Real Estate Private Equity Vs. Acquistions -- What's the difference?

The two are not mutually exclusive. You can have different fund structures where you are vertically integrated for example. Also, real estate pe funds can source acquisitions, although the operator usually does that. Acquisitions is a broad term and can apply to buying the buildings outright or partnering with operators on purchases.

Real Estate Private Equity is a business model. Acquisitions is a department, job, role, or position.

Real Estate Private Equity companies often have acquisition teams and personnel.

Respectfully, I don't think your question makes much sense. REPE firms have acquisition teams? Acquisitions is just a division with a real estate company...whether it's PE, traded REIT, etc...

This goes to the above response.

Now if you wanted to know the differences of working in acquisitions for a PE spot vs a traded REIT...that is an interesting topic, which has been discussed here relatively recently

Think of it as a venn diagram with a majority of the acquisitions circle contained within the REPE circle. A REPE firm raises capital, leverages the equity raised and purchases assets through the acquisitions team.

Assuming they have an open fund and are looking for investments, a REPE firm wouldn't be successful without an acquisitions team - in order to generate returns for investors, capital raised must be allocated towards an asset that expects a return similar to or greater than is expected by the investors. However, a REPE firm can say that they are no longer raising capital, and, therefore, are no longer looking to acquire assets. At this point the firm is essentially saying they're done growing the business and will cash flow the current assets until they've decided to dispose of them. At which point they'll still need a dispositions team to sell the asset and acquisitions are pretty similar to dispositions (modeling, due diligence, etc.).

I say that a majority of the acquisitions circle is contained within a REPE circle because one can still acquire an asset without being backed by a REPE firm (i.e. when someone decides to buy their first house, an investment property, hell a tricycle for that matter).

Overall, this question blows and perhaps you should purchase that tricycle (with training wheels) and take a couple laps around the block before posing such a rudimentary question to the site...only reason I'm answering is because I'm sitting here waiting for Memorial Day weekend and figured I would have some fun.