Strategy
Pretium, a specialized investment firm with approximately $50 billion in assets under management, today announced, in a joint press release with Progress Residential, the next steps in its plans to increase access to affordable single family rental housing.

Pretium’s Housing Insights, October 2022
One of the more persistent housing narratives to emerge during the pandemic is that a dramatic increase in investor activity has limited the ability of aspiring homeowners to purchase single-family homes.

Key Takeaways from Pretium’s 2022 Investor Symposium
This September, we hosted nearly 300 investors at our 2022 Investor Symposium in New York City. Leading experts in real estate, residential debt, and credit discussed industry trends as well as the global economic landscape. The headline: there are a number of forces at play in the global real estate and credit markets that are relevant to investors now and as we head into 2023.
Crescent Communities Hosts Groundbreaking Event for Build-to-Rent Communities in Charlotte
Crescent Communities and Pretium are pleased to celebrate the groundbreakings of HARMON Ballantyne and HARMON Five Points, two build-to-rent (BTR) communities under construction in Charlotte as part of the companies’ joint venture and commitment to invest $1 billion in new single-family build-to-rent communities across 14 key strategic growth markets. The groundbreakings took place on September 28.
Frank Garcia Joins Pretium’s Growing Real Estate Team as Head of Fund Portfolio Management
Pretium, a specialized investment firm with approximately $50 billion in assets under management, today announced that Frank Garcia has joined the firm as Managing Director and Head of Fund Portfolio Management for Pretium’s real estate platform, effective October 17, 2022. In this role, Mr. Garcia will spearhead portfolio management for Pretium’s single-family rental (SFR) fund strategy while engaging and informing the firm’s global client relationships.

Pretium’s Housing Insights, September 2022
In forecasting home prices, the last housing cycle is a poor guide for this one. The post-pandemic demand and supply backdrop has strong and stable underpinnings.
Pretium Expands Global Business Development Capabilities and Commitment to Asia and Australia with New Managing Directors
Pretium Partners, a specialized investment firm with approximately $50 billion in assets under management, today announced an expansion of its business development capabilities and commitment to Asia and Australia with two senior hires. Jayme Han, based in Seoul, Korea, and Craig Matthew, based in Sydney, Australia, join Pretium as Managing Directors for Asia and the Australia & New Zealand region, respectively. With these hires, Pretium is establishing its first offices in Asia and Australia to further the goal of becoming a partner of choice for investors worldwide.

Pretium’s Housing Insights, August 2022
Housing’s slowdown is likely to be felt more acutely in the new home market vs. the resale market. Pandemic supply chain issues increase inventory risk in the new home market.
Lauren Cipicchio Joins Pretium to Lead Central Quantitative Strategies
Pretium, a specialized investment firm with approximately $50 billion in assets under management, today announced the addition of Lauren Cipicchio as Senior Managing Director and Head of Central Quantitative Strategies, effective immediately. In this role, Ms. Cipicchio will lead the teams focused on designing, developing, and enhancing the analytics and models used to make investment and operating decisions to advance Pretium’s investment strategies. She will be a member of the firm’s Executive Committee.
Onyx+East and Pretium Start Construction of Second Build-to-Rent Community
Onyx+East, an award-winning homebuilder headquartered in Indianapolis and known for its modern and functional home designs, and Pretium, a specialized investment firm with approximately $50 billion in assets, today announced the start of construction of Marea, the second build-to-rent (“BTR”) community under development through their previously announced joint venture. As part of the joint venture, Onyx+East and Pretium are committed to investing approximately $600 million to develop, build, and operate new single-family, BTR communities across key Midwestern markets and along Florida’s West Coast.
ESG Policy
INSIGHTS ESG Policy June 13, 2022 The Firm believes systematic integration of ESG considerations into investment and ownership is the next step and that this will help the Firm’s decision-making and ultimately enhance value for our investors. We believe developing ESG systems around our investments and adjacent strategies will be key to navigating existing and […]
DEI Statement
INSIGHTS DEI Statement June 13, 2022 Pretium strives to have a diverse workforce reflective of the communities in which we operate. We believe this driving principle will make us a better Firm, one more able to deliver value to our investors. We are committed to embracing and developing Diversity, Equity, and Inclusion (“DEI”) best practices […]