Starting career in REPE
Hi all - I have recently been hired at a small repe shop in a primary market. My background consists of interning for a year at a private asset manager and a year at a family office. The investment team at my new firm consists of 5 people including myself, and I am the youngest by 15-20 years. We have 3 biz dev folks and about 5 back office. All of my seniors have been in real estate their whole professional careers.
Over the past 15 years the firm has been great at raising money from HNW families and smaller institutions for its funds. Within the past two years the firm has decided its prudent to pivot. In the past the firm focused on smaller deals in the 5-10mm range where we would buy at large discounts and make entitlements, horizontal development etc and sell to a developer. While we are currently raising a fund for that same activity, pivot has been stepping into MUCH larger development deals. The leadership has the background to make this happen I believe, albeit with growing pains.
I’m really looking for wisdom from someone who has been in a similar spot in terms of being young on an investment team. I’m taking the ACRE accelerator to get up to speed on the industry. I get to sit on every call and work very closely with my superiors which has already afforded me a great deal of knowledge my first month on the job. Any tips or pieces of advice on how to support my seniors/firm would be greatly appreciated.
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