Trials and expectations of a real estate graduate – The Property Chronicle
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Trials and expectations of a real estate graduate Two recent grads share their experiences of starting a career in real estate private equity

Up and Coming

Graduates throwing mortarboards in the air

Patrick and Jordan graduated in 2014 from the same undergraduate real estate degree. This is their personal experience from university to life as recent investment professionals within mid-sized private equity real estate firms in London. This will be a regular column focused on their personal experiences in interview/dialogue form.

Patrick: To start this thing off, I believe that whilst we were at uni, the highest level of accomplishment and achievement was a career in one of the mega buyout funds that have the strongest brand/prestige within the industry, maybe naively so. What do you think?

Jordan: I think that was definitely the case at the time, as the exposure and access to smaller funds was a lot less simply by the nature of their size. I mean, a lot of us got off our second year internships at investment banks or real estate brokerages and had a taste of the investment side that was quite enticing.

P: I remember that everyone was going on and on about joining the large US PE houses. That’s not to take away from the many benefits of starting at small to mid-tier level funds that have a more flat hierarchy, flexible investment strategies and higher level of responsibility. I mean we both work for funds with AUMs in the single digits rather than tens or hundreds of billions.

J: Yes definitely and speaking for myself I think that it was a good move for my professional development. Having said all that, didn’t you have a “superday” interview session at one of the larger PERE funds?

P: Please don’t remind me of the darkest 10 hours of my life…

J: You’re just bitter because they didn’t take you.

P: Not going to lie, maybe a little bit, but I think in hindsight it was for the better.

J: Why is that?

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