Anyone know about Park Hill Real Estate group (PJT)?
Didn’t network with anybody there so only info I have is they help raise/allocate money into funds and have advised for firms like Blackstone.
Can anybody elaborate a bit more? Website doesn’t have much and maybe someone here knows someone there or is interviewing as well.
This opportunity or repe acquisitions role? I’ve got some offers with extended deadlines. They’re around 25-60 in repe 100 and I can get into specifics on messages if that matters.
Additionally this is for SA ‘23 and I’m currently at a big brokerage firm (capital markets) for soph summer internship.
If you want to do REPE, it is better to go straight to REPE. I worked in REIB and was beat out by candidates with prior principal side experience often before landing something.
The park hill group does fundraising but also advises on “secondaries” (basically selling or restructuring stakes in existing funds). The fundraising stuff is great experience if you want to go into investor relations and the secondaries experience will be great if you want to go into a secondaries fund. Although people still move into traditional acquisitions roles after time there.
StepStone, Brookfield, Goldman, Ares, etc all have RE secondaries funds and it’s a legit business that makes a lot of money. It’s more specialized and “institutional” than traditional acquisitions roles. I mean that in the sense that there is no such thing as an entrepreneurial secondaries funds - they’re all generally writing $100mm checks so I think the skill set is less transferable if you want to go out on your own or move “downstream” to a smaller shop where you can get more carry.
This is just a long winded way of saying you should go with REPE unless you do some reading on secondaries and are enthralled by it. Although you’ll still be fine if you work at PJT.
Ok I think I will go with repe for next summer as well. What do you think about opportunities working with pensions funds full time? Like CalPERS, TRS Texas, etc… I feel like I'm all over the place after not getting any of the early repe shops. Recruited for (even got up to several super days) BX, apollo, Sw etc for acquisitions. I got a couple of offers from other firms, not in my ideal location and probably don’t have the same “name” repe though.
PJT is a very strong group and recommend you to look into them. Strong exits.
I don’t like hearing “strong exits” because I think why not just go straight to the exits which is definitely still possible. I’ll see what the team/who I interview with is about for sure.
PJT is a great name and place to be. You can even get exposure to top EB IB.
Definitely would be cool to get that exposure. Not sure how divided park hill is from the PJT IB though.
You should def go for it - idk why ur not
I am currently in the process/interviewing. Have several other options so it’s been tough to decide if I should even do this (with internship ongoing and other interviews).
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