I have two first round phone interviews with Blackstone this week (SA positions) and am hoping to get some insight. One of my best interview experiences. So there is a difference then? I interviewed at The Blackstone Group (New York, NY). In January it hired former Brown University endowment. Mostly fit interview. 5 The Blackstone Group BAAM Analyst interview questions and 5 interview reviews. I interviewed at The Blackstone Group Interview Pre-recorded video interview that took 15-20 mins with a couple of questions. Hope some of you guys find this useful. Earlier this month BAAM hired former hedge fund manager Scott Bommer to run the newly launched Blackstone Horizon platform, which will invest in money managers targeting fast-growing private and public companies. I had a chance to meet about 7 of the people I will be working with, all of which were really friendly and easy to talk to. BAAM has produced attractive risk-adjusted performance - Since the institutionalization of BAAM's business in 2000, on an annualized basis the BAAM Principal Solutions Composite is up 6.77%, outperforming: + HFRI FOF Composite Index (+3.77%) + HFRX Global HF Index (+3.56%) + MSCI ACW TR Index (+3.19%) + S&P 500 TR Index (+3.60%) First question should i consider moving. I applied through college or university. You should also brush up on your technical knowledge of the position you're applying for. and Blackstone Alternative Solutions L.L.C., BAAM's affiliated advisors. Soussa, a senior managing director in the companys Blackstone Alternative Asset Management unit (BAAM), is leaving for another opportunity but has agreed to remain at Blackstone until the end of the year. Glassdoor has millions of jobs plus salary information, company reviews, and interview questions from people on the inside making it easy to find a job thats right for you. Gravity. The business oversees $7.4 billion in assets. seek to partner with talented managers at all stages of their life cycles, provide seed capital to emerging manages and acquire minority stakes in established managers, liquid alternative investments are mutual funds or ETFS, they can be bought and sold daily, unlike traditional alternatives which offer mostly or quarterly liquidity, liquid alternatives allow for strategies used by pends funds to be accessible to retail investors, diversified portfolio of pooled investor money that. or Want to Sign up with your social account? what does investing through portfolio of hedge funds means? Land More Interviews | Detailed Bullet Edits | Proven Process, Land More Offers | 1,000+ Mentors | Global Team, Map Your Path | 1,000+ Mentors | Global Team, For Employers | Flat Fee or Commission Available, Build Your CV | Earn Free Courses | Join the WSO Team | Remote/Flex, College / University / On Campus Recruiting. This was not necessary in my interview but I've found that always helps. The process took 5 days. Blackstone is the world's biggest investor in hedge funds and its BAAM unit manages $79 billion in assets. bump on day-to-day operations and analyst responsibilities. The process took 2 weeks. simooms? I interviewed at The Blackstone Group (New York, NY) in Jan 2015. Find the modes, medians, and means of the scores. - Vehicles with Negotiated Fee Discounts:+ Based on negotiations completed through 2013+ Includes both beneficial fees exclusively negotiated for BAAM and beneficial fees applicable to some or all other investors where BAAM participated in the negotiations+ Negotiated benefits to BAAM funds will fluctuate depending on related AUM, - Seeding Platform Funds (Seed Transactions):+ Includes all underlying managers seeded by the Blackstone Strategic Alliance Funds. Blackstone BAAM- FoF? It has been expanding this year. Veniam ipsam ab nihil natus. 1/35. I felt like everyone was very open, energetic, and had only good things to say about working there. MAQ Software with 13.5 LPA Quantitative Strategist (Vice President). Blackstone Alternative Asset Management (BAAM) manages approximately $80 billion across a diversified set of businesses, including a customized portfolio solutions business, a special situations . Flipping a coin infinitely many times, does the pattern HHT or HTH is more likely to appear? I applied through college or university. Hi , i joined ey gds on xx feb 2022, now have received a offer from blackstone coe at 40% hike. You can't do business from there." J. Tomilson Hill, CEO of BAAM and Vice . Explain