I'm a senior and trying to figure out what the different types of personalities are in each role. Are people in acquisitions risk seeking? While others are more risk averse? I'm trying to figure out where I would fit in the best.
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Can’t say there is one personality type. A lot of it will depend on the firm type.
For example, at a firm where the team is investing in the $5MM-$20MM space, there will be more “off market” deals. Or deals where a broker contact calls and says I have this deal coming out in a week, are you interested at $xx price, if so it’s yours. Tell me in 24 hours. It’s more of a go out there and source and be on top of the brokers and respond quickly.
Above $20MM you start to be in a space that is fully brokered and marketed. Brokers won’t do the “off market, tell me tomorrow” as their clients will want a full marketing process to make sure they achieve a full price - top dollar. You will still be chasing brokers and riding in front of them, but they will come to you if you are at a known shop to try and get a bid.
In terms of asset management, it’s a slower pace. But it’s same no matter where you work (in my humble opinion). Asset managers need to have strong networks as well. Similar to acquisitions folks, instead of being brokers and market participants, it will be consultants and fixers. Things will inevitably go wrong and you need to know the right consultant to fix your issue - the fixers.
Risk seeking, in my opinion, doesn’t define where you end up. You can be a risk seeking asset manager who does opportunistic investments and manages those deals. You can be a non risk seeking acquisitions professional who works in Core acquisitions. I wouldn’t define it as risk seeking vs not.
What type of consultants do Asset managers higher ? And when you mention things that go wrong can you explain further as to what the consultant would do in that situation ?
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