Breaking into Alternative Investments/Asset Management

Hello Monkeys,

I am a long time reader, first time poster, and wanted to ask about breaking into an alternative investment analyst role with an insurance company/investment management firm/ family office/ etc.

I am a 2nd year credit analyst at a regional bank in the Midwest and a Level II CFA candidate. I mainly work on real estate deals between $10MM-$50MM. I began preparing for the CFA because i knew/know i don't want to be a banker long term and thought the program was the best way for me to boost my resume/prove my capabilities. During preparation for level one and reading WSO threads over the past year and a half, i began learning about all of the different areas of finance and really struggled to figure out what area i thought i would enjoy/be good at for my long-term career.

I've read that alternative investments is an area that invests in a mix of middle market private credit/corporate finance, private equity funds/private equity co-investments, and real estate debt/equity. (Please correct me if i'm wrong about this.) I think this is what i would truly enjoy doing long-term for my career. I enjoy learning the CFA material, i enjoy learning about real estate, and i really want to learn about investing in lower/middle market operating companies. The private debt/ private equity co-invest area is where i really want to land.

My question is how i should try and break into this area and secure an analyst position? I know that networking is probably the biggest thing when it comes to recruiting, but what else can i be doing to break into this area of finance? Based on job postings I've seen, the CFA or willingness to pursue is valued by these companies for an analyst position. Is it realistic to think i could secure a position in the corporate finance group with just level 1 under my belt and a couple years of (real estate) credit analysis experience? Another thing I've thought of would be to use my real estate debt experience to break into a real estate group and then try and lateral over to the corporate finance side after a few years, but i'm not sure if that's realistic either.

Please let me know your thoughts. Any and all input/advice is greatly appreciated!

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