Goldman Sachs Real Estate explanation
I'm looking into Goldman's real estate groups and was wondering if anyone can explain what their different groups do. What is the difference between GSAM and GS merchant banking? What are the types of work/investing, comp, and potential exits in both?
What does the real estate financing group do? Do they originate loans like other bank lenders at the asset level, do debt placements like brokers, raise corporate debt like typical bankers? Any info would be much appreciated!
GS merchant banking is transitioning to GSAM. It’s the same as a real estate private equity company. In recent years they have invested off the balance sheet but are beginning to raise funds.
So they're really the same thing then? Some people on LinkedIn write GSAM and others write MBD, weird. Any info on comp at all?
Same same. Dallas and NY offices working in tandem on deals now. I think technically it all moved under the IBD umbrella
Is this about the real estate financing group, or MBD and GSAM, or all three? I've seen people be in both cities for all three so not sure.
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Headed in the *right* direction
Experiencing some technical difficulties on the site...
They have a ton of cash and dedicated to expanding their real estate platform; however, have experienced tremendous turnover and as a result they are organizationally in disarray
So high turnover recently but headed in the right direction? Do you have any experiences with them, or know anyone there? Would love insight into comp, hours, style of investing, etc. Exits seem to be really good
No idea on comp... probably pretty good though. Dunno about hours.
Style is more opportunistic / value oriented. Development has been top of mind. They also have urban renaissance fund (something like that).
Not aware if they have any core money... if they do its not good because we don't call them for core capital.
Goldman Sachs had what was MBD which was comprised of RE, PE, & Credit. There was an internal restructuring this year which placed all of MBD under GSAM which is why all MBD groups are now under AM. Someone mentioned that the RE MBD group did what an REPE group would do and that would make sense given that MBD PE group acted as GS’s PE arm.
As far as IB, GS has a RE industry group under classics (which I would assume is like most RE IB industry groups) and a REFG under Financing group which deals with CMBS and originating loans for various commercial real estate transactions.
Has anyone read about that guy Goldfinger? Pretty interesting, think he was in the Dallas office
A good friend of mine works in the London office so I can provide some insight:
I hope it helps.
This is fantastic, thanks! On comp, you talk about MBD. With MBD now integrated as AMD Private/ GSAM, I'm guessing your figures also refers to GSAM then?
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