Alternative Asset Manager Pretium to Acquire Selene Holdings
The transaction is slated to close mid-year 2019.
NEW YORK—Pretium Partners announced it has a contractual commitment to acquire Selene Holdings for an undisclosed sum from funds managed by Oaktree Capital Management, L.P. and Ranieri Partners LLC. As with most transactions, the deal is subject to the appropriate closing conditions and regulatory approvals and is expected to close in mid-2019.
Since 2012, Pretium Partners has had a significant footprint in alternative asset management focusing on corporate credit, real estate, and mortgage finance with over $10B in assets under management.
Founded in 2007, Selene is a Houston-based residential mortgage servicing company with over 500 full-time employees. Selene Finance services nonperforming, re-performing, REO and performing loans nationwide. Selene Holdings also includes SelecTitle, a title services company, and New Diligence Advisors, a national third-party diligence and advisory services firm. Selene is one of only two service providers in the country selected to be a Ginnie Mae Single Family Master Sub-servicer.
Houlihan Lokey served as the financial advisor and Buckley Sandler LLP acted as legal counsel to Selene. Sidley Austin LLP served as legal counsel to Pretium.