Best Opportunistic Real Estate Funds?
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The usual suspects. BX, Carlyle, Tishman, Oaktree, etc
How do these firms recruit for new associates- same as in corporate PE where they hire recruiters to find banking analysts? Or can I reach out to the major recruiters, send in my resume, and test my luck?
If the former is true, do these firms only look at analysts from REIB, or do they search across all entry-level real estate jobs (CRE lending, brokerage, investment sales, and other REPE firms)?
Oaktree only banking I've seen. Tishman and Carlyle aren't as selective with bankers. Not sure about BX but I'd assume mostly bankers
It really depends what you're looking for - 'Best' should be best for you there's a lot of factors you should take into consideration.
There's a significant difference in the culture - between say Westbrook and Blackstone
While everyone wants BX - the reality is on the acquisitions side, it's a sweatshop, people are very uptight and there's a lot of layers before moving to upper management- a push to go and get an MBA and you will generally be buying large and very little off market deals.
Westbrook- runs a water tight shop where you won't hear much about them, they don't publish an address, phone number etc and will generally focus on doing off market deals in the middle market. From the people I've met they weren't doing an MBA, the head was a quantity surveyor. Super relaxed culture, and also your roles won't be singularly acquisitions they will be divided between acq, Asset Management and development, working with architects etc.
This is similar to Northwood ect. so figure out which you like.
I'm not too sure about the US but in Europe these guys dip into retail -
Blackstone (Multi Platform), Oaktree, Vardee( They're a US hedge Fund) and Avenue Capital, Mayer Bergemen (Retail specialist), Tristan Capital Partners
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