PE arm of Pension Fund (TIAA-CREF)
Anyone have any experience with an investment analyst position coming out of undergrad for the PE arm of a Pension fund? If so what sort of pay, career progression, and exit ops are available? Possible to move to traditional PE/HF or equity AM?
Seems like there is some mix of PE fund/co/secondaries, private placements, and infrastructure/ag/utilities investing experience for this position.
If anyone has experience on the LP side and can give some perspective on the role would be great.
is this with Covariance capital?
no, through internal private markets team
I have no knowledge of this group, but if it is purely a co-investment play, don't expect it to lead to traditional direct investing (PE, HF). Could have potential in an asset manager though. Many big funds have these types of strategies, but you won't gain the proper level of experience as you would with the sponsor that TIAA is piggybacking off of (in many cases TIAA isn't going to do extensive DD, just doubles up w/sponsor).
If it is a subsidiary funded by TIAA that actually invests in majority or majority stakes, private placements, project finance without being involved heavily with a syndication or sponsor group, it should be solid.
I would guess it is more of the former though, based on how many asset managers or FoFs are structured.
Thanks peinvestor2012 that was helpful,
I believe it to be the former as well as I got the impression that it was more focused on reviewing the proposals/mandates that the sell side and sponsors bring rather than doing the initial due diligence. Although because of their size I think they may be more direct and involved.
Worry for me is that I end up stuck in the L.P side of things, when I am more interested in the fundamental investment analysis/research side. Any idea how are these non-profit AM firms like TIAA viewed on the street and by b schools?
bump
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