Trending Content - Real Estate Forum
| +45 | latest on Shorenstein? | 10 | 5h |
| +20 | Probability of S2 recap returning equity | 9 | 2d |
| +20 | To the veterans: What was institutional dev actually like during the last bull run? | 8 | 3d |
| +16 | Development vs. REPE pay gap | 8 | 3d |
| +15 | PGIM Real Estate Equity Opinions? | 10 | 1d |
| +14 | How do I break into a family office role | 3 | 1d |
| +13 | PGIM RE vs. Eastdil Secured | 5 | 1d |
| +12 | MBA Pipelines for REPE | 10 | 1d |
| +12 | Reneging - What should I do? | 5 | 3d |
| +12 | Opportunistic Equity Acquisition Associate Role - Middle Market REPE | 1 | 1d |
Career Resources
I am not even sure anyone knows what they do, newer group that has just made tons of hires from what I understand.
can someone ELI5 what this group does?
A
Yeah but it is fund raising for the GP entity itself not really for funds, so I doubt you look at deals.
You aren't investing into deals you are investing in the GP vehicle with a split of promotes/fees
You have it backwards. You're fundraising for the Fund not the GP entity. GP stake is sub 5% of a traditional REPE fund. Evercore's bankers aren't going to take on the reputational risk of raising a fund that flops because they didn't DD the investment strategy. You're going to have to know how to UW a simple deal and if you can't they're gonna clip you (at least I would).
They’re placement agents and most banks have these groups typically known as Private Funds Group / Private Capital Advisory. CS, UBS, Jefferies, Moelis, Greenhill (entire team poached by EVR), Lazard, etc all have these groups. They’re housed within IB and pay IB base with slightly lower bonus (in line w capital markets). Groups are broken down by project management and distribution. Project Management side obtains mandates from PE firms to go out and raise equity for their fund based on strategy, so if Blackstone is looking to raise a $1bn fund to buy RE in emerging markets, they’ll hire EVR to go and put marketing materials together, run the road show, and collect commitments. The distribution team is the investor / LP facing role that is actually making the introductions and identifying investors. It’s not technical at all - it’s purely qualitative and sales based. Exits are typically to boutique placement agent firms or investor relations. It’s a good gig but virtually no exit opportunities as you’re basically just in sales and making pitchbooks all day.
What were the type of technicals they asked? Got a R1 for this year and feeling unsure as to how best allocate my prep time. I heard it's mainly RE specific question (cap rate, FFO, AFFO, etc.) but they also ask general IB questions. Appreciate any help
Est culpa itaque molestias doloribus quasi dolorem voluptatem. Cum laboriosam est est magnam repudiandae libero qui. Consequuntur consequatur molestiae in. Esse molestias repudiandae sit corporis omnis doloremque. Ab id ad odit fugit.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...