REPE Asset Management vs Development
I recently turned down an offer from a REPE fund as an asset management analyst to stay at my current development firm.
I'm currently 24 and work as an Investment Analyst at a real estate development firm that focuses on luxury residential and Class A+ office buildings. The company isn’t huge in terms of employees, but we’ve developed over 20 million square feet. Lately, though, things have slowed down—the partners are more focused on retirement than on growing the business.
Since our investment team is just four people, I get exposure to pretty much everything. Even though my title is analyst, my role is more like an associate—I work on debt and equity financing, financial modeling, investor presentations, legal matters, daily operations, and project oversight (sometimes even marketing, architecture, and fiscal strategy).
A few weeks ago, a REPE fund reached out, and after a few interviews and a financial modeling case, they offered me a role as an Asset Management Analyst. The fund is small but growing fast, focused on luxury hospitality (think high-end hotels in Cabo), and was started by former MDs from top boutique investment banks. They have fewer than 10 employees, and since they’re still in the early stages, they mentioned I’d get some exposure to acquisitions and fundraising—but at the end of the day, my main job would be asset management.
The thing is, I’ve never really been into asset management—development has always been my passion. My long-term goal is to lead my own developments, so in the end, I decided to stay where I am.
Did i make the wrong choice?
Based on the most helpful WSO content, your decision to stay in development aligns well with your long-term goal of leading your own developments. Here’s a breakdown of the key considerations:
Alignment with Long-Term Goals:
Skillset and Experience:
Growth Potential:
Current Firm’s Trajectory:
Industry Insights:
Final Thoughts:
You didn’t make the wrong choice if development is your passion and aligns with your long-term goals. However, keep an eye on the trajectory of your current firm. If opportunities to grow or work on new projects diminish, consider exploring other development-focused roles that can continue to build your expertise and network.
Sources: REPE Megafund Asset Management Comp, Am I screwing myself or perfecting my craft?, Brokerage vs REPE Asset Management, Career Advice: Family Office (RE Developer) --> MBA --> REPE, What are the Roles within Real Estate Private Equity?
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