in a sort of case study format of how you would go about deciding whether to invest in a hedge fund (baam is a fund of hedge funds, not a hedge fund itself remember). Was contacted by a recruiter, came in 2 weeks later. - Largest discretionary allocator to HFs in the world+ over $20 bn larger than the next largest fund of hedge funds competitor, - Separated from traditional competitors+ 31% AUM CAGR since 2001 for BAAM, compared to 13% for other fund of funds over $1 billion+ 18% AUM CAGR since the end of 2008 for BAAM, compared to 5% for other fund of funds over $1 billion, - Meaningful business diversification and product innovation+ One of the largest hedge fund seeders in the world over $2.6 billion deployed over 2 funds+ Creation of Special Situations Investing Group $5.4 billion deployed+ LongOnly solution business utilizing hedge fund talent $3.4 billion in AUM+ Significant growth opportunity in the liquid registered fund market $1.5 billion raised to date+ Purchasing of GP interests in established hedge funds closed on $1.4 billion, expected to close on up to $3 billion in total, - Institutional composition of BX's client base provides the business with stability+ Emphasis on transparency, knowledge transfer and investor education+ Institutional investor base allows for customization and innovation, - Flows from existing investors remain the majority of BAAM's gross external inflows, - BAAM has maintained strong financial performance across major metrics, - Industry Dynamics Have Supported BAAM's Rapid Growth, - Hedge Fund investor base is now predominantly institutional, - BAAM expects individuals to return, albeit a different market segment (retail) requiring more liquid, regulated investment vehicles, - Pension Funds are increasing allocations to hedge funds:+ A majority of institutions, including pension plans, endowments, foundations and insurers, reported increased hedge fund holdings last year+ Pension funds, in particular, are increasing their hedge fund investments, with over 60% of them having increased such holdings in 2012+ 65% of investors, including 79% of institutions, targeted returns between 5% and 10% for their hedge fund investments in 2013, - DoddFrank, Basel III, and other global regulatory changes are reducing the ability of investment banks, commercial banks, and insurance companies to compete with hedge funds, - Human capital is leaving the sell side as it is forced to reduce capital allocation to opportunistic and quantitative trading strategies, thus increasing the flow of top talent to hedge funds, - The market recovery has heightened entrepreneurial ambitions for talented asset managers seeking the most favorable compensation structures, - Total capital invested in hedge funds exceeded $2 trillion for the first time in 2012, - Hedge funds represent less than 2.0% of global financial assets, - Average 10year rolling Sharpe ratio of 1.2 for the HFRI Composite, - Since the institutionalization of BAAM's business in 2000, on an annualized basis the BAAM Principal Solutions Composite is up 6.77%, outperforming: + HFRI FOF Composite Index (+3.77%)+ HFRX Global HF Index (+3.56%)+ MSCI ACW TR Index (+3.19%)+ S&P 500 TR Index (+3.60%). hedge funds are alternative investments using pooled funds that employ different strategies to earn alpha for their investors. See here for a complete list of exchanges and delays. Find a Great First Job to Jumpstart Your Career, Stand Out From the Crowd With the Perfect Cover Letter, How to Prepare for Your Interview and Land the Job. Count includes customized vehicles, vehicles with negotiated fee discounts, seeding platform funds and coinvestment deals that occurred during each year presented.+ Volume does not double count (i.e., where a vehicle is customized capacity and has a negotiated fee discount, that vehicle is counted only once). Glassdoor has millions of jobs plus salary information, company reviews, and interview questions from people on the inside making it easy to find a job thats right for you. We do this by using extraordinary people and flexible capital to help companies solve problems. Want Access to these Blackstone Group Interview Insights? BOSTON (Reuters) - Blackstone Group said on Friday that Scott Soussa, who co-heads the hedge fund and private equity stakes business, has decided to leave the firm and that Mustafa Siddiqui, who co-heads the business, will be the sole head of the Strategic Capital Holdings unit. If