Stephen M. Scherr Joins Pretium as Co-President
Pretium, a specialized investment firm managing over $55 billion in assets, has announced the appointment of Stephen M. Scherr as Co-President, effective immediately. In this new role, Scherr will collaborate closely with another Co-President, Jonathan Pruzan, to oversee the firm’s strategic and operational initiatives. This partnership marks an important milestone for Pretium as it continues to navigate the complexities of the investment landscape.
Remarkable Leadership Expected
Founder and CEO Don Mullen expressed his excitement about Scherr's addition to the team. Having known him for more than 25 years through various interactions at Goldman Sachs, Mullen highlighted Scherr's deep intellect, integrity, and a remarkable track record in producing commercial results. Mullen believes Scherr's expertise, particularly in financial services and consumer-facing sectors, will significantly enhance Pretium’s capabilities.
Shared History and Future Goals
Jonathan Pruzan shared his enthusiasm for partnering with Scherr, emphasizing their long-standing relationship which began over two decades ago during their respective tenures as CFOs. Pruzan remarked on the richness of their shared experiences and how they plan to bring diverse perspectives to the firm, aiming to drive the next phase of Pretium’s growth.
Stephen Scherr: A Proven Track Record
Stephen Scherr comes to Pretium with over 30 years of extensive experience, notably from Goldman Sachs, where he served as Chief Financial Officer from 2018 to 2021. Throughout his career at Goldman Sachs, he played a pivotal role in various significant businesses and initiatives, demonstrating his ability to lead high-performing teams. Most recently, Scherr was Chair and CEO of the Hertz Corporation, adding to his impressive portfolio.
A Vision for Investment and Growth
Upon joining Pretium, Scherr expressed admiration for the firm’s innovative approach to capital investment. He acknowledged the immense potential to expand the firm's operations and capitalize on emerging investment opportunities. Scherr highlighted the importance of applying his expertise to foster growth within the distinctive platforms at Pretium.
Leadership Trio's Complementing Strengths
Mullen remarked on the formidable pairing of Scherr and Pruzan as an influential leadership team for Pretium. Pruzan's impactful contributions have already redefined the firm in just over a year. Together, these leaders symbolize a significant advancement in Pretium's journey, focusing on outstanding growth and enhanced client services.
About Pretium
Pretium specializes in U.S. residential real estate, residential credit, and corporate credit market investments. Founded in 2012, the firm has strategically positioned itself to take advantage of investment opportunities arising from economic shifts, disruptions, and market inefficiencies. The integrated analytical and operational framework developed by Pretium provides a unique advantage in the housing, residential credit, and corporate credit markets, enabling them to manage over $55 billion in assets.
Global Presence and Impact
With nearly 7,000 employees across 50 offices worldwide, including a headquarters in New York and other major cities like Miami, London, Seoul, and Sydney, Pretium is equipped to offer expansive support for its diverse portfolio. The firm’s commitment to understanding market nuances allows for targeted investment strategies to maximize returns and enhance operational efficiencies.
Frequently Asked Questions
What is the role of Stephen M. Scherr at Pretium?
Stephen M. Scherr is appointed as Co-President, working alongside Jonathan Pruzan to advance Pretium's strategic initiatives.
What is Pretium known for?
Pretium is recognized as a specialized investment firm that focuses on U.S. residential real estate, residential credit, and corporate credit.
How does Pretium position itself in the market?
Pretium leverages an integrated analytical and operational ecosystem to create strategic advantages in the investment landscape.
What previous experience does Stephen Scherr bring?
Scherr brings over 30 years of leadership experience from Goldman Sachs and served as Chair and CEO of Hertz Corporation.
Where are Pretium's offices located?
Pretium operates in about 50 offices globally, including locations in New York, Miami, London, Seoul, and Sydney.
