Stephen M. Scherr Joins Pretium as Co-President To Partner with Jonathan Pruzan in Driving Next Phase of Firm's Growth

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Oct 07, 2024, 11:15 ET

NEW YORK, Oct. 7, 2024 /PRNewswire/ -- Pretium, a specialized investment firm with more than $55 billion in assets under management, today announced the appointment of Stephen M. Scherr as Co-President, effective immediately. In this role, Scherr will work in partnership with Co-President Jonathan Pruzan in overseeing Pretium's strategic and operational initiatives. Scherr is also joining the firm's Executive Committee and Board of Directors.

"I am thrilled to welcome Stephen to Pretium," said Founder and CEO Don Mullen. "Having known Stephen for more than 25 years, both as a colleague at Goldman Sachs and as a friend, I appreciate his deep intellect and integrity, and his exceptional ability to drive commercial results. Stephen's expertise in running businesses in financial services and consumer-facing sectors will be a tremendous asset to Pretium as we leverage our distinctive position as both an investment firm and operator of complex, vertically integrated businesses."

"I am delighted to be joined by Stephen, a friend and colleague of over 20 years," said Mr. Pruzan. "Stephen and I worked together when we were CFOs and although we have many shared experiences, we will bring different perspectives and insights to drive the next phase of Pretium's growth. Stephen will be a great partner as we continue to capitalize on the enormous opportunities ahead."

Scherr brings over 30 years of experience leading high-performing teams, including nearly three decades at Goldman Sachs, where he served as Chief Financial Officer from 2018 through 2021. During his tenure at Goldman Sachs, he led several of the firm's most important businesses and initiatives while serving as Chief Strategy Officer and as a long-standing member of the firm's Management Committee. Stephen joins Pretium after two years as Chair and CEO of the Hertz Corporation.

"I have admired the success of Pretium since its founding in 2012, and I cannot think of a place that brings a more dynamic, forward-thinking approach to investing capital," said Mr. Scherr. "Don has built an exceptional business and the opportunities to extend the Pretium platform are considerable. I look forward to leveraging my expertise across a diverse range of businesses and partnering with Jon Pruzan, whom I have known personally and professionally for decades, to scale Pretium's platform and explore new avenues for strategic growth."

"Stephen and Jon will be a formidable pairing to lead Pretium with me," Mullen added. "In a little more than a year, Jon has already put his signature on the firm by advancing our strategic partnerships and driving growth. The combination of these two talented leaders signals an extraordinary moment in the evolution of Pretium as we take advantage of outstanding opportunities to grow and to serve our clients."

Scherr holds a J.D. from Harvard Law School and an A.B. from the Woodrow Wilson School of Public and International Affairs at Princeton University. He also serves on the boards of the Jewish Museum and the New York Stem Cell Foundation and is a member of the Council on Foreign Relations.

About Pretium

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 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 more than $55 billion of assets, comprising real estate investments across nearly 90 markets in the U.S., and employs approximately 7,000 people across 50 offices, including its New York headquarters, Miami, London, Seoul, and Sydney. Please visit www.pretium.com for additional information.

Contact
Liz Bowyer
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SOURCE Pretium