Moving from RE Operator to REPE

Any success stories out there on moving from the operator side into a private equity role without an IB background?

Private Equity Interview Course

  • 2,447 questions across 203 private equity funds. Crowdsourced from over 500,000 mem.
  • 9 Detailed LBO Modeling Tests and 15+ hours of video solutions.
  • Trusted by over 1,000 aspiring private equity professionals just like you.

Comments (11)

Mar 13, 2019

Curious about this as well...

Most Helpful
Mar 13, 2019

I moved from a Development Associate role to Investment Sales and Debt/Equity brokerage to REPE. That said, our culture is unique and the managing partner I work under cares way more about experience/knowledge than university or investment banking "prestige".

Having serious experience with development management and operations is way more valuable than being able to model exotic financing structures. The most critical part of my job is to underwrite partner risk - what is the probability of our developer/operator delivering on time at presented cost and stabilizing the property at or above the presented rental rates and NOI margin?

    • 3
Mar 16, 2019

Awesome - which market are you in?

Mar 18, 2019

Maybe try to get a operations position at a pe firm that manages their own properties.

Mar 18, 2019

I moved from tenant rep brokerage to owner/operator to REPE

It took a lot of persistence and willingness to work for less than market pay but in the end I could not be happier.

Learn More

Side-by-side comparison of top modeling training courses + exclusive discount through WSO here.

Mar 18, 2019

We would love to get an operator acq guy. I personally don't know of any stories but I'm positive it's possible.

If you're not doing acq. at an operator, say property management, it would be tougher. maybe good to go brokerage or debt first.

Mar 18, 2019

Owner/operator here. I flirt with moving to REPE. Feels like it would be double the hours for double the pay.

Mar 18, 2019

An acquisitions guy at a top institutional owner/operator (SL Green, Vornado, etc) would be a deadly addition to a REPE shop.

Also, a lot of owner/operators are basically like REPE who raise funds and just act as the GP.

Are you talking about moving to an LP?

Mar 18, 2019

Yes, thinking of moving over to an LP. We do raise funds but they are tiny and therefore our compensation is lower. But hours are decent here as there are only a few principals giving out work as opposed to 50+, narrower geographic scope, etc..

Mar 19, 2019

As an owner/operator trying to get into REPE it has been a rather frustrating experience so far. Our deals are generally a few zeros smaller than most firms I apply to and it seems that the experience is discounted because of this. While I am sure that there is a good fit out there, it has been harder than anticipated.

Mar 19, 2019