Hedge Fund vs. Investment Sales (HFF)
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an internship vs a full time offer? I would say this is a no brainer.
Assuming these are both internship, it depends entirely on your interests and career goals. These are two completely different paths.
I'd say the hedge fund so you get principal investing experience, even if its on the lending side vs. brokering. $600M is a solid size fund. HFF wouldn't be a bad option as well, given name brand, etc.
It completely depends on what you want to do in the long run. I imagine most people on WSO would argue the hedge fund route, "because hedge fund," but bear in mind that in CRE, HFF is an institutional name just one notch beneath Eastdil, and depending on the group/office you're considering, it might provide you with a pretty solid segue into a REPE/REIT/development career path.
I think I would go with the hedge fund for sure. I've said it before and I'll say it again, I think that any role where you are putting out money (debt or equity) is better than being a broker (there are some exceptions). If this question was hedge fund debt vs. HFF debt/equity placement then it would be a lot closer. I personally think HFF debt/equity placement is a lot stronger than HFF investment sales, but obviously every market is different.
Also, to go a step further, I think that at the top shops the debt/equity placement guys are stronger than IS guys almost every time. At the core HFF is a debt/equity placement shop, that's where their roots are. But are they also good a investment sales? Uh yes, duh. IMO if it was Eastdil investment sales then I would probably take it.
I've been kind of thread jacking a lot lately but if someone wants to start a new thread on debt/equity placement vs. IS I can go into more detail and I'm sure it would be a good discussion.
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