Relatively New RE Equity Platforms
I'm doing some diligence on a company I received an offer from. It's a relatively new firm (founded within the last 5-15 years) but they have done some big deals, have raised meaningful amounts of money and hired people with great backgrounds. When joining a PE platform, the goal is generally to move up, become a deal manager / acquisitions lead, get carry, etc. But I still like to see that people who leave the company for whatever reason land on their feet.
I see it as a good sign if former employees are still working at great companies or started their own platforms that are doing well. Although there are other factors at play (eg was this employee competent, does he / she interview well, did this person hate real estate, does this person have family money, etc), if many former employees aren't doing well, it means there is a chance that the role was not a net positive to their career.
So basically, I'm looking for comps to this company so I can compare "exits" even though that's not what I plan to do. Are there any RE Equity platforms founded within the last 5-15 years you can think of that fit the same criteria (solid fundraising, deal history, and employee backgrounds)?
I'm mainly looking for comps as I said, but feel free to tell me why it's a bad idea to look at where former employees are - I think my logic is sound although there are definitely exceptions where it doesn't make sense to consider others exits
NW1 Partners and Jadian Capital
Thanks those are perfect examples
Henderson Park (for Europe)
Declaration Partners...backed by Carlyle founder
Bumping this thread - any new shops in the past 5 years that are similar to those mentioned above?
in the market we've had the past four years? fuhgeddaboutit
They might be nascent but Town Lane is a pretty recent example of this kind of firm. Founded by ex-BX head of RE acquisitions and his sister. Raised a $1B+ opportunity fund right out of the gate.
Very few over the past few years as fundraising has been difficult for everyone. Town Lane is one of the few. There's also a lot of smaller groups I keep tabs on (think ex-Blackstone/Starwood/KKR/Brookfield with top MBAs) who are very nimble with no legacy assets from the last cycle.
Makarora, founded in 2023. We met with them earlier this year, very sharp people. Their founder was a senior exec at Blackstone, and it appears they only hire people from the top shops. Sounds like their fundraising is going well - they play in both the credit and equity space.
This place is so sick - but yes seems like they only pull form BX Acq and the like
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