Can anyone comment on comp, hours, culture, exits, etc. for RCLCO's institutional advisory platform that was rolled out in 2016? Seems like they fly pretty under the radar, but have some heavy hitting clients (think CalSTRS, Alaska Permanent, GPIF). Any input would be greatly appreciated!
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I haven't worked there since the mid-2010s so others may have more recent data, but the program has existed since around 2010 when they won business for the Arizona State Retirement System (ASRS). From 2010-~2016 it was a one of their 5 practice groups and functioned more like an outsourced real estate department for ASRS. The work was similar to what Townsend or other advisors do, but was heavier on the actual real estate underwriting and looking at deals. GPs would send us the deals they wanted to invest in and we would underwrite them on behalf of ASRS.
They've since expanded the platform significantly with their other mandates, which I wasn't there for, but my understanding is that the work on newer accounts is closer to what a more traditional pension fund consultant looks like vs. the more involved ASRS platform.
Comp - can't comment here, but I've heard the pay is in line with what other fund consultants pay (no idea what that is)
Culture/Exits - I liked the culture when I was there, they hire smart, hard working people. I don't know if they've fixed it since I left, but staffing/hours weren't always consistent/great.
Exits - Most people I knew went to developers, REPE firms, etc. you can definitely get interviews at good/MF shops from there (I had a few that I botched back in the day).
This is super helpful, thank you sir. I've got a good idea of what base salary looks like, but can you give context on bonus percentages for associates / senior associates?
I was there before they formally split RCLCO Fund Advisors and their consulting business and I've heard it's improved significantly on the Fund Advisor side. I can only speak to when I was there. Associate bonus % was roughly 15% to 25% and Senior Associates were 35%+.
So I just took a trip down memory lane to look at my offer letter - I'm guessing this has changed, but I'll PM you the language that it said.
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