Pretium has announced the closing of its acquisition of Selene Holdings, a Houston-based residential mortgage servicing company.
The investment management firm first announced that it had agreed to buy Selene from funds managed by Oaktree Capital Management and Ranieri Partners in October 2018.
With more than 500 employees, Selene is able to service non-performing, re-performing, REO, and performing home loans in all 50 states.
“Selene’s servicing capabilities complement and continue to expand Pretium’s residential credit ecosystem, and we are excited to welcome Selene to our expanding asset management platform,” said Donald Mullen, founder and CEO of Pretium.
Pretium has appointed Joe Davila to lead the newly acquired company as president and chief executive officer of Selene. Davila previously served as president of servicer solutions at Altisource Portfolio Solutions.
“Joe is a proven executive and we look forward to his leadership and vision, as we seek to create value for Selene’s clients and Pretium’s investors through strong communication and investment in technology and infrastructure,” Mullen said.
The companies did not disclose the terms of the deal.