Large Loan Origination to Real Estate Private Equity

Hi all,

Currently a first-year analyst at a BB in a fund finance role (NAV lending). Good experience on the credit side, but I’m starting to think long-term it’s a bit removed from actual asset-level underwriting and investing.

I don’t want to get pigeonholed in fund finance and am trying to be proactive about positioning myself for potential exits into private credit, private equity, or real estate private equity. Real estate has always really interested me so leaning a bit that way and was wondering what the prospects are of the two below paths.

  • Large loan origination at a middle market bank
  • Conduit at a BB

My goal is to move into something with real asset-level exposure where I am underwriting deals.

My biggest questions are:

  1. Between large loan at a smaller platform vs conduit at a BB, which sets up better for exits into private credit, private equity, or real estate private equity
  2. Is large loan meaningfully better for developing underwriting / investing skillset, or is that overstated?
  3. Does conduit pigeonhole you into securitized products, or is it still a viable path to the buy side?
  4. Am I overthinking this and should I instead be trying to pivot into an IB role if the end goal is PC, PE, or REPE

Appreciate any perspectives, especially from those who have made the jump.

Thanks

1 Comments
 

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