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Differences are probably pretty semantic. But based on experience in prior companies my interpretation would be that CIO has some more strategic input (ie where should we invest, how much, etc.) , while Head of Acquisitions is running a programmatic investment strategy (ie. go find value add apartments that get me a stabilized cash on cash of 8%).
Given my interpretation of the definitions above, CIO definitely more interesting to me. Get to think like an investor, help guide strategy of firm, etc. Head of acquisitions can feel a little bit like a buyside broker. As far as track, CIOs I have worked for in past came from variety of roles, IB, REPE, even brokerage. All but one had spent good amount of time growing through ranks internally at the various firms. Brokerage and principal side relationships, ability to form, defend and execute on an investment strategy all important, but obviously internal politics plays a role too since you still generally report to CEO.
Not to blow up this thread.... but, "Head of Acq" (or head of anything) is just a whatever title. And in this setup, most "heads of acquisition" either are the CIO or report to the CIO. Either way, CIO is more senior so, I mean must it not be the better answer?
Like asking is it better to be the Assistant Branch Manger or Branch Manager? Maybe I'm missing the spirit of your question, but seems like a no-brainer.
I'm coming from reading certain companies hierarchy's and seeing "acquisitions" professionals and "investment" professionals. Made me think there could be a path to be CIO that wasn't acquisitions, or direct acquisitions...whatever that means but I think someone here summed it up. Acquisitions is like an internal broker and Investments is more quantitative.
Can you give an example of that? The CIO tends to be the "chief" allocator/investment decision maker, and acquisitions is the process by which investments are made.
I think you are maybe thinking of large firm that have multiple funds, strategies, SMAs, etc. and utilize a centralized acq team. In those worlds the hierarchy is very clear, the fund managers/CIO suite sit above the acq team(s). The CIO may serve as gate keeper, allocator or manager of the "wheel" (the system that attempts to manage conflicts of interest between competing funds/SMAs when a new acq target is identified, which could be as simple as a rotational batting order "aka wheel" where each fund manager gets a ROFR in a certain order, then deals go around the wheel in order until accepted or all have passed).
I think career paths to CIO can be from many areas... including acquisitions, asset management, fund/portfolio mngt, research/strategy, cap markets, and even finance. It's a senior mngt role, so more senior leadership skills based than requiring any specific training or anything (just must be super respected by the investors).
THanks.
I'm not thinking of a big fund structure, because I've never worked for a big fund.
CIO no doubt. Our CIO is legit af and I love his strategic approach. I don't know the differences but to me "head" of anything seems like an obvious step below any C-Suite title
CIO by a mile.
This is usually a more common title at institutional shops in which they would report to the CEO whereas a Head of Acquisitions would report to just the Head of RE or some Principal or MD most likely.
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