Company secures backing to expand non-agency mortgage operations
Pretium, a firm investing in non-agency mortgages, has inked a strategic partnership with Hunter Point Capital (HPC).
The deal, which includes a minority investment from HPC, is designed to propel Pretium’s expansion and tap into new investment opportunities. The companies did not disclose the financial terms of the agreement.
Founded in 2012, Pretium has grown its portfolio – which includes non-agency residential mortgages, business lending for residential properties, and extensive involvement in new home construction – to $50 billion of assets. The firm is also one of the largest owner-operators of single-family homes in the nation.
Hunter Point Capital, meanwhile, specializes in providing capital solutions to alternative asset managers, aiming to support the growth of their businesses.
Pretium president Jonathan Pruzan sees the partnership as a way to capitalize on current market trends. “During a time of significant growth and consolidation in the alternative asset management industry, HPC’s investment advances many of our top growth initiatives and strengthens our ability to capitalize on the compelling opportunities we see in the residential and credit markets,” he said. “The persistent undersupply of homes coupled with the disruption in the banking landscape will offer significant investment potential for the foreseeable future.”
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“This milestone is a testament to the accomplishments of our 4,400-plus person team and the many opportunities that lie ahead for our firm,” Pretium CEO Don Mullen added. “Avi and Bennett have built a differentiated model of partnership and share Pretium’s passion for building businesses. We look forward to drawing upon HPC’s strategic expertise, value-added operational capabilities, and global network to propel Pretium’s development into our second decade.”
“Pretium’s strategic focus and execution have accelerated its growth into a multi-strategy firm with a national presence and an expanding opportunity set,” said Avi Kalichstein, CEO and co-founder of HPC. “We look forward to supporting the talented team at Pretium as the firm builds on its success and expands its platform.”
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