Announces Pricing for Crown Point CLO 4
Pretium Credit Management LLC, an affiliate of Pretium Partners, LLC
(“Pretium”), a $9.5 billion specialized alternative asset management
firm focused on residential real estate, mortgage finance and credit,
today announced that it has expanded its corporate credit business.
Last week, Pretium reached an agreement to assume management of two CLOs
that are currently managed by NewMark Capital LLC. NewMark Capital
Funding 2013-1 CLO Ltd and NewMark Capital Funding 2014-2 CLO Ltd
currently hold approximately US$750 million in assets.
Pretium Credit Management also announced the pricing of Crown Point CLO
4 in a transaction led by Morgan Stanley. Based on investor demand the
transaction, was upsized from $400 million to $458 million. The CLO will
have a 5-year reinvestment period and a 2-year non-call period with
Pretium Credit Management acting as the Collateral Manager. After the
NewMark assignments and the closing of Crown Point CLO 4, Pretium Credit
Management will manage 5 CLOs containing approximately $1.7 billion of
assets under management.
Donald Mullen, Founder and CEO of Pretium said, “Pretium is committed to
providing our investors with attractive, risk-adjusted investment
opportunities in the loan market. The growth of our platform is a
testament to our focus on this dynamic asset class.”
In 2017, Pretium expanded its credit business with the acquisition of
Valcour Capital Management (recently renamed Pretium Credit Management,
LLC) and appointment of Jerry Ouderkirk as Head of Structured Credit.
Mr. Ouderkirk joined Pretium from Goldman Sachs & Co., where he was a
Partner and co-Head of Structured Credit Trading.
ABOUT PRETIUM PARTNERS
Founded in 2012, Pretium Partners, is a leading alternative asset
management firm focused on residential real estate, mortgage finance and
credit. The firm seeks to capitalize on investment and lending
opportunities arising because of structural changes within the economy,
the U.S. housing sector and the mortgage finance market. For more
information, please visit http://pretiumpartnersllc.com/.
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