REPE Firms

Hey guys,

Im very interested in the real estate private equity industry, but not sure where I can go to find a list of reputable firms. I am aware of the PERE Top 50 list, but I know there are more solid firms out there. How would I go about finding elite boutiques and even larger investment managers who may not crack the top 50?

Thanks

 
Best Response

Check out this old AMA, https://www.wallstreetoasis.com/forums/ask-me-anything-repe-investment-…

re1098:
REFinance13:
I would be very interested in learning your path to getting a position at your current company and recommendations you give to others in the recruiting process.

I am currently in acquisitions at a smaller REPE group and am actively looking to make the jump to a large REPE firm. I've made personal connections at many of the main funds, but the story is similar, that there aren't currently any positions open. How do you suggest finding available openings beyond searching the job boards and networking? I know there have been many general forums about this topic, but I am interested specifically in these smaller acquisition teams at the large funds.

Also, do you recommend connecting with outside recruiters?

In addition to the job boards (SelectLeaders, LinkedIn) and networking, I'd recommend reading the industry periodicals (RE and Commercial Mortgage Alert grapevine section) and getting in touch with real estate-focused headhunters (Amity, Glocap, Bellcast, SG, CPI). There have been a ton of open positions in the past six months alone from what I've seen.

For me, I was able to source my current role from one of the above methods. My network also came into play - real estate is a small world, and some trusted former colleagues who were familiar with my current team were able to vouch for me.

I'd continue to keep doing as you're doing, and follow some of the suggestions above. One last thing - keep working and stay focused at your current role. When the time comes where you need a recommendation, a glowing review will likely seal the deal for you.

 

There is also a value-add/opportunistic operator called Foundry located in Boca. Interesting business model and growing too. Main focus is office, industrial, and retail throughout the SE.

 

Hi desai3152, yes, I'm a bot, but I'm also good looking. Hopefully, these threads help you:

  • Some notes from a few weeks in Mid-Market PE sell-side.-There is way too much competition for deals in mid-market PE. There are a ton of shops and they're ... I just started as first-year (straight from undergrad) at a decently sized Mid-Market PE shop ... mid-market shops. You need to either focus on a sector or find some other expertise and stick with it. ...
  • Internship at no-name PE firm or mid-market bank? one is for a research position at a mid-market bank, and the other is an internship at an unknown ... in Private Equity eventually. I have no banking experience whatsoever. I have two offers right now, ... private equity firm. I don't want to do research for my career. Which one would be best to accept? Is ...
  • Mid-Market PE Valuations: Where Up is Down knowledge, but underneath this picture is the activity in the middle-market of private companies; an area ... that has some surprising facts of its own. Traditionally, middle-market firms tend to be laggards of ... past few months, we were involved in a competitive sale process to acquire a niche-market retail ...
  • mid market PE recruiting has a lot of firms already been interviewing in new york and sf? whats the time line for most. ... heard bigger firms such as golden gate and silver lake already begun. thanks ...
  • Reading material helpful for PE analyst at mid-market firm analyst? I'm a first year analyst at a mid-market European firm. This is my first job out of undergrad ... Does anyone have suggestions for reading material that would be helpful for a mid-market PE ... and as is usually the case with small firms, there is no formal training. I'm learning day-to-day ...
  • Do 10- to 20-man mid-market M&A shops use Greenwich Associates? Do 10- to 20-man mid-market M&A shops use Greenwich Associates' reports on strategic ... acquirers' evaluations of their I-banks (the banks in the surveys are obviously larger firms)? Would they ... data still be useful to the tiny 10- to 20-man M&A advisory shops in evaluating calling efforts and ...
  • Best European mid market buyout funds What do you think are the best European mid market private equity firms in buyout in London? Is ... speaking several European languages a truly competitive advantage to work at those PE firms or just an ...
  • More suggestions...

If we're lucky, the following users may have something to say: Broskavich Matt-Yogerst Cedar

Fingers crossed that one of those helps you.

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

Please read again initial post, I'm checking 1 by 1 the list of 136, just wanted to verify that's the best list available **"Any firm you recommend in particular which is hiring now?

