Have a potential opportunity for a PM role with MF REPE (Carlyle, Brookfield, Blackstone, etc.), and was just curious if anyone has ever transferred internally into a different vertical (PE, energy, infra, whatever). MFs are obviously huge, but what is the internal networking like and ability to move around, if any?
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Works at Other, bummer your thread hasn't had a response yet. Maybe one of these threads could point you in the right direction:
More suggestions...
Hope that helps.
bump
REPE is a somewhat specific vertical so it's unlikely you would be able to move into traditional PE. What I have seen people doing is moving "downstream" from REPE into a smaller fund to join the traditional PE team (you can leverage the brand)
Agreed with user above, unfortunately MFs don't have great internal mobility programs. Not sure with teams in the same space like Infrastructure vs. RE but even then wouldnt happen before at least 2 years, and by then you'd be too expensive to move into corporate / other strategies without the background
I should have clarified, this is more of what I was thinking about
This is also highly unlikely. Infra PE has more crossover with traditional PE than with real estate. It may be possible with a more focused PE fund that focuses on both real estate and infra (the only firm I know of that does this is CIM Group).Even BlackRock keeps their infra / energy PE team very separate from its real estate team, although both sit in "Real Assets".I'm currently in Infra / Energy at a MF, and we've never had anyone lateral from a real estate background. We do get individuals from TMT (due to the digital infra scope), natural resources, power, and industrials.
Yeah that makes perfect sense, especially the last part re: P&U, etc. I had unfortunately passed on a really interesting energy (transition/renewable/conventional) AM role that would have been great and am still kicking myself over it, but there's nothing I can do about that now.
Anecdotally, I've seen someone go from credit/structuring to traditional buyout group within the same MF. Said person was a rockstar in general though, so I'd say if you can be top ranked it's not impossible, though this is much easier said than done. Also largely depends on politics within and between the two groups you are considering moving between.
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