MF RE Credit
Hi everyone,
I’m curious what backgrounds mega funds (KKR, Blackstone, Brookfield, etc.) typically look for when hiring Associates into their Real Estate Credit teams. Do they primarily target people coming from big bank direct lending platforms, capital markets brokerage, or real estate investment banking?
Mega funds like KKR, Blackstone, and Brookfield typically target candidates with strong backgrounds in real estate finance for their Real Estate Credit teams. Based on the most helpful WSO content, the following backgrounds are commonly sought after:
Big Bank Direct Lending Platforms: Candidates with experience in direct lending at major banks are highly valued due to their expertise in structuring and underwriting complex debt transactions.
Capital Markets Brokerage: Professionals from capital markets brokerage firms who have worked on real estate debt placements or structured finance deals are also attractive, as they bring a deep understanding of market dynamics and deal execution.
Real Estate Investment Banking: Analysts from real estate-focused investment banking groups are a key target. Their experience in M&A, capital raising, and advisory for real estate clients aligns well with the analytical and transactional skills required in real estate credit roles.
These backgrounds provide the technical skills, market knowledge, and deal experience that mega funds prioritize when hiring associates for their Real Estate Credit teams.
Sources: best way to understand careers in real estate, Real Estate Q&A, Capital Markets in Real Estate firms–What do they exactly do?, Other than BBs, what are the best real estate Investment Banking groups, Life in Acquisitions (Analyst/Associate)
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From what I have seen, these programs typically target to hire associates from other banking (including debt capital markets) or real estate private funds backgrounds. Usually these are pretty competitive so I usually see them do lateral hiring or promote from within.
Interesting. Why would a RE Credit fund rather hire a DCM or Private Funds analyst over someone who has more applicable RE experience such as Big bank RE lending, RE brokerage, or REIB?
FWIW, have gotten traction with these teams coming from REGLL coverage banking background. I can demonstrate credit chops via deals I’ve worked on but it’s not my day to day. Have also heard they’re recruiting more actively than PE at the moment given market cycle, so it’s probably a positive for non credit ppl like me
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