Pretium Partnersan investment firm headquartered in New York City, announced Tuesday that it has added a new senior managing director to lead its business optimization efforts.
Sebastiano “Sid” Visentini will join Pretium after a 16-year career with New York City Morgan Stanley. Visentini was most recently head of the investment bank’s Strategy for Execution and Innovation firm. Visentini will lead Pretium Partners’ efforts to improve operational efficiencies and strategic integration initiatives. He will also join the company’s executive committee.
In a statement, Pretium co-chairman Jonathan Pruzan highlighted Visentini’s experience as a valuable addition to the company.
“Given the acceleration of our business and growing investor interest in Pretium’s unique residential real estate ecosystem, we are focused on enhancing operational and strategic opportunities across the business,” said Pruzan. “Sid has deep expertise in driving commercial value through improved efficiency and strategic integration, and I am pleased he brings these skills to Pretium.”
Visentini praised Pretium Partners for its sophistication in managing complex, multi-level businesses.
“Pretium has built an exceptional business, combining advanced investment management with complex, operationally intensive businesses. I am pleased to have the opportunity to join Pretium’s senior leadership team and lead initiatives that drive value through greater operational efficiency, collaboration and strategic growth,” said Visentini.
Visentini started his veteran career as an employee at Credit Suisse. The Boston College graduate then moved to Morgan Stanley, where he held multiple director positions across various departments, including investment banking, capital and corporate strategy. As head of capital at Morgan Stanley, Visentini managed the firm’s end-to-end capital planning and stress testing initiatives. He also served as managing director of Morgan Stanley’s Financial Institutions Group.
Visentini’s hiring isn’t the company’s only big move in 2024. In September, Pretium added two new managers – Brendan Bosman and Karen Kulvin – to strengthen its real estate debt management strategy. The company also announced a strategic partnership with Hunter Point capital to strengthen Pretium’s growth initiatives and investment opportunities.
Pretium Partners’ most significant move for 2024 came when it raised $1 billion for a fund focused on the purchase of so-called built-to-rent (BTR) homes. Pretium confirmed it has also invested more than $2.5 billion in buying and building “purpose-built rental properties” to meet the needs of modern families. The company said it added 7,500 homes in 11 states.
In a recent podcast interview, Pretium CEO Don Mullen said he believes “the single-family rental (SFR) industry can be a bridge not only to help people improve their credit scores, but also to get into a position where we finding a product that helps people make the transition from renter to owner.”
Pretium Partners manages more than $55 billion in assets in nearly 90 markets nationwide. It employs 7,000 people spread over 50 offices worldwide.
