Houlihan Lokey Advises Cascade Financial Services

Houlihan Lokey is pleased to announce that Cascade Financial Services (Cascade), a portfolio company of Centerbridge Partners, has been acquired by Pretium.

Founded in 1999 and based in Chandler, Arizona, Cascade is a specialized lender focused on financing manufactured and modular homes, with a mission to serve the American dream through attainable homeownership. The company offers a broad range of loan programs, including FHA, VA, conventional, and portfolio financing, and works with hundreds of manufactured housing retailers and communities nationwide.

Centerbridge Partners is a private investment management firm employing a flexible approach across investment disciplines—private equity, private credit, and real estate—in an effort to develop the most attractive opportunities for its investors. The firm was founded in 2005 and, as of December 31, 2025, has approximately $46 billion in assets under management with offices in New York and London.

Pretium is a specialized investment firm focused on U.S. residential real estate, residential credit, and corporate credit. Pretium was founded in 2012 and has built an integrated analytical and operational ecosystem within the U.S. housing, residential credit, and corporate credit markets, and believes that its insight and experience in these markets create a strategic advantage. Pretium’s residential credit platform, with $29 billion of assets under management, provides financing to increase the nation’s housing supply and create pathways to homeownership for borrowers who would not otherwise qualify for a traditional, government-backed mortgage. In total, Pretium’s platform has more than $70 billion in assets and employs approximately 7,000 people across more than 45 offices, including its New York headquarters, Miami, London, Abu Dhabi, Bangalore, Seoul, and Sydney.

Houlihan Lokey served as the exclusive financial advisor to Cascade, advising on the marketing, structuring, and negotiation of the transaction. Financial terms of the transaction were not disclosed. With the announcement of this deal, Houlihan Lokey continues to solidify its position as a leading strategic advisor to the residential mortgage industry.