Pretium, an investment management firm focused on real estate, residential credit and corporate credit with more than $26bn in assets, has established its first Middle East office in Dubai, led by recently recruited managing director Jamal Saab.
He was previously managing director and head of Middle East at PineBridge Investments and from 2004 to 2013, he was managing managing director Head of MENA & CEA at Natixis Global Asset Management. He was also executive director at Citco Group.
Don Mullen, CEO and Founder of Pretium, said: "We are excited to welcome Jamal to the team, and I am proud he will be representing Pretium in the Middle East. Establishing our presence in the Middle East reinforces our commitment to regional clients during a time of impressive strategic growth for the firm."
Saab said: "I am honored to take on this role and oversee the establishment of our regional headquarters and growth of Pretium in the Middle East. Pretium has an impressive team and infrastructure to deliver innovative investment opportunities and solutions. With greater proximity and local relationships, we can better serve institutional investors and further contribute to the economic growth of the region."
Pretium's expansion into the Middle East follows several strategic initiatives that have grown the firm's footprint across geographies and broadened its capabilities.
The firm highlighted that it recently announced a Joint Venture with a large Canadian pension plan as well as a partnership with Trans-Canada Capital Inc., an institutional asset manager that oversees more than C$30bn in assets for a range of institutions including Air Canada's pension, to help each firm achieve their investment goals through differentiated real estate and corporate and structured credit strategies, respectively.
It also added three managing directors to its residential credit segment in August 2021.
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.
It has built an integrated analytical and operational ecosystem within the US housing, residential credit, and corporate credit markets.
Pretium's platform has approximately $26bn of assets under management as of June 30, 2021 and employs approximately 2,500 people across 29 offices.
