PRETIUM MEANS A DISCIPLINED SEARCH FOR VALUE

Investment Philosophy

Our objective is to differentiate ourselves from other investment firms by building integrated operating and analytics platforms capable of providing exposure to assets that are priced at a discount to their intrinsic value in real estate, loans and/or securitized debt.

Our Strategies

Pretium Partners was established in 2012 to capitalize on investment and financing opportunities that arose post-crisis as a result of structural changes within the economy, the U.S. housing sector, and mortgage finance and corporate credit markets.

Our strategy is to enter businesses and markets characterized by inefficiencies, and where we believe we have a well-defined competitive edge driven by our team’s experience, our integrated operating platform, and the evolving nature of the markets in which we invest.

We currently employ several distinct strategies to capitalize on our analytic and operational platform and build upon our extensive residential real estate experience. One of our strategies focuses on investment in and management of single-family residential rental real estate, while other strategies focus on the purchase of under-performing residential whole loans and the execution of various loss mitigation strategies in order to enhance their value. In addition, the firm is engaged in strategies relating to corporate credit, including collateralized loan obligations.

Pretium Strategy I – Real Estate Opportunities

AUM: $5.26 BILLION*

 

Pretium’s real estate funds are one of the largest owners of high quality single-family rental homes in the U.S., with over 22,000 homes owned and awarded across 15 core markets as of September 30, 2017. As the manager of these assets, we are committed, long-term, to our residents and communities. By carefully selecting well-maintained homes to rent, we create value for our residents and deliver attractive, risk-adjusted returns to our investors. Our experienced analytics and investment teams pursue the careful acquisition of quality homes at attractive valuations. Our construction and property management teams have formed strong partnerships to maintain comfortable homes that attract families seeking pleasant, single-family home living in quality neighborhoods with excellent school districts located in high-growth markets.

GROWTH OF STRATEGY I RESIDENTIAL PORTFOLIO

Jun 30 2013
3743
Dec 31 2013
6672
Jun 30 2014
9483
Dec 31 2014
12304
Jun 30 2015
14584
Dec 31 2015
16569
Jun 30 2016
17937
Dec 31 2016
19880
Jun 30 2017
20062

STRATEGY I MARKETS AND STATES

STRATEGY I OCCUPANCY RATES

All Homes Owned - Occupancy Rates

Dec 31 2013
55%
Jun 30 2014
80%
Dec 31 2014
82%
Jun 30 2015
87%
Dec 31 2015
89%
Jun 30 2016
90%
Dec 31 2016
90%
Jun 30 2017
96%

Homes 90+ Days Rent Ready - Occupancy Rates

Dec 31 2013
87%
Jun 30 2014
96%
Dec 31 2014
96%
Jun 30 2015
95%
Dec 31 2015
94%
Jun 30 2016
96%
Dec 31 2016
93%
Jun 30 2017
96%

Pretium Strategy II – Non-Performing Mortgage Loan Opportunities

AUM: $3.36 BILLION*

 

Pretium Partners believes an opportunity exists in residential non-performing whole loans (NPLs). A robust supply of NPL sales has created an opportunity to acquire residential housing assets at a substantial discount to current market value and benefit from improving U.S. housing and mortgage markets.

Pretium Strategy III – Corporate Credit Opportunities

AUM: $0.95 BILLION*

 

Pretium’s corporate credit platform specializes in sourcing, structuring and managing high yield portfolios. Currently the firm’s affiliates serve as the manager for cash-flow collateralized loan obligations backed by broadly-syndicated leveraged loans. In addition, the firm’s affiliates manage a hedge fund focused on credit and structured product investing and serve as sub-advisor to the Ziegler Floating Rate Fund, a mutual fund focused on leveraged bank loan investing.

* Please see the appropriate disclosure on the Disclaimer page.