Possible to break into PERE from traditional IB route?
Currently an intern in a BB investment bank working in a traditional coverage group (not REIB), so apologies if I'm missing some important information here in regards to the industry.
I had the chance to join the firm's RE group but opted to join the over coverage group as I understand how niche the RE industry can be and wanted to develop a broad skillset while I still have the chance. However, I've had a strong interest in the real estate space given my involvements in some real-estate organizations at my school. In thinking about what I would like to do post-banking, I've considered RE acquisitions/development over traditional PE. My question is, is it possible to break into PERE from a traditional banking role? Or is it much harder and I'm better off transferring to a REIB group before I can make the jump?
Realistically, would be aiming for traditional RE-specific funds (CBRE Global Investors, JLL, Starwood, Lone Star, Brookfield, Hines, etc.) over megafunds with PE arms.
Thanks for any help you can provide!
I’ve seen people go from regional boutique M&A shops (non-re) to REPE firms with a few billion under management. So yeah your situation is definitely possible. You just have to really sell “why real estate”.
I’m guessing you already have some sort of real estate internship under your belt, which will make it easier. The megafunds would probably appreciate someone with your background more than the target groups you listed
Edit: saw you listed Starwood, lone star, Brookfield. Those groups also recruit IB analysts. I’m not sure which ones are more open to non-re IB analysts
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Sure fire away
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