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Pretium Partners
Pretium Partners is an alternative investment manager focused on residential real estate, residential credit, real estate debt, and corporate and structured...
Overview
Pretium Partners is an alternative investment manager focused on residential real estate, residential credit, real estate debt, and corporate and structured credit. As of June 30, 2026, the firm reported approximately $70 billion in assets under management across these strategies. Don Mullen, Founder and CEO, sets the firm's strategic and investment direction. Co-Presidents Jon Pruzan and Stephen Scherr work alongside him. Pruzan joined as President in September 2023 after serving as COO and CFO of Morgan Stanley. Scherr, formerly CFO of Goldman Sachs, joined Pretium as Co-President in October 2024.
General information
Firm type
Asset Manager
Year founded
2012
AUM
Approximately $70 billion AUM (Pretium, June 30, 2026)
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Principals
Don Mullen
Founder and CEO
Jon Pruzan
Co-President
Stephen Scherr
Co-President
Sector focus
Frequently asked questions
Who runs investment decisions at Pretium Partners?
Don Mullen, Founder and CEO, sets the firm’s strategic and investment direction. He is joined by Co-Presidents Jon Pruzan (former COO and CFO of Morgan Stanley, who joined Pretium in 2023) and Stephen Scherr (former CFO of Goldman Sachs, who joined in 2024). Pruzan joined as President in September 2023; Pretium announced Scherr’s appointment alongside Co-President Pruzan on October 7, 2024.
How does Pretium source its single-family homes?
Pretium acquires homes through multiple channels: bulk purchases of distressed mortgage pools from banks and government-sponsored enterprises, open-market purchases via its in-house acquisition engine, and build-to-rent partnerships with homebuilders. This multi-channel approach allows the firm to scale without relying exclusively on any single source of supply.
Is Pretium a firm that manages money for a single family or an asset manager?
Pretium is an institutional asset manager, not a family office. Don Mullen founded the firm after his career at Goldman Sachs, and it raises capital from public pensions, sovereign wealth funds, endowments, and insurance companies. There is no single-family wealth origin behind the firm.
What is Pretium's relationship with Progress Residential?
Progress Residential is Pretium's wholly owned, in-house property management company. Rather than hiring local property managers across dozens of markets, Pretium built an integrated operating platform that handles leasing, maintenance, and tenant relations directly. This vertical integration generates proprietary data that feeds back into the firm's acquisition algorithms.
Does Pretium invest outside of residential real estate?
Yes. While residential real estate is the signature platform, Pretium also manages a residential credit strategy that acquires performing and non-performing mortgage loans. A corporate credit and structured products business targets asset-backed lending, specialty finance, and bespoke financing solutions for mid-market companies. The credit platform operates with a distinct team and investment process.
Which US markets does Pretium concentrate its home portfolio in?
Pretium concentrates on Sun Belt metros with strong population and job growth, including Phoenix, Atlanta, Dallas, Tampa, Charlotte, and Houston. These markets combine favorable landlord regulatory environments with migration and employment tailwinds that support rental demand and home price appreciation over full cycles.
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