BB REPE team worth it?
What is the general consensus on the RE investing arms of the banks? I know they probably work on a lot of core deals, with some value-add maybe and possibly opportunistic. But would you take a job within their RE investing team if offered?
I have a feeling if you tried to network your way into a BB RE team, it may be easier than say a MF but I could be wrong / may be a bad example. Generally curious how these teams are seen in the industry and if they are respected enough to go and work for compared to another REPE firm.
If anyone has additional info, please share.
xx
Goldman REPIA and Morgan Stanley MSREI are basically megafunds in real estate and just as competitive as Blackstone/Starwood Capital. Goldman also has GSAM real estate (mostly core-plus/value-add) and AIMS real estate (secondaries/co-invest). MSREI has very strong exit opps (Rockpoint, TPG, Baupost) but it basically is the exit opp anyways.
JPM and DB (DWS/RREEF) would be a tier or two below that due to the fact they mostly do core/value-add deals with opportunistic ones here and there. Then there's UBS which is going downhill from the looks of it (Trumbull fund redemptions); I wouldn't take UBS over any alternative. Citi/Barclays/BAML don't have real estate investing arms. CS has a real estate investing arm in Europe that I don't know much about.