Top Real Estate Private Equity Firms

I'm familiar with the PERE 50 firms on the surface, but wanted more detailed information on comp (analyst and associate level), lifestyle and reputation for the top 10 or so firms. Anyone have any intel?

Here's the list for reference (2014 Ranking / GP / Capital Raised Last Five Years / 2013 Ranking):

1 The Blackstone Group $32.129 1
2 Lone Star Funds $12.500 3
3 Starwood Capital Group $8.661 2
4 Colony Capital $7.454 4
5 Brookfield Asset Management $6.928 9
6 Tishman Speyer $5.757 6
7 Angelo, Gordon & Co $4.606 15
8 Westbrook Partners $4.532 13
9 Oaktree Capital Mangement $4.496 21
10 Global Logistic Properties $4.400 –
11 Walton Street Capital $4.189 23
12 GI Partners $3.524 38
13 Orion Capital Managers $3.523 29
14 The Carlyle Group $3.434 7
15 Fortress Investment Group $3.159 19
16 TA Associates Realty $3.055 20
17 CapitaLand $2.895 18
18 Cerberus Capital Management $2.650 39
19 LaSalle Investment Management $2.557 5
20 Beacon Capital Partners $2.541 28
21 Hines $2.471 37
22 Northwood Investors $2.381 24
23 Rockpoint Group $2.330 34
24 Prudential Real Estate Investors $2.315 16
25 GTIS Partners $2.287 40
26 Ares Management (fka AREA Property Partners) $2.214 14
27 KSL Capital Partners $2.211 32
28 Secured Capital $2.207 61
29 Rialto Capital Management $2.130 –
30 DRA Advisors $2.100 31
31 Merlone Geier Partners $1.879 –
32 Paramount Group $1.853 –
33 CBRE Global Investors $1.809 12
34 Perella Weinberg Partners $1.747 25
35 Hemisferio Sul Investimentos $1.700 36
36 Alpha Investment Partners $1.653 30
37 Gaw Capital Partners $1.628 84
38 Harrison Street Real Estate Capital $1.602 46
39 Kayne Anderson Capital Advisors $1.601 48
40 Phoenix Property Investors $1.562 68
41 Kildare Partners $1.500 –
42 DivcoWest $1.493 75
43 Patron Capital $1.407 60
44 Mapletree Investments $1.400 59
45 GreenOak Real Estate $1.398 –
46 Heitman $1.351 89
47 GE Capital Real Estate $1.348 47
48 The JBG Companies $1.329 53
49 Related Companies $1.325 54
50 Tristan Capital Partners $1.300

Specific info on Blackstone, Lone Star, Colony, Starwood, Ares/AREA, Carlyle and Oaktree would be helpful.

Much appreciated.

 
Best Response

MSREI: You will spend your time working half on opportunistic REPE and half on core. Great shop, second only to BX in opportunistic REPE. Wrecked in crisis, new fund still raised quite a few billion. Overall still a great REPE megafund.

BX: 40% IRR gross of fees on all REPE funds... Abso-fucking-lutely legends. Buffet probably could have gotten these returns if he levered up to 70% on all of his buyouts.

Most other megafunds have some allocation to REPE but some are more corporate based (KKR).

Best way to break in is through REIB or another REPE shop.

Pennies from JcPenny
 
jcpenny:

BX: 40% IRR gross of fees on all REPE funds...

BX's funds average 17% net IRR. The last four funds: BREP IV - 14% BREP V - 10% BREP VI - 13% BREP VII - 28%
Robert Clayton Dean: What is happening? Brill: I blew up the building. Robert Clayton Dean: Why? Brill: Because you made a phone call.
 

Is there anyone that can comment on the interview process? Typical questions (e.g., technical or macro perspectives on market) or are they worried more about general fit

Fill the unforgiving minute with 60 seconds of run. - Kipling
 
briMI1989:

Anyone heard of Westport Capital Partners? Any advice?

yes, of course we've heard of them. See: thread titled "Westport Capital Partners," in which you are currently posting.

To answer your question "Any advice?", I'm not sure what kind of advice you're requesting specifically, so in this case my advice to you = "kill self"

 

Here's the 2011 standings, ranked by amount of capital raised on a trailing 5 year basis.

  1. The Blackstone Group
  2. Morgan Stanley Real Estate Investing
  3. Tishman Speyer
  4. Colony Capital
  5. Goldman Sachs Real Estate Principal Investment Area
  6. Beacon Capital Partners
  7. LaSalle Investment Management
  8. The Carlyle Group
  9. Prudential Real Estate Investors
  10. Lone Star Funds
  11. Westbrook Partners
  12. AREA Property Partners
  13. MGPA
  14. KK daVinci Advisors
  15. CBRE Investors
  16. Shorenstein Properties
  17. Rockpoint Group
  18. Lubert-Adler Real Estate
  19. Citi Property Investors
  20. Walton Street Capital
 

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