PE to trading
Anyone ever make this jump?
I am about 6 months away from making snr aso (4 years of total work experience) at a $1bn fund but I’ve lost conviction that PE / deals / privates is for me.
I want the velocity, intensity and the interaction that I think markets, and trading in particular, has.
1) Am I crazy?
2) Are there desks in particular that I would have some transferable skills for? Equities is most logical but from what I understand, not that great opportunities for equity traders. Distressed maybe? Anything else?
appreciate any advice
Lol I want to reverse from CMBS trading to REPE Acquisitions
Grass always greener I guess
Could you touch on this thought process a bit for a student interested in both areas? Thanks!
For me personally, I never really wanted to get into this business but it was an opportunity to break into Commercial real estate. My current role is more of an assistant to the true traders with expectation to promote me to jr trader in the future. In trading, I get very little exposure to the asset/ property level work. Also the pay is not great for me for the amount of work I'm doing, and I don't even know how much my bonus will be albeit this is my 1st year. I'm not sure how much my bosses aka the actual traders are making but they are not balling in my opinion but I know we are pretty much the most important part of our company and everyone depends on us. I know I'm very lucky to be in this position but what excites me is property level research and analysis. In fact as we are doing our trade prep, we get a chance to read the underwriting narratives of these properties and my eyes light up. Not a fan of sitting in the office on Bloomberg all day crunch numbers and reading about literally everything that could impact a trade, real estate or not.
Following. Similar question from IB...
wdym by the opportunities aren't that great for equity traders?
Credit - IG, high yield, leveraged loans, liquid CDS indices probably wouldn't be too much of a reach from PE (assuming you have a good understanding of investing across the capital stack).
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