Pretium Partners locks in $1.5b for latest single-family rental fund
New York–based Pretium Partners has secured more than $1.5 billion for its Pretium Single-Family Rental Fund III, according to a recent filing with the SEC.
The fund’s strategy is to focus on single-family homes in major U.S. markets that are experiencing above-average employment and population growth.
According to the filing, 37 investors backed the fund, which opened in 2019.
The fund’s predecessor, Pretium Residential Real Estate Fund II, closed in 2018 with more than $1 billion. Pretium Residential Real Estate Fund I closed in 2013 and raised $1.18 billion in equity commitments.
Pretium Partners is a specialized alternative asset management firm focused on real estate, mortgage finance and corporate credit. The firm has $25.5 billion in assets under management.