Pretium Partners
Private equity firm that owns Progress Residential through its investment funds
- Entries
- 10
- On the record
- 3
- Stories
- 1
- Latest entry
- Nov 7, 2026
The record
Pretium Partners is an investment firm founded in 2012 by Don Mullen, who is still its founder and chief executive. It reported $70 billion in total assets under management as of June 30, 2026, spread across real estate equity, real estate debt, residential credit and corporate and structured credit. Its operating companies include Progress Residential, the single-family landlord that the Federal Trade Commission says Pretium founded and wholly owns, along with Anchor Loans, BH Management Services, Deephaven and Selene.
Much of the firm's growth came through acquisitions. In January 2021 Pretium and funds managed by Ares Management completed the take-private of Front Yard Residential, which their release said made Pretium the second-largest owner and operator of U.S. single-family rentals, with more than 55,000 homes. In 2024 it agreed to buy BH Management Services, a Des Moines property manager, without disclosing terms. By November 2026 the FTC put the Progress portfolio at over 90,000 homes in 17 states.
Outside the deal filings, its public record is mostly about tenants. A 2022 House Select Subcommittee staff report counted 6,264 eviction actions filed by Pretium from March 2020 through July 2021 and called its practices concerning even if not unlawful; Pretium said it had always complied with the CDC moratorium. Minnesota's attorney general settled a habitability suit against HavenBrook Homes and Progress in March 2024. In November 2026 the FTC and four states filed a $49.75 million settlement with Progress and Pretium in federal court in Atlanta; Progress did not admit wrongdoing.
Roles and honours on the record
- 2012-present Specialized investment firm founded in 2012 by Don Mullen, its founder and CEO source
- as of 2026 Manager of $70 billion in total assets as of June 30, 2026 source
- as of 2026 Founder and sole owner of Progress Residential, which manages over 90,000 homes across 17 states source
- 2021 Manager of the venture with Ares Management funds that took Front Yard Residential private source
- as of 2026 Parent of operating companies Anchor Loans, BH Management Services, Deephaven, Progress and Selene source
Every entry, newest first
- Filed
FTC says Pretium, Progress's owner, would pay with Progress under the proposed $49.75M settlement. Progress Residential and Pretium to pay $49.75M in FTC case
Stories in this file
The record, entry by entry
- 2021-01-11 Official Pretium, Ares Management and Front Yard Residential announced the completion of what they called the first take-private of a single-family rental company, leaving Pretium with over 55,000 rental homes and the second-largest such portfolio in the U.S. Front Yard Residential Form 8-K, Exhibit 99.1 press release (SEC EDGAR)
- 2022-02 Filed Minnesota's attorney general sued HavenBrook Homes over more than 600 rental homes it allegedly under-maintained; Progress Residential was added as a defendant in August 2022 after it acquired HavenBrook, FOX 9 reported. FOX 9 Minneapolis report
- 2022-07-28 Official The House Select Subcommittee on the Coronavirus Crisis released a staff report on pandemic evictions by four corporate landlords, including Pretium through Progress Residential and Front Yard Residential. It said Pretium's policies put tenants into its eviction filing process once they fell as little as $500 to $1,000 behind on rent. House Select Subcommittee on the Coronavirus Crisis press release
- 2022-07-28 Reported Responding to the report, Pretium said in a statement that it had always complied with the CDC moratorium and had voluntarily extended it in some cases, NPR reported. NPR report via WABE
- 2024-02-29 Official Pretium announced an agreement to acquire BH Management Services, a Des Moines property manager, describing itself as having more than $50 billion in assets under management. The price was not disclosed. Pretium press release
- 2024-03-15 Reported The Minnesota case settled: HavenBrook agreed to pay $2.2 million into a restitution fund, HavenBrook and Progress agreed to forgive former tenants' rental debt up to just under $2 million, and Pretium and Progress planned to transfer their properties to affordable-housing entities, FOX 9 reported. FOX 9 Minneapolis report
- 2026-11-06 Filed The FTC and the states of Arizona, Colorado, Indiana and Utah filed a complaint against Progress Residential LLC and Pretium Partners, LLC in the Northern District of Georgia, together with a proposed stipulated order. FTC case page, No. 1:26-cv-06782-VMC
- 2026-11-06 Official The FTC, on a 2-0 vote, announced that the companies would pay $49.75 million under the proposed order, $48.5 million to the FTC for consumer redress and $1.25 million to Arizona, and that Progress must advertise the true total monthly rental price, including all mandatory recurring fees. FTC press release
- 2026-11-07 Reported Progress did not admit to any wrongdoing as part of the settlement and said its practices have been transparent, fair and consistent with industry practice, Reuters reported. Reuters report via Devdiscourse
Documents
- Complaint, FTC et al. v. Progress Residential LLC and Pretium Partners, LLC, N.D. Ga. No. 1:26-cv-06782 (Nov. 6, 2026)
- Proposed stipulated order for permanent injunction and monetary judgment (2026)
- FTC case page, Progress Residential LLC, matter 2423073
- House Select Subcommittee staff report, Examining Pandemic Evictions (2022)
- Front Yard Residential Form 8-K, Exhibit 99.1, completion of the Pretium and Ares take-private (2021)