REPE to Gaming/Leisure PE shops?

Has anyone ever seen analyst/associate make the move from an asset-level REPE shop (MM) to a gaming/leisure focused PE shop? Realize that traditional PE is a tough move in general, but wasn't sure if the gaming/leisure shops were more open to laterals from an asset-level shop, especially since most of their associates come from REIB groups which people say pigeon-hole you in the same way. Any insight is appreciated.

Thanks

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3 Comments

jss09

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I dont know of many gaming/lodging PE shops but I would assume their associate come from product groups, other coverage sectors, and gaming IB. However, I think with the recent shift to REITs with MGM and CZR you could have a good chance as selling yourself with that angle.

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Authored by: Certified Hedge Fund Professional - 3rd+ Year AnalystCertified Hedge Fund Pro

prospie

?

9y

"jss09"
I dont know of many gaming/lodging PE shops

Right. Hotels there are plenty of equity shops but gaming? You asked about the middle-market. Casinos tend to be fucking massive so almost by definition you're NOT investing in the same space as those who invest in middle-market lodging deals. instead, you're talking about names like Fortress, TPG, Morgan Stanley, apollo.

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Macchiavelli11

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REPE to Gaming/Leisure PE shops?

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