Associate, Real Estate Secondaries

Ares Management; Boston (MA); On-site; USD 160,000 - 175,000; Full time

Benefits offered by this job

Comprehensive medical, dental & vision

401(k) with company match

FSA/HSA options

Life and disability insurance

Employee assistance program

Commuter benefits

Job summary

Ares Secondaries seeks an Associate to join the Real Estate Secondaries Investment Team in Boston. You will evaluate opportunities through due diligence, financial modeling, and market analysis, supporting investment decisions and portfolio oversight.

The role requires 2–4 years in related real estate investing with strong modeling, communication, and relationship-building skills. Compensation includes base salary and robust benefits in a collaborative, high-performance culture.

Qualifications

• 2–4 years of experience in real estate secondaries or related roles.
• Strong academic record and leadership abilities.
• Advanced financial analysis, valuation and modeling including DCF, NAV, portfolio valuations.
• Familiarity with real estate investment concepts and transaction structures.
• Ability to work independently and in collaborative deal teams.

Responsibilities

• Evaluate real estate secondary investment opportunities through due diligence and financial modeling.
• Analyze LP/GP-led transactions, continuation vehicles, and real estate assets.
• Assess performance across multiple real estate sectors and asset classes.
• Prepare and present investment recommendations to committees and team.
• Support execution, monitoring, valuation, and portfolio oversight.
• Build relationships with sponsors, operators, and advisors.

Skills

Financial analysis

Valuation

Communication

Relationship-building

Education

Bachelor's degree in finance/real estate

Tools

Excel

DCF modeling

Portfolio valuations

NAV analysis

Job description

Over the last 20 years, Ares’ success has been driven by our people and our culture. Today, our team is guided by our core values – Collaborative, Responsible, Entrepreneurial, Self-Aware, Trustworthy – and our purpose to be a catalyst for shared prosperity and a better future. Through our recruitment, career development and employee-focused programming, we are committed to fostering a welcoming and inclusive work environment where high-performance talent of diverse backgrounds, experiences, and perspectives can build careers within this exciting and growing industry.

Job Description

Ares Secondaries has pioneered and innovated within secondary markets across three decades and a range of alternative asset classes, including private equity, real estate, infrastructure, and credit. Over the course of our 30-year history in this space, we have invested across thousands of partnership interests, driving highly differentiated and proprietary transactions through our deeply established relationships with institutional investors, fund sponsors, and market advisors. Today, Ares Secondaries has more than 150 professionals across six offices in New York, Boston, Dallas, London, Hong Kong, and West Hartford, Connecticut. Ares Secondaries is a market leader across GP-led, LP-led, and preferred equity structured transactions.

As the team continues to grow, the firm is currently looking to hire an Associate to join our Real Estate Secondaries Investment Team in our Boston office.

Key Responsibilities

• Evaluate real estate secondary investment opportunities through detailed due diligence, market research, benchmarking, and financial modeling.
• Conduct quantitative and qualitative analysis of real estate limited partnership interests, GP-led transactions, continuation vehicles, and underlying real estate assets and portfolios.
• Analyze property-level and fund-level performance across a variety of sectors, including multifamily, industrial, office, retail, hospitality, self-storage, data centers, and other real estate asset classes.
• Prepare and present investment recommendations to investment committees and the broader investment team.
• Support the investment team in transaction execution, portfolio monitoring, asset management oversight, and ongoing valuation analysis of existing investments.
• Build industry relationships by engaging with real estate fund sponsors, operating partners, advisors, consultants, and attending industry conferences and sponsor meetings.

Education / Experience Required

• 2–4 years of experience in real estate secondaries, real estate private equity, investment banking, principal investing, or other real estate-focused investment roles.
• Strong academic record demonstrated leadership abilities, and excellent communication and relationship-building skills.
• Advanced financial analysis, valuation, and modeling capabilities, including property-level cash flow modeling, DCF analysis, NAV analysis, portfolio valuations, and fund waterfall structures.
• Familiarity with real estate investment concepts, transaction structures, and market dynamics across private real estate funds and direct property investments.
• Ability to work independently and thrive in collaborative, fast-paced deal teams.

Reporting Relationships

Managing Director, Secondaries

Compensation

The anticipated base salary range for this position is listed below. Total compensation may also include a discretionary performance-based bonus. Note, the range takes into account a broad spectrum of qualifications, including, but not limited to, years of relevant work experience, education, and other relevant qualifications specific to the role.
$160,000.00 - $175,000.00
The firm also offers robust Benefits offerings. Ares U.S. Core Benefits include Comprehensive Medical/Rx, Dental and Vision plans; 401(k) program with company match; Flexible Savings Accounts (FSA); Healthcare Savings Accounts (HSA) with company contribution; Basic and Voluntary Life Insurance; Long-Term Disability (LTD) and Short-Term Disability (STD) insurance; Employee Assistance Program (EAP), and Commuter Benefits plan for parking and transit.
Ares offers a number of additional benefits including access to a world‑class medical advisory team, a mental health app that includes coaching, therapy and psychiatry, a mindfulness and wellbeing app, financial wellness benefit that includes access to a financial advisor, new parent leave, reproductive and adoption assistance, emergency backup care, matching gift program, education sponsorship program, and much more.

There is no set deadline to apply for this job opportunity. Applications will be accepted on an ongoing basis until the search is no longer active.