Path to the Buyside
Hey guys, currently working on the sell side at a BB broker. Looking to make the move to a Buyside RE firm. Open to elite boutique REPE funds as well, depending on the firms brand, but would prefer large cap buyside RE. I’ve worked on a couple dividend recap deals on the sell side so would be open to secondaries fund as well.
Any idea on the best path to make it the coveted buyside? I keep hearing all of my recruiter friends talking about how that’s where everyone wants to be
Before you travel this path, you must learn the way.
As an elite real estate professional, you do not venture forth through the unyielding forest of finance slang untethered, blind to the enemies around you. In these woods, the acronym REPE stands as the katana of precision, slicing through the murkiness that surrounds the broad finance term "the buyside." Just as a samurai's blade is forged with purpose and expertise, so too is "REPE," which stands for Real Estate Private Equity - a direct reflection of the art and strategy involved in the acquisition and management of real estate assets.
"The buyside" is akin to a blunt, general blade that could serve many purposes, but lacks the razor-sharp focus needed for the specific discipline of real estate investment. It encompasses all manners of investments, from stocks to bonds, without honing in on the unique practices and strategies of this esteemed tradition.
By wielding the term REPE, you demonstrate a mastery of the specialized knowledge required for real estate investments. It is a term that speaks with clarity and precision, indicating a profound understanding of the acquisition, development, and management of real estate assets. It is a weapon forged for those who walk the path of real estate, cutting through ambiguity and delivering sharp insights into the heart of this noble investment discipline.
Here, in these hallowed halls, we argue about whether REPE or PERE is the true abbreviation. We make multiple threads, every single year, asking about REPE comp. We ask if something is REPE when it clearly isn't. We argue if REPE or development is a better starting point. We confuse asset management being boring with it being unimportant. We recently have a newfound obsession with putting the word "path" into our thread titles.
What we don't do is talk "buyside" or "sellside," because no one in the industry talks like that and it makes us sound like a weird little brother to other investment vehicles in finance. Here, there is but one side, and that side is tangible.
*Teleports behind you*
Nothing personal, kid.
“That side is tangible” lmao. That got me so good
A bulge bracket broker. Now that's a new one.
Wtf is a bulge bracket broker lol
No idea, but it sounds elite as fuck. OP is going to go far.
Come on, you know the bulges. CBRE, Cushman, JLL, and Eastdil.
Marcus and Millchap is basically Moelis.
Us mega fund guys refer to these guys as BBs all the time. You would know this if you were actually at a mega fund like me. Lmao
I’ve had a couple MDs from MM banks send equity requests to my desk and it’s always a bummer. Like dude please read the last email I sent - we do not have capital for your negative leverage retail rollup
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