REPE > Fundamental Equity HF - Advice
Hi all, would appreciate some insight into my predicament. Currently an REPE Associate at a top firm (Blackstone / Starwood, with no traditional IB experience), but in the past few years have realized that I'm much more passionate about digging into businesses / markets. Although from preliminary discussions with a few recruiters this will be a tall order for established (say $10B+ funds), are there any "out of the box" strategies to find a way in? Thinking about sending some of my write ups to senior professionals at funds whose strategies may be a fit. Thoughts on doing this? What else would you do if you were in my shoes? Thanks in advance.
Bump also interested to see if REPE/RE Debt at MFPE can lead to HF exits
i saw two HFs that were >75% invested in reits & etc. i forgot their names but if ur interested in RE focused HFs, they do exist.
There is someone from BX REPE who went on to do Global Equities at Citadel a while back, might be useful to try and connect with him. Can try to find his name if you can't through LinkedIn.
I was also wondering, do you feel like you would have a great shot at landing UMM/MF Corporate PE if you tried to?
Best of luck!
Thanks for the input. Not sure, haven't seriously considered the REPE > Corp PE > HF due to the additional step.
There’s also another person who moved from BX REPE to Coatue.
Is it easier to move from BX REPE to MFPE vs top IB group?
I made this move. Stayed on the RE side at the new fund, but had an opportunity to do more traditional HF stuff if I wanted. There are a bunch of large hedge funds ($5+, $10+) that also do RE. You could try to make that move first, then try to shift to public markets over time. Depends on the fund whether they're into it, but you might be able to pick up REIT coverage, and maybe some other sectors. I feel like most of these funds have high walls but once you're in, you can get some latitude once you prove yourself. Problem is they don't hire that often.
Thanks for the input. Any advice on how to be in the loop / securing the interview when one of these opportunities does open up?
A lot prob go through recruiters, likely the same recruiters the overall fund uses. Might be able to do some networking too but will probably get a lot of “you seem great but we’re not hiring.” A lot of these teams don’t hire regularly, just as-needed, which could mean no spots for years at a time. I’d try to track down some of the funds in the space and find out who they use to recruit. More likely to be at some of the big credit funds than a tiger offshoot and def not a MM.
Congrats on the move. How large/established is the fund that you moved to? Personally have only seen people have the opp to move from REPE / asset investing to more traditional HF stuff if they're "trading down" (in brand name / AUM / etc).
Very established. But I stayed on the RE side. Can’t speak to what doors would have been open had I tried to switch to corp side too. If you don’t want to trade down it might be better to get into the door on RE side first then try to move internally. When you get some interviews try to feel out the culture and whether it’s siloed or not
I know of a REITs PM @ MLP who was looking for an analyst as of a month ago. feel free to hit my DMs if you are interested
There are tons of liquid RE focused hedge funds. Hell glocap was recently recruiting for northwood liquids which was spinning out. Do some more research and reach out to better headhunters.
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