Seeking Advice: Lateral from a $3B fam office to local MM firm? RE veterans, please throw your two cents.
I am a third-year analyst at a family office seeking advice on lateraling. We invest in core/core-plus assets around the country and AUM is north of $3B. Due to their permanent capital, the family (see IC) makes a lot of investment decisions based on the qualitative features of an asset (see trophy asset) rather than the returns analyses. Recently, things have gotten quite political at the office, which has resulted in high turnover and a huge drop in productivity. I don't see this going away soon and think it may be time to leave.
I landed an offer from a smaller, opportunistic shop that primarily deals with local assets. Management is very smart and has a track record of producing outsized returns. The team is lean and has an AUM of $200MM. I think this is an excellent learning opportunity.
The answer seems obvious but I can't bring myself to give up some aspects of the current job. We have had meetings with the likes of Sam Zell and have been pitched high profile institutional deals (both RE and non-RE). The smaller platform will not offer the opportunity to participate in meetings like these.
My long term goal is to either:
A.) Go off on my own
B.) Work my way up to head of investments/transactions or portfolio manager at an existing shop.
I know what I have to do to bring myself closer to this goal but am looking to WSO veterans. Can the industry veterans give some insight here? Appreciate it.