Over the big shop
For context - 6 YOE total, 3.5 acquisitions (current), 1.5 asset management, 1 brokerage. Currently at $100B+ shop that focuses mostly on Core deals in a HCOL city. $160K base $70K bonus.
Really over the big company and run of the mill Core deals with limited upside / simple business plans. Want to work on higher octane, hairier deals as a generalist across the cap stack with the goal of eventually becoming a Principle at a smaller shop. These opportunities (Senior Associate / VP) seem few and far between and a lot want that 2 years of IB experience. Anyone made similar pivots that can shed any light on my situation?
You're at a $100b+ AUM shop and can't find a smaller shop to come in as a Director+? By "smaller" do you mean $30b because you're not going to find the sort of entrepreneuria, generalist lopportunity you're looking for at >$5b-10b... Try a $1b-$3b AUM operator where you can be a Director/VP and work on smaller $10mm-50mm value-add/development deals in an acq/AM function. None of the smaller shops require IB experience at all and would actually value your (highly) institutional experience.
Thanks for the reply, exactly the kind of feedback I’m looking for. I mean the latter, ~$5-10B shop or so but not necessarily thinking an operator, thinking specifically smaller REPE companies that maybe act more as capital allocators.
Separate but relevant point, I think a lot of the traditional food groups in RE are played out and the best way for smaller investors (which I hope to become) is to invest on the periphery of what’s mainstream (ex. IOS or MH 5 or 6 years ago) or to take on more risk in distressed deals, unloved asset classes, etc.
Curious to hear your thoughts.
Sint excepturi ea et in omnis. Inventore repellendus quidem laborum aut officiis repellat. Repellat rem quo ipsam dignissimos perspiciatis neque. Quam ratione iure reprehenderit laborum autem earum corrupti cum. Rerum necessitatibus dolor laborum et cupiditate. Sapiente ea est nostrum ratione omnis earum.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...