Also, how are salaries/bonuses/lifestyle in this area vs Hedge Funds (both discretionary/systematic), PE firms, IB, Consulting or PropTrading firms?"**

 

Not an exhaustive list, but should get you started on the right path. The following are the top 30 real estate private equity firms for 2010 (based on capital raised) as ranked by PERE News. All of these firms, particularly the top 10, are operating at full throttle and have done a decent job of staying afloat despite the industry's recent contraction.

*Full Disclosure: I'm an acquisitions analyst for one of the top 10 firms listed below, and would be happy to answer any more questions you or anyone may have regarding REPE.

  1. The Blackstone Group
  2. Morgan Stanley Real Estate Investing
  3. Tishman Speyer
  4. Goldman Sachs Real Estate Principal Investment Area
  5. Colony Capital
  6. LaSalle Investment Management
  7. Beacon Capital Partners
  8. The Carlyle Group
  9. MGPA
  10. Lehman Brothers Real Estate Private Equity
  11. CB Richard Ellis Investors
  12. Westbrook Partners
  13. Starwood Capital Group
  14. AREA Property Partners
  15. Prudential Real Estate Investors
  16. Rockpoint Group
  17. daVinci Advisors
  18. Grove International Partners
  19. Hines
  20. Lubert-Adler Real Estate
  21. RREEF Alternative Investments
  22. Walton Street Capital
  23. Citi Property Investors
  24. Angelo, Gordon & Co
  25. Bank of America Merrill Lynch Global Principal Investments
  26. Shorenstein Properties
  27. Lone Star Funds
  28. Heitman
  29. Aetos Capital
  30. Rockwood Capital
 

I would say most of NPV positive is correct, although you might want to pare through the list

-goldman - i was pretty sure they were getting out of most of the opportunistic side of real estate, ie the whitehall funds, i may be mistaken though. i did possibly hear they were going to be starting a fund under their asset managment arm to invest in core assets however -Lehman= winding down from what I hear as well - they have a decent amount of legacy assets, but they most likely are not hiring =Ciit Property Investors - bought out by Apollo Global Management (another one you may want to look into) -bank of america merrill lynch - I thought they sold their opportunistic funds to Blackstone?

Other than fhat from what I understand, the rest of the list looks ok. TPG, KKR, and a few other shops are looking to get in on the real estate game. basically whatever funds are in the process or have just completed fundraising are your best bet because 1) it usually shows that their track records or prestige is good enough that they are able to raise funds in a difficult environment, 2) because they are raising funds, they will probably need incoming analysts for anything from acquisitions to asset management, etc.

I would check out perenews.com if you hardcore about it. The have stories all the time about RE PE firms. The ones that are buying or funding, as said before, are probably the ones you want to focus on.

 
funkyrealestatemonkey:
I would say most of NPV positive is correct, although you might want to pare through the list

-goldman - i was pretty sure they were getting out of most of the opportunistic side of real estate, ie the whitehall funds, i may be mistaken though. i did possibly hear they were going to be starting a fund under their asset managment arm to invest in core assets however -Lehman= winding down from what I hear as well - they have a decent amount of legacy assets, but they most likely are not hiring =Ciit Property Investors - bought out by Apollo Global Management (another one you may want to look into) -bank of america merrill lynch - I thought they sold their opportunistic funds to Blackstone?

Other than fhat from what I understand, the rest of the list looks ok. TPG, KKR, and a few other shops are looking to get in on the real estate game. basically whatever funds are in the process or have just completed fundraising are your best bet because 1) it usually shows that their track records or prestige is good enough that they are able to raise funds in a difficult environment, 2) because they are raising funds, they will probably need incoming analysts for anything from acquisitions to asset management, etc.

I would check out perenews.com if you hardcore about it. The have stories all the time about RE PE firms. The ones that are buying or funding, as said before, are probably the ones you want to focus on. -

A little bit more on the some RE PE shops mentioned above:

  • GS is winding down Whitehall and now planning to focus on core deals
  • Lasalle is pretty active right now, however, they just lost a huge client - CalPERS...but it's a $40MM+ AUM shop
  • RREEF got whacked pretty hard during the recession -the big "America" REITS took a hit - but it's a great shop.
  • Lubert is definitely active
  • Pretty sure Citi and BAML are out of the biz
    • KKR is pushing to get in
  • Appollo's group spun off into AREA
 

wow thanks guy this helps a lot and I really appreciate it. Let me look into all of the above and if I come across more questions I will let you know. Again, thanks so much.

 

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