New
York
City-headquartered
investment
firm


Pretium
Partners
announced
Wednesday
that
it
has
hired
two
new
managing
directors
as
its
seeks
to
bolster
its

real
estate
debt
strategy.

The
firm
hired
Brendan
Bosman,
a
former
senior
managing
director
and
head
of
U.S.
housing
investing
at

Minneapolis-based

Värde
Partners,
and
Karen
Kulvin,
a
former
senior
managing
director
and
co-head
of
the
real
estate
debt
platform
at

Los
Angeles-based

Kayne
Anderson
Real
Estate.

Bosman
and
Kulvin
each
have
decades
of
experience
in
real
estate
finance
and
“will
strengthen
Pretium’s
investment
team
as
the
firm
continues
to
expand
its
impact
in
the
residential
financial
ecosystem,”
the
company
said
in
its
announcement.

Bosman
spent
more
than
15
years
at
Värde
Partners
and
closed
more
than
$8
billion
in
transactions
across
a
variety
of
real
estate
property
types
and
financing
structures.
He
had
a
particular
focus
on
residential
developers
and

homebuilders.

“I
am
excited
to
contribute
to
Pretium’s
already
impressive
track
record
in
homebuilder
finance,”
Bosman
said
in
a
statement.
“This
is
a
pivotal
moment
in
the
market,
and
I
look
forward
to
helping
Pretium
continue
its
leadership
in
this
space.”

Kulvin
was
with
Kayne
Anderson
for
10
years,
where
she
was
responsible
for
originating,
underwriting
and
managing
more
than
$10
billion
in
loans
and
securities.
She
previously
was
a
founding
partner
and
portfolio
manager
at

Aqua
Investment
Management.

“I
am
thrilled
to
bring
my
decades
of
experience
in
real
estate
finance
to
Pretium
as
the
company
scales
its
efforts
in
real
estate
debt,
and
continues
to
create
value
for
homebuilders,
investors
and
communities,”
Kulvin
said.

Bosman
will
help
to
lead
Pretium’s
investment
activities
in
homebuilder
finance,
which
have
generated
$14
billion
in
originations
since
the
company’s
inception
in
2012.
Kulvin
will
oversee

multifamily
housing
finance
initiatives
and
work
to
grow
the
Pretium
platform
after
it
acquired

BH
Management
Services
—
an
owner
and
operator
of
114,000
housing
units
—
in
May.

“We
are
excited
to
welcome
Brendan
and
Karen
to
Pretium
as
we
expand
our
offerings
in
residential
real
estate
finance,”
President Jonathan
Pruzan
said.
“Growing
demand
for
homes,
coupled
with
persistent
housing
shortages
in
key
markets
across
the
U.S.,
means
that
real
estate
debt
financing
will
be
essential
to
increasing
housing
supply
in
the
years
ahead.
Brendan
and
Karen’s
experience
and
leadership
will
be
instrumental
to
Pretium’s
efforts
in
this
area.”

“The
slowdown
in
lending
stemming
from
disruptions
in
the
regional
banking
system
has
created
significant
consequences
for
homebuilders
and
other
housing
market
participants,”
said Josh
Pristaw,
Pretium’s
head
of
real
estate.
“We
are
helping
to
fill
the
void
by
providing
innovative
and
reliable
financing
solutions
to
homebuilders
and
multifamily
developers
alike.
Brendan
and
Karen’s
expertise
will
help
us
further
scale
those
offerings.”

Pretium
has
more
than
$55
billion
in
assets
under
managements
and
invests
in
real
estate
assets
across
nearly
90
markets
in
the
U.S.
It
employs
about
7,000
people
across
its
50
global
offices.

The
firm
made
headlines
in
February
when

Bloomberg
reported
that
it
had

raised
$1
billion
for
a
new
fund
dedicated
to

built-to-rent
(BTR)
homes.
The
company
said
at
the
time
that
it
had
acquired
more
than
7,500
BTR
homes
in
11
states.

Later
that
month,
Pretium
announced
that
it
had

sold
a
minority
stake
in
the
company
to

Hunter
Point
Capital,
a
strategic
partnership
designed
to
support
Pretium’s
long-term
growth.

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