I was wondering if anyone had heard of this firm, supposedly a real estate Asset Management branch of Oaktree's portfolio. Was curious about the firm's reputation, exit ops, etc.. in the REPE/ Operator industry.
Thank you!
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speaking of, has anyone who interviewed with them heard back?
Saw one of their analyst exit to Blackstone a few years ago. Think the group is well regarded when it comes to asset management roles. Have heard it's long hours relative to most in asset management
What do you want to know?
Newer firm, from what I understand kind of gets stuck with the stuff that the people at OakTree don't want to deal with, similar to BX's AM portfolio companies - LivCor ect. but under one umbrella so you cover all asset types.
The team is all people under 30 and then principals. You get nice pay and bonuses but are limited in the fact that it is straight cash (no carry, no coinvest, no equity) which implies that the only reason someone would pay you cash like that is because they are making more money on the other end for your work.
High turnover, heard this is better now since they hired alot more people so people are less over whelmed that said people may have been leaving due to the great exits that appear after working there.
Young shop fun people and a younger vibe to it, seems to be a good place for AM overall.
Full disclosure: didnt work there but got very far in the process and really looked into this before taking employment elsewhere, looking back kinda wish I wouldve taken it.
Echo that. Got offer from there and declined as well. Its been 2 years from then and it seems they brought on a plethora of young smart well educated people.
Not so sure I liked how they sell the Oaktree aspect of it. Made me feel as if I were interviewing to play on the JV team. Fuck that shit. I remember some VP kid from Bellwether was real insecure and tried real hard to link Bellwether and Oaktree (cited they "get to go work at the Oaktree office in LA" - as if I give a fuck about that), but when I asked about compensation and carry pool, there isn't any link. Bellwether is just getting the AM Fee and none of the incentives, what kind of bullshit is that. There was a bonus to employees but it's not tied on the promotes and incentives earned by the funds.
I was especially annoyed at how these Corporate PE shops that are looking to get into RE (BX, Oaktree, Apollo etc) are trying so hard to keep their headcounts low, which is hard to do due to the labor-intensive nature of RE. Hence why these type of firms like Bellwether exist, so they can asset manage for these prestige whores PE funds. It's sad to see firms like Bellwether exist because they're just feeding into this system of "keeping a low headcount". Though I'm sure Bellwether employees are paid well, it's just fucked up they're not getting to eat the pie, just the leftovers and crumbs.
Regardless, if you're still young in your 20s it seems like a fun place to work. You'll get paid well and have a great brand on resume. Seems as though it's 50/50 male and female demographics so it'll be more fun that what most of us in RE are experiencing.
Yeah, deff some younger and fun people there, who would be cool to be friends with. Everyone seems young and fun. Which is the polar opposite of most RE firms where you are with a few senior people and the only one under 25 around ever.
Delete. Delete. Delete.
Delete. Delete. Delete. Delete. Delete. Delete.
Interesting timing on this one. I am only familiar with them because I just got a notice that Tom Maher's Wells Fargo correspondence group was just sold to Bellwhether.
Just an update for those of you who are doing recruiting and happen to have interviews with Bellwether. They are making a MASSIVE effort to change their reputation in the RE community. For the longest time they have been viewed as the JV team of Oaktree. From the inside connections I have with the company, the higher ups are really bugged by this reputation and now are mandating that their intern/analyst pool come from the Ivy League.
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