Pretium Partners Expands Credit Management Business with Acquisition of NewMark Capital Assets
13 Februar 2018 - 6:49PM
Business Wire
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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Media RelationsGasthalter & Co.Jonathan Gasthalter,
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