How to Get Into a Megafund's RE Arm Out of School?
Senior monkeys and real estate gods,
I am a senior in at a semi/target school, with a decent GPA, who always found investing interesting. I dug deeper into this and decided that I want to pursue real estate investing to start my career. While there are pros and cons to being at a large fund vs. a local investor or developer, I have realized that I would like to have an aerial view of real estate instead of focusing on a specific market right away. Thus for internships, I managed to work at multipe well known global institutions (think life co, pension funds, endowments, sovereign wealth funds, family offices, etc.) investing across the capital stack in real estate. However, I have envisioned myself to work at a private global investor for various reasons. Call it picky and unrealistic if you want, but I have thought really hard about the pros and cons of working at these shops. I know that I want this and came close to recruiting for a few of them the last time around, so I want to keep trying.
For those of you who are working in Megafunds (, BAM, Starwood, Carlyle, , Ares, Apollo, Oaktree, etc.) in the real estate group, how did you get in? What was your background like?
How did you or your colleagues who came out of undergrad get in? What were the most important things that drove success? Simply applying, networking, being a local or target student?
If you are on the recruiting team for these types of firms, what do you look for in candidates and, if possible, what do your interview processes look like for college students? How many rounds do you usually have, are your technical questions more RE related or IB/ corp fin too, is there a modelling/knowledge test,?
Does your firm hire in a typical timeline for Analysts or is it on an as-needs basis?
If you were in my shoes, what would you be trying to do most? Keep up to date with market news, continue practicing modelling tests, networking, applying, etc.?
For modelling practice, which source would you use and why -, ACRE, REFM, other?
I know I threw out a bunch of questions right now, anything would be greatly appreciated!