Pretium Adds Residential Credit Expertise with Three Executive Hires
- Wall Street slides, ending seesaw week in a risk-off mood
- Invesco (IVZ) Reportedly in Talks to Merge With State Street's (STT) Asset Management Business, Citi Sees More Cons than Pros
- FDA Votes "No" on Pfizer (PFE) Booster for 16+ Age Group, 2 Yes 16 No
- Jefferies Raises Price Targets on Alphabet (GOOGL) and Facebook (FB) as They Are Still Inexpensive Relative to Growth, Reiterates Snap (SNAP) as a Best Growth Idea
- Tesla (TSLA) Could Deliver 900K EV Units This Year and 1.3M in 2022 - Wedbush
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
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 joined the firm as Managing Directors.
Based in New York, Ms. Kong, Mr. Miller and Mr. Morreale bring a diverse mix of skillsets that will enable Pretium to further develop and broaden its residential credit investing capabilities across sourcing, underwriting, trading, servicing and originating loans throughout many areas of the U.S. residential lending sector.
"We are pleased to welcome these three uniquely talented and highly proven senior professionals to our team," said Don Mullen, CEO and Founder of Pretium. "I'm confident Sarah, Andrew and Peter's extensive expertise and operational experience will enable them to make an immediate impact in terms of enhancing our ability to source compelling opportunities, provide industry-leading levels of service, and expand our firm's strategic footprint in the industry. The U.S. residential credit space currently presents an incredibly attractive opportunity thanks to strong housing market fundamentals, and we look forward to continuing to seize this opportunity for our investors while enabling beneficial outcomes for borrowers and other stakeholders."
Ms. Kong joins Pretium's Residential Credit team from Goldman Sachs where she spent 15 years in the firm's mortgage business. She will be responsible for mortgage whole loan trading at Pretium.
Mr. Miller comes to Pretium from Fortress Investment Group where he spent 12 years building and managing structured mortgage strategies. In his new role, he will be responsible for the buildout of Pretium's Mortgage Servicing Rights investment strategy and the expansion of the firm's Ginnie Mae Early Buyout investing capabilities.
Mr. Morreale joins Pretium from Cadwalader, Wickersham & Taft LLP, bringing over two decades of experience representing issuers, underwriters, and servicers in connection with public and private finance transactions within the residential mortgage, single-family rental, consumer loan, and CLO asset classes. In his new role, Mr. Morreale will assist with the structuring, negotiation, and execution of capital markets transactions across the firm.
About PretiumPretium 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 approximately $26 billion of assets under management as of June 30, 2021 and employs approximately 2,500 people across 29 offices. Please visit www.pretium.com for additional information.
View original content to download multimedia:https://www.prnewswire.com/news-releases/pretium-adds-residential-credit-expertise-with-three-executive-hires-301345776.html
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- U.S.I.T.C Institutes Unfair Competition Investigation of Imported Flocked Swabs and Kits
- InvestorNewsBreaks – RYAH Group Inc. (CSE: RYAH) Leveraging IoT Devices, AI Analytics to Provide Innovative Plant-Based Treatments
- Axios Names Sara Kehaulani Goo as Editor in Chief
Create E-mail Alert Related CategoriesPRNewswire, Press Releases
Related EntitiesGoldman Sachs
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!