PSP Investments and Pretium Announce Joint Venture to Invest in Single-Family Rentals
- S&P 500, Dow climb for third day and close at records
- Tesla (TSLA) China Numbers 'Robust' - Wedbush
- Apple (AAPL) Shares Seen as 'Attractive' as Recent Checks Show Continuously Strong Demand - Citi
- Amazon.com warehouse workers vote to reject forming union in Alabama
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
NEW YORK, Jan. 28, 2021 /PRNewswire/ -- 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 invest $700M into single-family rentals (SFR) across major markets in the southeastern and southwestern United States.
The venture represents the first partnership between the two firms, in a sector that has presented highly attractive opportunities for large operators with significant existing exposure such as Pretium, which is currently the second-largest owner and operator of SFR properties in the United States.
"We are pleased to have the opportunity to establish this joint venture with PSP Investments, which demonstrates the increasing level of interest in SFR from leading institutions as the asset class has delivered strong performance and is poised to benefit from meaningful secular tailwinds," said Donald Mullen, Founder and Chief Executive Officer of Pretium. "It is a privilege to partner with PSP Investments, a globally recognized leader in pension investment management, and we look forward to creating value on behalf of all constituents by leveraging our platform and expertise as a pioneer in this asset class."
"Pretium has a proven track record of generating robust, uncorrelated returns by applying its specialized, resident-centric and scalable approach to its large and growing portfolio of homes," said Carole Guérin, Managing Director, Real Estate, PSP Investments. "We can think of no better partner to expand our presence in this increasingly attractive asset class and look forward to working with Pretium to deliver compelling results for our beneficiaries."
About PSP Investments
PSP Investments is one of Canada's largest pension investment managers with approximately $169.8 billion of net assets as of March 31, 2020. It manages a diversified global portfolio of investments in public financial markets, private equity, real estate, infrastructure, natural resources and private debt. Established in 1999, PSP Investments manages net contributions to the pension funds of the federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montreal and offices in New York, London and Hong Kong. For more information, visit investpsp.com or follow PSP Investments on Twitter and LinkedIn.
Pretium is a specialized alternative investment management firm focused on U.S. residential real estate, residential credit, and corporate credit. 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 more than $20 billion of assets under management as of January 26, 2021 and employs approximately 1,600 people across 29 offices. Please visit www.pretium.com for additional information.
For more information, please contact:
Pretium Media Contacts
PSP Media Contact
Verena Garofalo+1 email@example.com
View original content to download multimedia:http://www.prnewswire.com/news-releases/psp-investments-and-pretium-announce-joint-venture-to-invest-in-single-family-rentals-301216872.html
SOURCE Pretium Partners, LLC
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- ProfNet Expert Alerts for April 9, 2021
- MA Vehicle Check Program Vendor Making Good Progress Toward a Return to Motor Vehicle Inspection and Emissions Testing Services
- Kids Protective Swimwear – Skin Cancer Prevention Announced by Infinium Life