Does anybody have any experience interviewing or working with Asana partners? I know they just raised $1.3B in march and have been looking to aggressively deploy their capital. Seems like they are moving away from a pure mixed-use platform and into a more traditional retail-based investment firm.
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I haven't, but I'm dying to know whether they're going to be able to deploy all of that. Finishing a fund raise in March 2022 seems like a recipe for disaster.
Or a recipe for success haha. Depends on what the duration of the fund is honestly
I don't see how closing on a fund right as the capital markets begin to go bananas could be a recipe for success. It's not a distressed fund, they're looking to deploy relatively quickly into a specific asset class, so even if you assume that liquidity will be helpful in a time when the debt markets are extremely tight, I don't know if they can even take advantage of it.
None of this is to impugn the Asana partners, by the way. Just bad luck.
I know quite a few people that work there and familiar with the group. Overall my opinion is a strong shop and clearly is shown by the amount of capital it has raised as you alluded too. I think you have it a bit backwards though in that Asana is moving towards a mixed-use platform and away from a more traditional retail-based investment firm.
To my understanding, they had been primarily an LP allocator in a lot of big time deals, specifically the design center in CLT which was an absolute home-run of a deal. I think they realized how much profit they were leaving on the table being an LP allocator and more recently have been trying to get on the GP side. One example of them I believe pushing into the GP space is co-GP is the spec-office deal that is going in Atlanta with Sterling Bay. Gaining a lot of attention, well, because it is spec office. Nonetheless, looks to be a quality asset and think it will do well.
Definitely recommend but would be aware that my understanding is that the analysts get crushed. However, good learning experience. Other aspect I have just came across recently is that one of their MDs has just left to join Nuveen. Not sure why and what the implications are of that.
Hope this helps and best of luck.
Gotcha. Appreciate the insight. Yeah I saw that spec deal with Sterling. Should be interesting to see how that pans out.
Was assuming their analysts get crushed. Was looking into their peoples page and the amount of analysts they have does not seem adequate for the workload I assume they take on. Going to try and schedule a coffee chat with an analyst and see what the situation is.
Thanks again
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