REGL to Corporate PE?
I am currently an intern at a BB's Real Estate, Gaming, and Lodging Group. I didn't aim for REGL during group placement, but it was my last option, given how HR structured group placement this year — it was a complete mess.
Anyways, I am more interested in corporates — consumer, industrials, healthcare, and tech — and was wondering if recruiting from REGL to corporate PE is still feasible? If I end up in REGL, to reduce the risk of being pigeonholed, I was thinking I could try to work more on travel & leisure, proptech, and gaming deals, given their operating models are similar to those of consumer & retail companies.
Would love some insights.
Incredibly uphill battle, you’ll get way fewer looks. Better to get your return offer and figure out a way to switch groups before full time.
Don’t listen to this kid. I did it and it was pretty easy. The bank matters way more. I got an interview from every MF/UMM and ended at one of them. After 4 years in PE, I’ve seen a lot of other people do it as well and in other groups that people get nervous about like FIG and Natural Resources and Oil and Gas. The reason you tend to see it less is because people are usually more interested in staying in the industry they cover
If you don't mind me asking, how was the process? Did you encounter any challenges? What industry are you now in pe?
PE is a small world, so I don't want to share my industry, but I didn’t have any trouble. I got two offers during the process. Just use one of the PE guides online and you’ll be fine. REGL tends to be capital intensive, so there’s a lot of capital markets activity, but I’d recommend focusing on the M&A and LBO work instead. It’s better for building modeling skills and understanding EBITDA multiples and the P&L of other businesses is relatively straightforward. The real learning curve comes from modeling and getting good at error checking in excel and ppt. Also just have a good story for why another industry. I think that's important. People get that sometimes you just get placed into a random group
Work in MF PERE and am considering another sector within PE. Any advice on how you'd go about it? I've seen a few people do it, either internal transfers or within real assets, but kind of considering away from asset heavy businesses.
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