IB to REPE? How To Prep

Currently pursuing a career in Real Estate but I will be interning at a BB for my junior summer. Given I have very little chance of interning in the REIB group, what other group should I aim for? Would it be smarter to recruit for REPE funds FT or should I do 2 years in banking as I want to shoot For MFs (think Starwood, Bx, Brookfield, Carlyle etc). I am also completely lost when it comes to preparing for RE interviews, any useful resources? Any insight would be greatly appreciated

Comments (11)

Most Helpful
Jul 16, 2020 - 5:07pm

If you aren't going to work in the REIB group, I would aim for a group where you are doing cash flow analysis and structured finance. So TMT, while sexy, will not be as applicable as a more boring industrials group. M&A groups are probably best, complex deals, structured finance packages, and it will sound cool later of (especially if you participate in a big deal).

I would maybe look at FIG, those groups sometimes service real estate capital companies. It would be interesting for sure. Hospitality, Leisure, Gaming (or whatever your bank calls it) would be interesting as well and is essentially 'real estate'.

Jul 16, 2020 - 5:10pm

Thank you for the reply.
How would joining a group such as Restructuring/Levfin/financial sponsors be perceived? Would RE funds still care about the strength of the group or mostly the transferrable skills and expertise?

Array
Jul 16, 2020 - 5:32pm

Yes, that group sounds good (actually may be a form of a FIG group by the sound of it), seems like it should have lots of deal making, structured finance (debt for sure), and be fast paced.

To you question, most employer at all stages of the game ONLY care about transferable skills, expertise, and experience. Fancy names or 'known' teams don't really DO anything for your next employer. They may help you get noticed or get introduced, but really, that is very minor factor and not even at play here (since you said you would not be working in REIB). Go with the group that gives you the best experience and ability to actually learn and do stuff. Deal volume matters a lot, better busy on a so-called 'lesser' item than sitting around doing little at a 'prestige' place.

  • Investment Analyst in PE - Other
Jul 16, 2020 - 5:42pm

You're gonna need to craft a good story as to why real estate. Passion is one of the most important things as real estate isn't actually particularly hard or complex.

Especially coming from an ib group that isn't real estate have a good story as why you want to do real estate.

  • Analyst 1 in RE - Comm
Jul 16, 2020 - 6:18pm
Incoming Analyst in IB - Gen:

What about coming from an EB rather than a BB REIB

makes no difference. this is not the IB forum where we debate what EB is better than BBs. all of the advice mentioned already will apply to you as well

  • Incoming Analyst in IB - Gen
Jul 16, 2020 - 6:20pm

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