Position/ Title: Associate, Strategic Development
Pretium is a specialized alternative investment management firm focused on U.S. residential real estate, residential credit, and corporate credit. Pretium was founded in 2012 to capitalize on secular investment and lending opportunities arising as a result of structural changes, disruptions, and inefficiencies within the economy. Pretium has built an integrated analytical and operational ecosystem within the U.S. housing, residential credit, and corporate credit markets, and believes that its insight and experience within these markets create a strategic advantage over other investment managers.
The Firm currently manages over $20 billion of AUM across Single-Family Rentals ($13 billion), Mortgage Credit (~$4 billion), and Structured and Corporate Credit (~$3 billion). Pretium also has several integrated operating platforms, including Progress Residential (SFR operator / property manager), Deephaven Mortgage (mortgage originator) and Selene (mortgage servicer).
Pretium’s Strategic Development team leads the origination and execution of key firm-wide initiatives including mergers and acquisitions (M&A), growth equity raises, strategic partnerships, and fund optimization. We are seeking a highly motivated Associate to be involved in all aspects of driving strategy and principal investments, as a generalist across Pretium businesses and its various operating platforms.
This is a career-track opportunity that will report to the Head of Strategic Development and is based in Pretium’s New York City headquarters.
- Evaluate and execute principal strategic investments / M&A
- Maintain regular dialogue with target companies’ management teams and advisors
- Drive full life cycle of transactions, including idea generation, sourcing, valuation, due diligence, execution and integration
- Work closely with Firm investment strategies and operating company management teams to optimize execution
- Evaluate platform expansion and growth opportunities
- Develop business strategies and structures to maximize value creation
- Identify and extensively research industries and investment opportunities
- Must have at least 2+ years of experience in investment banking, management consulting, transaction advisory or private equity (FIG, M&A and buy-side experience is a plus)
- Excellent interpersonal and communication skills; ability to develop and maintain effective business relationships with leadership and management teams
- Strong financial modeling and writing skills
- Highly proactive and strong work ethic
- Robust interest in long-term value creation and continued management of investments
Sample Transactions Led and Closed by the Strategic Development Team
- 2021: Take-private of SFR operator, Front Yard Residential (NYSE: RESI) (link)
- 2020: Strategic partnership with public insurance company, American Equity Life (NYSE: AEL), consisting of both asset investment capital and growth equity (link)
- 2020: Acquisition of distressed credit investment platform, Latigo Partners (link)
- 2019: Strategic exit for Pretium’s 1st SFR fund (link)
- 2019: Acquisition of mortgage special servicer, Selene Holdings (link)
- 2019: Acquisition of mortgage originator, Deephaven Mortgage (link)
What We Offer
This position offers the opportunity to join a collegial, entrepreneurial firm committed to the personal and professional growth of its team members and to maintaining a positive, encouraging work environment. The company offers a comprehensive benefits package, including:
- Competitive base salary and bonus
- 401(k) plan with employer match
- Health insurance with significant employer contribution
- Paid Time Off (PTO) program
- Employee incentive compensation program