Pretium adds to Senior Investment Team

Pretium, a specialised investment management firm focused on housing and credit with more than USD20 billion in assets, has appointed Matt Johnston and Kyle Mitts as Managing Directors on its Real Estate and Strategic Development teams, respectively.

Johnston and Mitt’s appointments build on Pretium’s continued efforts to expand its single-family rental and build-to-rent capabilities and will help to further enhance the firm’s position as a leading investor and operator. Their hirings follow several significant transactions that Pretium has recently executed in the single-family rental space, including its USD2.5 billion acquisition of Front Yard Residential, which was the industry’s first public-to-private deal.

“We are pleased to welcome these two seasoned real estate investment professionals to our team,” says Don Mullen, CEO of Pretium. “Their extensive experience and expertise in helping to grow investment platforms and source potential acquisitions will be beneficial as we look to evolve our operations and continue delivering compelling returns for our investors.”

Based in New York, Matt Johnston joins Pretium’s Real Estate team from Elliott Management Corporation where he was a senior member of their US Real Estate team. He brings to the firm 20 years of experience in sourcing, acquiring, managing and monetising investments. In his new role, he will focus on a broad range of new investments, including the oversight of build-to-rent opportunities.

“Pretium has long been known as a market leader in the single-family rental space, and I look forward to helping to strengthen the firm’s position in this area and also strategically expand its resident-centric approach to the build-to-rent sector,” says Johnston.

Based in Dallas, Mitts joins Pretium’s Strategic Development team from Lone Star Funds and Paceline Equity Partners. He brings to the firm a decade of experience in real estate private equity and will focus on executing firm-wide strategic initiatives and overseeing the acquisition of single-family rental platforms and portfolios.

“It is a privilege to join the Pretium team during this period of strategic growth, and I am excited to help build on the firm’s strong success by executing value-additive tactical initiatives for the single-family rental business,” says Mitts.