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CBRE IM Indirect is their Fund of Funds/Multi Manager business. They basically take LP positions and invest across your commingled funds, joint ventures, co-investments and programmatic ventures. They can invest with their own CBRE IM Direct funds or with external managers as well.
Day to day work depends on which function you are in. There are 2 main functions, investments or portfolio management.
Investments would be in charge or sourcing for new investments/funds to invest and monitoring existing investments. Day to day work would include meeting new GPs to source new deals, underwriting, preparing memos/papers, keeping updated on performance of existing funds/markets/sectors.
Portfolio management is the other main function. Portfolio management is a bit different from other PERE firms I believe. The portfolio managers have quite a bit of investment making decision power too. They are in charge of their own pool of capital/client and decide on how their portfolio should be constructed, making buy and sell decisions on their holdings. At the junior level I think it would be more reporting focus while on the senior level it would be more client facing.
Are you currently looking at a particular role?
Thanks for the thoughtful reply. Not looking at any particular role at the moment but definitely interested in the investment function. Is the skillset transferrable to the direct investment side after a stint with the indirect team at the junior levels? Do you get asset-level modeling reps or mostly portfolio?
Their debt fund just laid a LOT of people off
Hard to place debt capital?
I would think that being an Analyst in the Indirect group would be good experience in terms of learning about JV docs, portfolio-level debt considerations, navigating GP relationships/learning to be both collaborative and a "watch dog".
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