Pretium, a specialized investment firm with approximately $50 billion in assets under management, today announced that Frank Garcia has joined the firm as Managing Director and Head of Fund Portfolio Management for Pretium’s real estate platform, effective October 17, 2022. In this role, Mr. Garcia will spearhead portfolio management for Pretium’s single-family rental (SFR) fund strategy while engaging and informing the firm’s global client relationships.
Mr. Garcia brings over three decades of experience managing portfolios across multiple U.S. real estate asset classes and investment products, including core, value-added and ground-up development. He most recently spent nearly 10 years as Senior Portfolio Manager of PGIM Real Estate’s flagship U.S. core equity fund, where he led the development and implementation of portfolio-level strategy and improved operations, while driving enhanced financial performance and asset value across market cycles. Mr. Garcia implemented numerous fund-level ESG initiatives, resulting in index-leading scores from GRESB, the benchmark for ESG measurement in the real estate community. At PGIM, he also was involved in firm-level DEI initiatives focused on recruitment and retention of diverse talent. Prior to PGIM Real Estate, Mr. Garcia spent 12 years at Deutsche Bank/RREEF, where he was a portfolio manager on the firm’s core fund and a senior portfolio manager of its U.S. value-added commingled fund between 2001 and 2013. Mr. Garcia began his career at CBRE and public REIT manager, Spieker Properties.
“Frank is deeply respected by his clients and brings substantial portfolio management expertise on a national scale to our industry-leading SFR platform,” said Don Mullen, Founder and CEO of Pretium. “As we continue to strategically grow our real estate investment platform, we are also thoughtfully enhancing the ways in which we manage and optimize our portfolios. Having the right team in place is essential for continued success and to create lasting value for our investors and all our stakeholders.”
“We are confident Frank’s extensive experience developing and implementing core and value-added portfolio-level strategies will be an asset to our real estate team and a meaningful differentiator for our clients,” said Josh Pristaw, Co-Head of Real Estate at Pretium. “We look forward to working closely with Frank to further expand our investment management capabilities and scale our real estate platform while delivering compelling returns to our investors.”
“I am thrilled to join and work with the talented, entrepreneurial Pretium team,” said Mr. Garcia. “I look forward to leveraging my experience to further institutionalize portfolio management, generate consistent value for existing clients and play a significant role in augmenting the firm’s visionary leadership in the single-family rental investment landscape.”
Pretium is a specialized investment 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. Pretium’s platform has approximately $50 billion of assets and employs more than 4,000 people across 30 offices, including London and Dubai. Please visit www.pretium.com for additional information.
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