Hedge Funds and Real Estate

Can anyone speak about hedge funds that have REPE funds (Paulson, Och-Ziff, Fortress)? Do they operate like typical REPE groups (BX, Starwood, AG, Colony)? Is it similar investments, lifestyle, compensation? Who do they typically recruit (undergrad, lateral, mba)? I ask as I am in the process of deciding which real estate shops to focus on and whether there is a difference between RE teams at hedge funds and private equity firms.

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