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I think Slate would be a great place to work. They are the most "institutional" real estate firm in Canada. They are also active in Western Europe and the US. The two founders worked for Lone Star and Fortress before starting Slate. They raise large funds and opportunistically pursue interesting transactions across the capital stack, property types, and geographies. I've interacted with a number of people who work there and I've been impressed by everyone. It strikes me as a place where they would work you pretty hard, but after working on a few deals you would have some pretty incredible experience.
I can't provide any solid data points on comp, but I'm sure it would be market.
Mostly on the money, but I'm not sure what you mean by the most institutional firm in Canada. Not including the pensions funds, we have Kingsett, Dream, Quadreal, Hazelview, Fengate, Greybrook, etc (all multi-billion dollar asset managers who've been around longer than Slate). They are though, without a question, the fastest growing here. 0 to ~$7 billion AUM in 14 years, and I believe they have 11 satellite offices spanning four countries (don't quote me on the office figure though).
I’m not even Canadian and have to ask...is this a joke? In addition to the groups mentioned above...ever hear of a few little firms named Brookfield, Ivanhoe Cambridge and CPP Investments?
You raise a very fair point. I do differentiate between groups like Slate (sponsors) and groups like CPP (allocators) as the sponsor is much more active/hands-on. I believe comparing those two groups of companies is comparing apples and oranges. In this sense, I stand by my comment that Slate is as good as it gets in its ability to source and execute on a very wide array of opportunities. There are other great Canadian groups, but I've been most impressed by how nimble and creative Slate is. Nothing wrong with Quadreal, Brookfield, or Ivanhoe Cambridge, but they just don't operate in the same fashion. Perhaps as Slate continues to grow they will fall in with the rest of the herd, but they are differentiated right now.
"Institutional" was the wrong word choice in my original post. Thank you for pointing that out.
CPP is a pension fund (Canada Pension Plan) and Ivanhoe Cambridge is most active in Quebec (not really considered among the "big boys", if you will). You got me on Brookfield though - they slipped my mind. Was just naming that operate most similar to Slate.
EDIT: Ivanhoe Cambridge is massive, just not very active in my market, is what I should've said.
An SVP on my team is pretty close with the head guys over there. Have talked about them in the past, nothing but high praises for the guys/culture they promote.
Everyone I’ve met from Slate has been super clever. I’ve heard their work culture is pretty tough on hours, but it’s because of their great deal flow. You’d learn a lot
Top notch operator in Canada (never dealt with them in Chicago/US markets). PM me for all the juicy details...
Just curious if anyone knows what their comp is for an Associate position?
Assuming you're looking at the Dev Associate role they posted - it's going to be different from an investment associate comp so take any info here with a grain of salt. Think this is a new role at Slate so there's probably not much info out there.
Safe bet is going to be towards the top of market though. They've always been competitive.
Yes, that is the position. Do you work at Slate, how do you know that its a new position? Any additional info you can provide on it?
Thanks!
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