Opinions on Patrizia
I know they've done their first ever analyst program this year, what are peoples opinions on Patrizia as a REPE/REIM firm, culture, exits etc?
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Know a few of the fund managers there (London).
Honestly, they come across really well - I had an off the record chat with an assistant fund manager not too long ago and he told me the work-life balance is pretty good (i.e. finish most days 18:00).
They're pretty big across Europe and well regarded. There is a bit of a reputation from brokers of them getting analysis paralysis and chipping away at prices a lot but culturally that is how the Germans tend to operate and they are (frankly) a well oiled machine.
Bonuses depend on where you land, i.e. the investment guys would be compensated on how the acq/exits go that year whereas the fund management guys are more predictable I would say?
Not a bad name to have on your CV if I'm honest.
Good luck!
Thanks for the response - Would you say they're in the same bracket as PGIM/LaSalle/M&G? - this would be my opinion just for the record, want to get my bearings right!
RE exit opps, what do you think chances would be of landing at a value-add/opportunistic repe shop (think Patron Capital/Tristan/Aermont/PB Benson Elliott) and respectively, the chances of landing at a RE MF?
Thank You!
TBH after a certain level if you're not Blackstone or Brookfield it doesn't really matter.
I would say they are less of a household name than the three you mentioned but doors will not close for you just because you were at Patrizia, those who matter will know Patrizia manages c. 50bn.
No reason why you can't get into PE mate, just get your modelling badges and you'll be fine. It's worth noting that some of these funds can act like GP's within their own mandates, I know for a fact Patrizia does this. What I mean is they could have a value add fund with c £500m deployable, the fund itself will act as a GP as a private equity outfit would and get a piece of the promote along with their AM fees.
Should you get into a place like Patrizia don't be shy about letting them know exactly what you want to be involved with.
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