Bank CRE Equity Positions
Can someone comment on the acquisitions and asset management functions within a bank? Looking for people who have worked at or with banks in those two capacities, not lending.
Is that type of work any different than working for a REPE firm/fund? Feel like bank acquisitions are as vanilla-core as they get, leading to AM being boring af. Accurate? Also, what is the pay/bonus like at these banks for the CRE groups? Would the groups be a place to career-coast or a place to gain some experience and leave?
I think in general RE is one of the lesser sought after groups in banks. It takes a lot less complexity than say Restructuring at a group like PJT/Houlihan/Moelis'
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These types of groups tend to be open ended funds, which differs from typical REPE groups. They mostly focus on extremely vanilla core deals with long term focus in order to get their AUM up as much as possible. Comp/bonus would be lower than typical closed ends funds just from the nature of the work.
do most banks have this division? I know GS has REPIA and MS has REF which do wackier deals. how about the CRE group at JPMorgan or Wells Fargo? Do they usually do core deals?
most of the time they are located in the Asset management group of each bank. I believe all of the BB's have one
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