Pretium, a specialized investment management firm focused on residential real estate, residential credit, and corporate credit with $26 billion in assets, today announced that Sarah Kong, Andrew Miller and Peter Morreale have joined the firm as managing directors.
Based in New York, Kong, Miller, and Morreale bring a diverse mix of skills that will enable Pretium to further develop and broaden its residential credit investing capabilities across sourcing, underwriting, trading, servicing, and originating loans throughout many areas of the U.S. residential lending sector.
"We are pleased to welcome these three uniquely talented and highly proven senior professionals to our team," said Don Mullen, CEO and founder of Pretium. "I'm confident Sarah, Andrew and Peter's extensive expertise and operational experience will enable them to make an immediate impact in terms of enhancing our ability to source compelling opportunities, provide industry-leading levels of service, and expand our firm's strategic footprint in the industry.”
Mullen added the U.S. residential credit space “presents an incredibly attractive opportunity thanks to strong housing market fundamentals, and we look forward to continuing to seize this opportunity for our investors while enabling beneficial outcomes for borrowers and other stakeholders."
Kong joins Pretium's Residential Credit team from Goldman Sachs, where she spent 15 years in the firm's mortgage business. She will be responsible for mortgage whole loan trading at Pretium.
Miller comes to Pretium from Fortress Investment Group, where he spent 12 years building and managing structured mortgage strategies. In his new role, he will be responsible for the buildout of Pretium's Mortgage Servicing Rights investment strategy and expanding the firm's Ginnie Mae Early Buyout investing capabilities.
Morreale joins Pretium from Cadwalader, Wickersham & Taft LLP, bringing over two decades of experience representing issuers, underwriters, and servicers in public and private finance transactions within the residential mortgage, single-family rental, consumer loan, and CLO-asset classes. In his new role, he will assist with the structuring, negotiation, and execution of capital markets transactions across the firm.
For more information on Pretium's hires, click here.
