Jumping to Acquisitions from Agency & Balance sheet lending
Hey all, basically what the title says.. is there anyone who has made this jump recently in NYC/SF/LA/CHI? It seems like a natural transition but sometimes I see people posting about how you’d probably need an MSRE from at least NYU or better.
I know there have been plenty of similar posts in the past, I’d just love some encouragement or at least hear first hand experiences on how the jump was and what made it easy/difficult for you.
For context I’m at a big non-bank lender (CBRE/Berkadia/Walker & Dunlop) focusing on agency loans and bridge loans (balance sheet) with some pref equity/mezz stuff as well. I sit directly on a production team that usually very busy. Ive been on the team for 2 years and got pretty good at the job! I feel like I could stay a little longer and then move on? We made a killing last year, but bonuses are looking much tighter this year and its made me start to think of my next step. Thanks in advance
Bump
Have head hunters in my inbox pretty frequently and I’m in the same role as you at one of those 3 firms.
It won’t be a problem getting into an acquisitions role, however, given market conditions, it’s unlikely there are any acquisitions roles out there atm.
Ive had a few reach out as well it but hasnt really materialized since I haven’t put much effort towards getting a new job yet. Im hoping more people chime in about how interviews have gone as well as how they perform once there
Bonuses are tightened up across the board in most cases, so I wouldn't let that be your motivation for leaving.
You're in a great spot, just need to be ready to strike while the iron is hot. I made this exact jump 3 years ago.
In the meantime, I would suggest building out your network and sitting down 1-1 with some of the clients you have good relations with and explain your interest. While these jobs are few and far between right now, most people opine that the second half of '23 will be active on the acquisition front.
Doesn't hurt to brush up on your modeling skills either... be prepared to do a 10-year DCF from scratch at minimum... could include waterfalls/pref pieces depending on how sophisticated the shop is. Best of luck!
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