Northwood Investors - Any Info Appreciated
I have an upcoming interview with a REPE firm, Northwood Investors, but I haven’t been able to find out much about them online. I’m trying to get a sense of their reputation, what the firm’s culture is like, compensation relative to competitors, or really any information whatsoever about the company. Thanks!
I previously interviewed with them and pretty much everyone working there came from well respected BB Investment Banking roles so I assume that the compensation is decent. Can't really speak to prestige/reputation though.
They just came to my campus to present to sophs for 2020 recruiting which will take place in the fall. One guy was ex Blackstone the other ex Goldman TMT. They look at office, retail, and multi family with a focus on distress and asset level improvements.
Thanks! It definitely seems like they have some pedigree in terms of the people that they hire.
The founder and current CEO is John Kukral who used to co-head Blackstone real estate division from the start. They focus on the asset classes listed above, in addition to hotels, and focus on long term holds, meaning anywhere from 10 to 20 years typically. During this time frame they aim to make substantial improvements to properties. Also, they do not always look at distressed assets. Sometimes they buy high quality assets they believe they can create more value for in the long term. Hope that helps
I saw somewhere that they've raised ~$300mm in their new evergreen fund. They used to have some large funds, so dig into whether they are having trouble on the fundraise front (and if so, the reasoning behind it) - when did fundraising commence, how much are they circling for their next close, when their next close is anticipated to occur, etc.
I’ve noticed that as well. Their first fund was ~$1.3B, second was ~1B and last big raise ($1B+) seems like it was in 2013 based on the PERE 50 and their website. I’m not sure if it would be wise to bring up in an interview but it’s definitely something to keep in mind. Thanks!
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