Pretium Partners raises more than $1b for single-family rental platform

Pretium Partners, a $10 billion specialized alternative asset management firm focused on residential real estate, mortgage finance and corporate credit, has closed Pretium Residential Real Estate Fund II (SFR Fund II).

Total equity capital committed during the fundraising period exceeded $1 billion, including SFR Fund II and targeted commitments from separately managed accounts pursuing SFR strategies. Pretium Residential Real Estate Fund I closed in 2013 and raised $1.18 billion in equity commitments.

“A growing demographic of financially stable young adults, coupled with high barriers for homeownership and limited supply of entry-level housing, has created significant demand for quality single-family rental homes,” said Dana Hamilton, head of real estate at Pretium.

SFR Fund II’s strategy is to provide investors with access to a diverse pool of single-family homes across attractive major markets in the United States that are experiencing above-average em