Stay in RE or move to Public Credit?

I am currently at a large institutional asset management firm working in the real estate portfolio management group. I generally work with a few portfolio managers to manage the existing assets (~1 bn portfolio) and also help with the asset management side of things (.eg. - property budgeting, leasing etc.).

I have been in this role for less than a year now but an opportunity opened up to join the fixed-income investing group in one of their investing teams (IG/Distressed). It's more of a front-office research analyst position. My goal is to be a good investor and it's very hard to move to the real estate acquisitions team internally. I also have realized I don't enjoy real estate as an asset class because of the long investment time horizon, leasing, and the property management aspect of investments. In my current role, I spend most of my time doing random mind-numbing portfolio work (preparing asset plans, reviewing reports that property managers produce etc.). I would like to focus more on the macro picture than the granular, operational aspects of real estate. It's also a very top-heavy group so there's very little upside mobility. 

I would ideally like to work in the Fixed Income group for a few years and then maybe move to an HF credit group. I don't plan to work my whole life so am trying to maximise my earnings for maybe 10-15 years and then call it a quit. For context, I am very entrepreneurial-minded (always seeking to improve processes), a very hard worker, and have fortunately received great feedback so far from everyone I worked with. I wanted to ask if anyone has any opinions on this. Don't have a lot of people to talk about this in real life so I was just hoping to gain more perspective if this would be a better move. Would this be a bad idea? 

Thank you!

4 Comments
 
Most Helpful

I think the decision is pretty clear - you should make the move, though I am biased as I am currently at a Credit HF and dont see our real estate team do much. In distressed scenarios, we look at real estate for collateral packages so there is some overlap. Also making the move now will provide you with more flexibility if you want to move to other fields within finance. How is it set up? you are an industry analyst that covers both IG, HY, and distressed strategies? 

 

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