This one goes out to people here at big companies, or with the above functions. What is the main difference between acquisitions and investment management. I've seen positions pop up that have acquisition underwriting, asset management as the job, but the title is investment management.
Do people not value acquisition team's underwriting? If so, why have another group do the underwriting on top of acquisitions? Maybe I am missing something.
Interviewed with a well known REPE in my market for an Investment Management role and the job description was kind of vague as it seemed to touch Acquisitions, Asset Management, and Investor Relations. The internal recruiter essentially told me it was a middle/back office position akin to a glorified accountant and tried to talk me out of pursuing the role further because my background is acquisitions and this was nothing like it and takes a special type of person. Can't say that this is the case everywhere though as I'm still in a pure acquisitions position.
For my firm, the acquisition team works directly on sourcing deals, negotiating terms, underwriting and then presenting to IC.
The asset manager gets handed the asset, the business plan and works to make sure that the deal meets the business plan.
Investment Management is a strategic level function. They work on fund level/portfolio management- they don’t do any work on a direct asset level
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