Job Opp at New Fund

Stumbled upon an opportunity to work for a new fund. Subsidiary of a larger asset manger that previously hadn’t had real estate exposure. They have the infrastructure and the rest in place but don’t have a fund raised yet. Given the capital raising environment this feels incrementally more risky and unsure whether this makes sense today. Everyone there seems to feel very confident they’ll get a good chunk raised in the near term though, but could not identify if they’ve gotten a cornerstone LP yet. Anybody have any thoughts or opinions here?