Forced out of Private RE After 2 Years?

I've only heard of this setup at some of the large/big name traditional private equity shops that appear to apply it to the real estate groups equally (Carlyle as stated above is one that I've heard does that). I don't think the more traditional wide gamut real estate investment management shops (PGIM, Nuveen, CBRE GI, etc.) structure this way. 

On a flip side, there seems to be fewer UG analyst programs at many of these shops as well, and they often hire post-grad school and/or from experienced candidate pools including those from related fields like banking/brokerage. Thus, if you don't make hiring large amounts of UG a big part of your staffing strategy, you may not feel compelled to structure as a "2 and out". 

Many large scale developers don't even bother seeking people without grad degrees and/or other experience, too many good candidates exist who want to enter the field to have to deal with 22/23 year olds. I think this is also true for many investment mgnt shops. Since real estate is so many people's "exit opportunity", you can hire people who actually want to work in the field. I think PE and IB run the 2/3 and out programs because they know many will quit anyway, and they don't want to be stuck with those who couldn't get a better job or into grad school.