RE Pension Fund (Acq) compared to REPE (Acq/AM)
Hey everyone,
I've seen a couple previous threads on RE Pension Funds acquisitions teams (think CalPERS) compared to a REPE AM position and the comments seemed somewhat split. I am more interested on the career trajectory starting out in a large pension funds acquisitions team vs starting at a REPE firm in AM/Acquisitions. Does the switch from the former to the later occur often? How much less detailed is the work (from what I've read, the underwriting is less in depth than the actual GP's would be)? Can you be pigeonholed? Is compensation significantly lower at the beginning stages in Pension Funds? Basically, if anyone has the time, a high level overview of the pros/cons comparing the two.as I am unable to find much info on career trajectories in RE Pension Funds and am interested in learning more.
Thank you all and I apologize if this has been posted before, I could not find anything.
(Note: This is for the analyst level)
Are you talking about a team that is an actual direct investing platform in real estate, or one that manages the real estate allocation primarily via investment managers?
A lot of the big like pension funds (like CalPERS in particular) are growing their direct platforms, but I am not sure mean that or mean the traditional real estate investment management side of a pension fund.
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