Goldman Sachs RE AM?
Got a hirevue for GS Real Estate Asset Management in the MBD. Can someone tell me a bit about the reputation, work/life balance, culture and exit opps (into RE PE, or non-Real estate PE/Hedge Funds)?
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GS RE AM is an amalgamation of its former SSG (Special Situations Group) and MBD (Merchant Banking Division). As a result they invest Goldman's balance sheet in across the Core plus, value add and opportunistic space which makes them a principal investor. They own a development subsidiary in the UK called Riverstone, which develops senior living space. This is just an example of the wide range of work they do. Acquisitions, assessment management, portfolio management and development. This allows analysts to gain exposure to a wide range of roles within the real estate spectrum.
In terms of reputation, the GS brand name and the previous reputation of the former GS PIA (Principle Investment Area) places GS RE AM on the same level with the likes of other Megafund REPE shops (KKR, Brookfield, Blackstone etc.). They are the 'exit opp' so to speak. As a result, It would be very easy to move into another REPE shop and other institutional investors, once you have a seat in this division.
In terms of culture, the teams run lean and analysts are given more responsibility early on, as opposed to their IBD counterparts. Hours range from 8:00-20/21:00, but this varies dependent on workload and whether a deal is live or not.
Do you know if they have acquisitions associates that solely handle multifamily? And it looks like they're mostly located in Texas, which isn't appealing to me, so if you can comment on a presence in NYC that'd be appreciated as well.
I do not have any insight into their NYC presence unfortunately :(
Given @cre-23's comments, I assume the set up will be the same over in NYC also.
If it’s on the asset management team, I think it’s viewed differently than if it’s acquisitions team. Either way with networking I’m sure you can get wherever you want to be. Have a friend that works at GS in RE acquisitions, and they’re two separate teams.
Any chance you could give some color on how the teams are split, what your friend typically does and what the culture is like?
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