The front page of the Wall Street Journal today reported that the moguls of private equity have, not surprisingly, had a blowout year. Nine founders of four of the largest PE firms took home more than $2.6 billion in 2013, which is more than two times their take home the prior year.
Leon Black was the big cigar, with a paycheck of almost $546 million. On the other end of the spectrum, George Roberts took home a measly $165 million. I bet his wife is going to be embarrassed at the club.
The big wins this year are primarily the result of cashing out of investments made prior to the great recession that were viewed as “dogs”, but are now are producing huge wins, such as Blackstone's investment in Hilton Hotels that recently held an initial public offering.
Happy days are expected to continue on this year as the titans of PE Land continue to harvest handsome gains on more old dogs.
Sponsored Job
ROSS STORES, INC.
Real Estate Law Attorney/Director
(DUBLIN, CA) Position will provide or obtain legal services for the departments of the Property Development Division of Ross Stores, Inc., its subsidiaries and related companies. Objective is to negotiate and prepare legal documents and perform other real estate legal services on an in-house basis in order to minimize outside legal fees, while building in-house expertise. Duties include: preparing documentation for new and existing store, office and warehouse facilities; negotiating and drafting leases; supervising and reviewing the preparation of memoranda of lease and other related documents by paralegals; reviewing due diligence lease materials and analyze the impact on the lease and transaction; preparing lease amendments and letter agreements, as requested by Management; and approving change of Landlord entities.
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SELECTLEADERS
Real Estate Investment Banking Analyst
(NEW YORK, NY) Our client, Hammond Hanlon Camp LLC, is an independent, healthcare-focused strategic advisory and investment banking firm with a dedicated real estate practice. Analyst will produce offering memoranda, creating and managing pro forma cash flow projections and financial models; assemble client or prospect presentations; manage investor databases and communicate with prospective investors; work directly with Vice Presidents and Managing Directors related to transaction execution and new business development; and oversee the work of first-year Analysts and be involved with training and development of junior level bankers.
CIM GROUP
1st Vice President, Asset Management
(LOS ANGELES, CA) Position will have overall responsibility for asset management of stabilized assets in a given region, asset type and/or portfolio. Duties include overseeing management of assets to achieve maximum NOI for each property in assigned portfolio; provide direction and oversight to Regional VP and other members of the Property Management team; coordinate with other internal departments on issues such as budgeting, expense monitoring, contract implementation, risk management and the like to enhance returns and mitigate risks; conduct due diligence, review, negotiate, and comment on all key documents; and oversee day-to-day interaction/negotiation with CIM internal departments, attorneys and outside parties throughout the life-cycle of the asset by executing the approved business plan.
PULTE GROUP
Strategic Marketing Analyst
(IRVING, TX) PulteGroup's Strategic Marketing department guides strategy and due diligence for residential land acquisition across the Company's 50 markets. Position will be responsible for operations within the Texas Area (just under 4,000 closings/year and with $800M revenue). This position covers the Product, Price, and Placement P's of marketing but does not cover Promotion (marketing communications, advertising, etc). Additional duties include assisting in completion of market research section of due diligence feasibility documents for new projects; managing feasibility tasks, including conducting fieldwork; and gathering data from the competitive database(s) and other secondary sources, and compiling/formatting information in appropriate format.
FANNIE MAE
Data Management Analyst III
(WASHINGTON, DC) Position will establish, maintain, and communicate standards for recording, searching, and reporting data kept in the enterprise's databases and warehouses. Position will also document data flows, data mappings, perform data lineage analysis as required by various enterprise projects; confer with other technical staff to plan database conversion projects, or to establish large scale mining, reporting, or data display exercises; and lead technical assistance to data projects or operations to maintain enterprise-wide standards and attain more efficient use of data resources.
PALMER CAPITAL INC.
Capital Markets Partner
(ROSEVILLE, CA) Palmer Capital is an independent real estate capital markets firm that specializes in the acquisition, disposition, financing and capitalization of office, retail, and industrial properties. Firm has closed over $20 billion in investment sales and finance transactions, primarily in the Western United States. Palmer Capital's model has been constructed around a collaborative team of over 30 partners, industry veterans that have substantial experience in an advisory capacity and as principals in the commercial real estate industry.
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Senior Associate
(SANTA MONICA, CA) Our client, Eastdil Secured, a wholly-owned subsidiary of Wells Fargo, is a real estate investment banking firm that provides its clients with transactional services focusing on the sale, financing and recapitalization of real estate assets. Position will function as an integral part of the retail deal team and must have the ability to effectively interface with senior management and clients. Primary responsibilities include creating financial models using Excel and Argus software for financial analysis of retail investment properties; due diligence review; transaction execution; training analysts; preparing presentation materials; and interacting with clients and investors.
UDR
Sr. Analyst-Development Accounting
(HIGHLANDS RANCH, CO) Position will prepare, develop, and analyze development accounting information following established policies and procedures in compliance with Generally Accepted Accounting Principles (GAAP); provide financial and contract analysis for development projects working with the Development Analyst and Construction Management; manage all procurement and contracting aspects of construction projects by formatting and preparing proposals or contracts for legal review and coordinating with legal department; and assume accounting, contract, reporting and analysis while delivering a high quality of service and project deliverables.
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