Hunter Point Capital Takes Minority Stake in Pretium

Pretium plans to further expand into developing communities and continue acquisitions of single-family rentals across the U.S.

Pretium breaks ground on Harmon Ballantyne, a multifamily project, alongside joint venture partner Crescent Communities, in Charlotte, N.C., in 2022. Image courtesy of Pretium

Hunter Point Capital has acquired a minority stake in Pretium. The size of the interest acquired by HPC could not immediately be learned.

Jonathan Pruzan, president of Pretium, said in prepared remarks that the investment will advance the firm’s growth initiatives and help it capitalize on opportunities in the residential and credit markets. Pruzan also noted that the continuing undersupply of homes, along with the disruption in the banking landscape, should mean significant investment potential in the future.

The partnership is expected to allow Pretium to further its current strategies within the residential real estate, and corporate and structured credit markets, while also letting it expand into adjacent areas, Don Mullen, founder & CEO of Pretium, said in the same statement.

Rapidly growing SFR portfolio

HPC had previously invested in other middle-market alternative managers, including a strategic investment in Iron Park Capital in January 2022. More recently, the firm made a minority investment in Inflexion to support its growth in April 2023.

As for Pretium, the latest HPC minority investment will help expand its presence in several sectors, including residential mortgage loans, developing communities and acquiring single-family homes across the U.S. The investment firm was founded in 2012 and has since developed a portfolio with more than $50 billion in assets under management across 30 markets. In October 2022, Pretium partnered with Crescent Communities to break ground on two build-to-rent communities totaling 136 units in Charlotte, N.C.

Pretium is also heavily investing in the single-family home sector, partnering with other firms to expand its footprint. In January 2021, the firm partnered with PSP Investments to form a $700 million joint venture that will invest in SFR communities across the southeastern and southwestern U.S. Prior to that, Pretium partnered with Ares Management Corp. to acquire Front Yard Residential Corp. for $2.5 billion, adding 14,500 single-family rentals to its portfolio.

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