I'm seeing a few job postings for analyst work at UBS. What's the reputation of the firm? It seems like a big name based on the Investment Bank, but it doesn't appear to be on any "Top PERE" statistics and it doesn't seem like they have raised any money on the Top 50/100 PERE lists.
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The PERE list is only for capital raised for opportunistic. Most IBs that have a Real Estate Arms (JPM, GS, MS, DB, UBS etc) mostly raise core/value add capital, which is why they dont appear high on these lists (to just get a pure aum ranking look at ipe or irei rankings).
Their flagship fund is steaming pile of shit. They reshifted leadership to try and address the issue. Have a huge backlog of draw requests. Would avoid unless you have no other options.
They used to a big time leading name in real estate investment mngt, like they pioneered all sorts of products and funds (big time in REIT sponsorship/banking). They have gone under the radar for sure in past decade (lost a lot of the team after 08). The above poster might be correct on the flagship fund, but I have no idea personally (note, they have big open end type funds, which are not eligible for ranking in the PERE 100 list, that list is really of very limited value tbh, not good for assessing firms in all reality). Website says they have $95 billion USD in AUM globally, which makes them 'mega fund' by status in real estate (not sure how that breaks down by fund class, asset class, debt v. equity, etc.).
The name is still "household" in my opinion, so if started a career there and wanted/needed to exit, I'm sure you would do okay. Is it the name that everyone "fights" to go work for today? nope, but that may be a smart reason to pursue it.....
One final warning/caveat... I've heard they moved a lot of the RE team to Connecticut (and not just Stamford...), that can be a downside to many (like bro... you don't work in NYC.. stop pretending lol).
What do you mean by REIT sponsorship / banking?
Are you talking about the investment banking arm that does deals at the company level (i.e. merges two real estate companies together)?
They sponsored early day REITs and even were part of some countries creating REITs (like Japan), and yes the IB platform certainly performed a lot the work, but their "real estate" team was "newer" and not so broken out (this was true industry wide).
Back in 80s/90s, real estate wasn't anywhere close to as institutional as it is today. Not all banks had dedicated "REIB" desks and "RE asset mngt/invt. platforms", this was a more modern occurrence in the 00s. Real estate and RE firms were not "sexy clients" like they are today, so banks like UBS and DB (a lot under the old Bankers Trust name) actually were very competitive and helped push the industry forward. Gotta spend time with the "old timers" in this business, it's history is actually really cool.
Their team always was HQ’d in CT. In Hartford. Not only is the fund failing, but the city they’re located as well.
Yeah, Hartford would be a big no for me. Back in pre-08, they had a decent part of the team in NYC, but in the cuts/debacle of the GFC, they called pretty much all but a few holdouts (like early day "remotes") to CT offices.
I work for an institutional shop and our PM team sends out the relative index returns on a quarterly basis. Every quarter, UBS is bottom 3 if not last.
Also, pretty sure they are mainly in disposition mode right now.
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