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Pretium Partners Acquires Selene Holdings from Oaktree Capital, Ranieri Partners.

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MANews-(C)2009-2018

18 October 2018 - New York, US-based investment management firm Pretium Partners, LLC has entered into a definitive agreement to acquire Texas, US-based residential mortgage provider Selene Holdings LLC from funds managed by Oaktree Capital Management, L.P. and Ranieri Partners LLC, the company said.

Terms of the transaction were not disclosed. The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close mid-year 2019.

Pretium said it will invest in Selene's technology and platform and work closely with management to best serve Pretium's investors and Selene's clients.

Pretium is focussed on real estate, mortgage finance and corporate credit with over USD 10bn in assets under management.

The firm seeks to capitalise on investment and lending opportunities arising as a result of structural changes within the economy, the US housing sector and the mortgage finance market.

Selene is the parent company of Selene Finance LP. Selene Finance is a special servicer of nonperforming, re-performing, REO and performing loans and is able to service in all 50 states.

The company...

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