Pretium, an investment manager with $59.5 billion in assets under management as of Dec. 31, 2024, is planning its first fund to acquire single-family homes to be leased at affordable rents, according to a Bloomberg report.
The strategy reportedly involves purchasing properties that need deep renovations and then renting them through the Section 8 Housing Choice Voucher program.
Out of its total AUM, $34.9 billion is real estate, $21.5 billion is residential credit, and $3.1 billion is corporate credit. CEO Don Mullen was a former partner at Goldman Sachs who left in 2012 to launch Pretium.
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