Lateraling from Operating PE to REPE
Hi All - I'm at a crossroads in my career, and considering attempting to switch asset classes. I am curious to hear the thoughts of the community.
My personal background:
- 2 years investment banking at a BB industry coverage team (non RE)
- 2.5 years at a MM private equity shop working across multiple industries, but primarily consumer / industrial (also non RE)
- Goal of leaving my current shop within the next year (I'm no longer interested in living in my current city), and am exploring opportunities with other PE shops (MM - MF), but would be interested in using this time to explore the potential to switch asset classes
I have always been interested in RE, but actively avoided it early in my career. This was predominately because I have some family members who are very successful RE professionals, and I wanted to forge my own path. I can obviously turn to these family members for advice, but sometimes it's nice to hear from people who you don't have a personal relationship with.
Have any of you seen experienced investment professionals transition from traditional PE to REPE? Does it seem highly unlikely that I would be unable to do so?
I made a similar jump successfully.
That's good to hear - A couple follow up questions if that's okay.
How long were you in traditional PE? What was your recruiting process like? Did the REPE fund credit your experience, or did you essentially step back and start over?
Thanks.
1 year in traditional PE ; 1 year RE Brokerage
Recruiting process was REPE firm reaching out and a few interviews and an underwriting test
They credited my experience. Firm is all "Analysts" unless you're a partner.
Bumping to follow
May not be a direct answer to your question, but explore the ability to work on sale-leaseback transactions in your current role. If your current shop is working in consumer and industrial, your operating companies will probably own some real estate. Monetizing these assets by entering into long term leases could be attractive for your current role and will help you pivot in your career if you wish.
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