Blackrock REPE vs BB IB exit ops/prestige
I currently have an offer form BB (GS, JPM, MS) IBD coverage analyst1 position, and BLackrock’s REPE (alternative direct investing analyst) role.
Let’s say if I wanna pursue a career in REPE and eventually move to Blackstone REPE, which position would do better?
Too-tier BB obviously has a good reputation on the street, but I haven’t heard abt Blackrock REPE reputation on the street or sometimes I hear that they are not considered as REPE as they are part of “Asset Management” so I would like to know what is reputation/exit opps of BLK REPE as out of college analyst.
Do you like IB or Property?
It's really that simple.....
I would like to pursue a career at Blackstone REPE as I mentioned above, I am just not sure either BB IB RE coverage or Blackrock REPE arm have better exit opps (or better on resume from the perspective of other repe ppl).
I want to pursue a career in Blackstone REPE… so cringe
Why do you cream yourself over a career at Blackstone? What will you do with your life if you don't reach Blackstone? Self flaggelation?
If what you really mean is I want to earn a lot of money, it doesn't matter what I do. Take the IBD role.
Wtf are you saying?
Initially sounded like you were comparing Blackstone REPE to BB IBD but then you go on to say your end goal is Blackstone REPE. If that is your end goal, your question makes zero sense. Obviously Blackstone REPE is the better option if your end goal is Blackstone REPE.
With how you laid out your thoughts, don’t worry about BB IBD or BX. Start applying for local teller jobs.
BB IB will offer a broader range of exit ops in all verticals of finance, i.e. traditional PE, IB, and MF REPE. The BR role would be great on a resume, but this position may limit you to CRE exit ops, though these would likely be the best exit ops within CRE. The question is, are you sure now that you want to spend a career in CRE? Or - do you want more optionality, which would include the ability to later move into CRE.
I don’t mind abt limit myself to CRE space. As I mentioned I would like to pursue a career in REPE.To specify my question, I just want to know how BR REPE arm is evaluated from other repe interviewer on my resume compared to top BB IB.For example, let’s say if you worked at KKR REPE arm, you would prob have better chance to land bx compared to Goldman coverage banker. I know Blackrock REPE is a good place to start anyway but want to know how it is positioned on the street compared to other REPE shops like Lasalle, Hines, MSRE, Bain Capital etc.. or is it even considered as REPE as they do same thing as REPE but just because they are within asset management company. In latter case, I think I probably should choose Top BB IB role, but let’s say Blackrock REPE is comparable with other known platform, I would choose BR as it has better chance to land BX.
I think you need to understand that MF REPE like BX / KKR is one of the hardest spots to land in finance altogether. You are competing against not only coverage and REGAL bankers at every shop on the street, but top talent from infra / corp PE and traditional CRE shops as well. Deciding between BR REPE and BB IB is largely negligible, so I would lean towards what is interesting to you from a culture / fit perspective in the near-term, I doubt it will move the needle considerably. For context, I joined MF PE with the idea that I would lateral to a REPE shop down the road, but I’ve found it difficult to make the transition without moving downstream to UMM / MM. I will be making the jump before my associate stint.
You realize that getting into BX as a lateral is very rare no matter where you work unless you are very niche or they happen to be growing a specific group that you have expertise in?
If you want to aim for that, then you should of tried to get in as an intern or you will most likely need to go back for an MBA for associate recruiting.
Yes I get that BX REPE is hard to land.
I think the way I queened was not articulated well. Not only just BX REPE (yes eventually I want to be at there), but if in the future, I also lateral to other REPE. In which case, how does BR PERE do its job compared to top-tier BB IB?
Or how prestigious BR PERE is? Is it comparable with Carlyle REPE, Morgan Stanley RE Investment team, or Fortress ? Or is it considered as not good as them? (Prob comparable with somewhere like Patrizia or if it is BR is not considered as repe definitely BoA M&A do better job on my resume.)
No offense, but if this is the way you approach your career I don't think you will get very far, even if you do land a seat at BX. Cheers.
Pick the team and job you are most interested in, then figure out how to sell it/yourself when the time for you to move comes. You are still young and have way too much career ahead of you to try and plan all of your steps right now.
You’re over thinking this mate. Literally nobody in recruiting cares that much once you’ve got good experience at somewhere reputable. Once you check that box it all comes down to ability likability and fit. Speaking as I have worked at two of the places you’ve name dropped on this thread. Funnily enough, I can almost guarantee with certainty that after 2 years working in the real world, the last thing you’ll want to do is move to blackstone.
Hi thank you very much, yes I think I was overthinking too much.
I was just not sure if Blackrock REPE arm is enough to set me up on the stage to apply other great repe shops as they are new and I myself not familiar with how they are positioned.
However, as long as they are prestigious enough to gain my experience and knowledge, I am happy about it.
You’re overthinking it. You’ll get great experience at any of the shops you mentioned. You’ll do interesting deals at all of the shops you mentioned. Not sure why you’d question BlackRock’s pedigree. The role there should set you up to land a job anywhere in REPE if you learn a thing or two while there. That said, you’re still in school and you could very well hate working in real estate after a year. Seen it happen a handful of times. As others have said, I’d keep my options open and take the BB IB coverage role and not pigeonhole myself to CRE from day 1.
Thank you. I think I am just not too familiar with repe world, and did not know how prestige (evaluated) Blackrock repe arm is. Especially they are new and I couldn’t find information, or what I find on the internet is people saying Blackrock sucks as a PE player cuz they are just too lean towards passive (which is totally truth).
However, yes as long as they give me a decent experience compared to other traditional repe shops I would be happy working there and enjoy what I will do.
Do you have any insights on how is there deal flow compared to other repe platform like CBRE IS, Hines, Fortress, or Bain Capital RE?
“CBRE Investment Sales” 😂😂 brother is this a troll post
All I will say is that you should aim to build a "career" in an industry, not a firm.
Maybe you end up finding a firm which you love working for, are well rewarded, and you actually add a lot of value. Maybe that will keep you there for 20+ years.
But as a fresh graduate, your career is all about industry, not names.
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