A bit of background:
- Grew up and currently live in a small European country
- Attended the top school in the country (RE program), though it’s still non-/semi-target
- Did 2 years of advisory work during school, including an investment sales internship (CBRE/JLL/C&W)
- Now work in acquisitions at an REPE shop with c. €1bn AUM
Graduated quite a bit ahead of schedule to try to get a head start. At that time, I didn’t fully understand the space and significantly underestimated how much firm quality and geography matter (GDP growth, central bank etc.). Thought I could always lateral later.
Only after graduating did I fully realize how large the gap is in terms of training, brand value, deal flow, and long-term career optionality. Given my long-term goals, exposure to a stronger market and better institutional environment feels increasingly important. My current market is fairly limiting on that front, as none of the global REPE shops have an office in my country.
The US seems like the best place to be, but competing against domestic candidates while requiring visa sponsorship seems close to impossible. London appears more realistic, though still visa-constrained. I’m trying to understand which the most viable path actually is from here.
Here are some of the paths to the UK I’ve thought of, in order of priority:
- Direct lateral to the UK to a middle-market manager and try to work up from there
- Start a second master’s while working and apply for REPE internships, then convert to FT
- Start a second master’s while working and apply for IB/Eastdil internships, convert to FT, and switch back to REPE after 2 years
- Stay and work for another 2 years, then try to break in through a top MBA
How viable do you think these paths are or which one do you think would be the best to prioritise? My CV should be quite strong in my country but not sure internationally.
Additionally, is there any consistent way to break into the US from EU?
Would greatly appreciate any insight!
I’ve seen several friends move from Europe to both the UK and the US, and the starting point really matters. “Small European country” can mean very different things. Latvia and the Netherlands are both small, but the opportunity set and signaling are worlds apart.
Your current shop can either help or hurt your chances, depending heavily on the platform and asset class. In my experience, I&L exposure translates best to the UK and US markets. If you’re coming from a more niche focus (e.g. retail only), the jump becomes harder.
The UK is relatively straightforward to break into, especially if you speak more than just your native language and English as that is something most Britons do not. The US is much tougher. Realistically the only viable path is joining an American firm and transferring internally.
Thank you for your insight!
Currently based in the Nordics and exposure is mainly around resi and I&L. I’ve been extremely fortunate that deal flow at both my current and previous employers has been very good despite the macro challenges.
Do you think I would have a chance to lateral directly in this market to a strong platform in the UK or should I go for the master's and internships?
Sounds like you have a solid resume. It's hard to tell without knowing your employer, but with good deal exposure in this market I'd say you have a good shot.
How long have you been working full time? And do you already have a master's degree? At some point academics become less relevant.
Overall, I only see two options to getting to the US. First is move to London (I would do this either way) to work for a firm that has broader exposure as your skillset will be more transferable. If you can, try to find a US or a more global firm that has both offices in the US and London. Once you're there, I'd start applying to top MBAs in the US. If you can get into a top MBA, the path becomes a little clearer and now you will have solid experience to position yourself for a role in the US.
Thanks for the comment! This is also the path I’ve been considering as the most likely.
I work in I&L in London and think you’d have an easy time lateraling to a fund here. Funds specifically recruit for Nordic speakers because it’s so tough to break in without commonality. While I don’t think you’d jump to the KKR/Bx but you have plenty of pere100 remaining.
Or you could try switch to one of the Nordic shops like EQT, NREP, Brunswick etc and ask to switch to London office. Or better yet look at satellite offices of P100, I know KKR has an office in Stockholm, head guys are from NREP and NIAM. You’d save a lot more in Stockholm than London.
Just note that P100 isn’t the be all and end all. I’d rather be well connected at a small shop than a nobody at a big one. Your reputation and connection matters more than your resume in real estate (ideally both should be great).
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