APG Asset Management PE - Any Info?
Anyone have any info on APG's PE arm in NYC? Specifically at the associate level as it pertains to: whether the role is geared toward direct investments or investing in external managers, hours, comp. Thanks.
There are two teams in NYC to my knowledge, bifurcated between FoF (historically been the bulk of capital allocation) and co-invest (newer/smaller team). Would be curious if others have a perspective on hours/comp/culture.
bump. any insights into comp?
bump, similarly curious about their RE and infra teams
curious about their RE team as well
Worked with their European RE team on a handful of deals when I was in RE development (4 years ago). Nice and bright guys, very understaffed given the size of the portfolio they managed. Seemed top heavy with a noticeable lack of junior support, the guys we dealt with were Senior PMs. Not sure what that titles translates to in normal hierarchy, seemed like mix of director / MD based on their experience. Never dealt with analyst / associate level staff supporting on them (not sure if they had any). This may have changed since then, and may not be relevant to teams outside of Europe.
bump
Avoid at all costs. They have been a net seller of assets for several years. They have this ridiculously beurocratic euroean investment process whereby if their assets do well they need to sell them to right size their exposure. As an example, these brainiacs set their concentration limit for PE based on NAV, not Cost...so if you do well and the NAV naturally increases you need to sell assets. In other words, the more good investments you make the more you're going to be busy doing admin stuff like dealing with bankers to run secondary processes to sell shit.
The co-invest side is better but it's all large cap buyout and they're allergic to paying any fees at all. They don't have the best name in the industry as they're difficult to work with.
+1. any idea how they comp at the aso / sr aso level? i would imagine not extremely high given that they're a pension (euro one at that), but they are big aum-wise...
bump
Any insight into their real estate team?
I work on the RE team here in NYC, happy to discuss.
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