I am in process of securing a major office asset in a global top 10 market and looking to secure interest from major institutional LPs. I do have connections myself at some shops but I am interested in helping an up and commer make a name for themselves by bringing in a major asset for their shop.
Drop a response to this thread and send me a DM and we can chat more.
Thanks.
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"Now the key to making money in a situation like this is to position yourself now before the settlement. Because by the time we read about it in the Wall Street Journal it’s already too late."
Bump
Yes, buying for steep discounts. Large allocators are selling due to sentiment sometimes to their own detriment i.e. UBS who recently put their head of research in charge of US asset management yet she has never actually done deal/property level work outside of broad market commentary, just stupid if you ask me.
She is in charge of asset management, which means she’s not managing any assets, just managing asset managers. Did it ever occur to you that maybe the company knows more about what they need and who should run a division? The best person for the job isn’t always the person who’s done the job.
I disagree, no one says the leader has to be an expert in every aspect of the job their company or group does. However, they have to be able to speak the language of the people who perform the work of the company or group. Generally when things like this are done thing take a slide because communication breaks down and turnover rises.
Why can’t someone coming out of research ‘speak the language’ of asset managers?
the person running asset management, in my opinion, just needs to figure out when recommendations to sell/hold/renovate, etc make sense. Plus understand capital investment into an asset. The asset manager deals with execution minutae and in a firm with structure, they also make the decisions as it relates to document negotiation. So if the boss just has to manage, why can’t this person be smart enough to do so? Many people running groups have never done the job they are managing. Taking that a step further, most people who start firms specialize in one thing - whether it’s buying, asset managing, developing. They haven’t done all the things, yet they manage to start the firm and manage people who do what they have never done.
Once you get past a certain level in business, and it starts to happen when running a group, you don’t need to know everything. You do need to know how to asking them right questions. And if you can do that, you’ll be able to be successful. I would bet that this person who is now running the group knows how to ask the appropriate questions to get at the information necessary.
So were you responding to me about allocations or making a general statement?
No, I was responding to the person making a statement about the supposed new head of asset management at UBS.
pls fix, thx
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