Former PGIM executive Frank Garcia will spearhead portfolio management for Pretium’s single-family rental (SFR) fund strategy while engaging and informing the firm’s global client relationships.
Garcia joins officially on Oct. 17 as managing director and head of fund portfolio management.
“Frank is deeply respected by his clients and brings substantial portfolio management expertise on a national scale to our industry-leading SFR platform,” said Don Mullen, founder and CEO of Pretium, which has $50 billion in assets across U.S. residential real estate, residential credit and corporate credit.
“As we continue to strategically grow our real estate investment platform, we are also thoughtfully enhancing the ways in which we manage and optimize our portfolios,” Mullen added in a statement. “Having the right team in place is essential for continued success and to create lasting value for our investors and all our stakeholders.”
Previously, Garcia spent nearly a decade at PGIM Real Estate, where he was the senior portfolio manager for the firm’s flagship U.S. core equity fund. At PGIM, he led the development and implementation of portfolio-level strategy and improved operations, in addition to delivering financial performance and asset value across market cycles.
Garcia implemented numerous fund-level ESG initiatives, resulting in index-leading scores from GRESB, the benchmark for ESG measurement in the real estate community. At PGIM, he also was involved in firm-level DEI initiatives focused on recruitment and retention of diverse talent. Prior to PGIM Real Estate, he spent 12 years at Deutsche Bank/RREEF, where he was a portfolio manager on the firm’s core fund and a senior portfolio manager of its U.S. value-added commingled fund between 2001 and 2013. Garcia began his career at CBRE and public REIT manager, Spieker Properties.
“I am thrilled to join and work with the talented, entrepreneurial Pretium team,” said Garcia. “I look forward to leveraging my experience to further institutionalize portfolio management, generate consistent value for existing clients and play a significant role in augmenting the firm’s visionary leadership in the single-family rental investment landscape.”