accounts receivable are equal to $80,000, what is the value for average daily credit sales? What is the probability that one appears before the other? Was interviewed for 15 minutes by 2 MDs and 1 VP. Interviews BAAM BAAM Status: at Blackstone Group Group/Division/Type: City: New York, United States Interviewed: March 2011 Overall experience Positive Difficulty Difficult General Interview Information Outcome No Offer Interview Source College / University / On Campus Recruiting Length of Process Less than 1 month Interview Details Follow us: Linkedin, IG, Facebook, Twitter. One of my dream jobs. 101 Investment Banking Interview Questions, 2014 Alpha Summer - BAAM's J. Tomilson Hill, Certified Non-profit Professional - 3rd+ Year Associate, Certified Private Equity Professional - Vice President, Financial Modeling & Valuation 2-Day Bootcamp OPEN NOW - Only 15 Seats, Venture Capital 4-Hour Bootcamp - Sat April 1st - Only 15 Seats, Excel Master 4-Hour Bootcamp OPEN NOW - Only 15 Seats, Venture Capital 4-Hour Bootcamp - Sat May 20th - Only 15 Seats, 6 courses to mastery: Excel, Financial Statement, LBO, M&A, Valuation and DCF, Elite instructors from top BB investment banks and private equity megafunds, Includes Company DB + Video Library Access (1 year). Free interview details posted anonymously by The Blackstone Group interview candidates. No Reproduction Without Prior Authorizations. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). This case explores reasons for Blackstone Alternative Asset Management's (BAAM's) growth from 2007-2013, a time when the overall fund of hedge funds industry contracted substantially. Has anyone interviewed with either of these groups before and can shed some light? Will resigning before is not considered continuous service. 150+ Past Interview Questions & Model Answers. 300+ video lessons across 6 modeling courses taught by elite practitioners at the top investment banks and private equity funds -- Excel Modeling -- Financial Statement Modeling -- M&A Modeling -- LBO Modeling -- DCF and Valuation Modeling -- ALL INCLUDED + 2 Huge Bonuses. Omnis reprehenderit similique quidem optio possimus voluptas amet. All quotes delayed a minimum of 15 minutes. Some of the technicals were difficult, but the interviewers were very patient and mostly looked at your approach to the problem. What they do on a day-to-day basis, what they're looking for, exit opps? what does manager seeding and general partner ownership mean? I then had one more slightly longer phone interview, followed by a final interview in New York. Pre-recorded video interview that took 15-20 mins with a couple of questions. Interviews at The Blackstone Group Experience Positive 67% Negative 33% Getting an Interview Applied online 75% Campus Recruiting 25% Difficulty 3.0 Average Hard Average Easy Interviews for Top Jobs at The Blackstone Group Analyst (52) Summer Analyst (44) Software Engineer (21) Intern (20) See more interviews for top jobs Full database access + industry reports: IB, PE, HF, Consulting, 25k Interviews, 39k Salaries, 11k Reviews, IB, PE, HF Data by Firm (+ more industries). As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. - Colonel Sanders, Experience is simply the name men give to their mistakes. The process took 2 weeks. Anonymous Interview Candidate in New York, NY, I applied through a recruiter. I had a phone interview first that took 30 minutes and was mostly fit. Nash, who co-founded Blackstone Real Estate Debt Strategies, will become chairman of the GP Stakes platform. WSO Content & Social Media. - Miami-Fort Lauderdale, FL, United States Area. Hill will step back from the day-to-day operations and transition to a new role as chairman of BAAM, maintaining strong investor relationships and providing strategic advice to the senior management team. 2005-2023 Wall Street Oasis. Find a Great First Job to Jumpstart Your Career, Stand Out From the Crowd With the Perfect Cover Letter, How to Prepare for Your Interview and Land the Job. Click card to see definition . I interviewed at The Blackstone Group (New York, NY) in Oct 2015 Interview This employer has not claimed their Employer Profile and is missing out on connecting with our community. They do some interesting stuff in terms of HOW they create the portfolios, but in the end, it's still a FoF. Interview Questions Tell me about yourself. I interviewed at The Blackstone Group (New York, NY) Interview Was contacted by a recruiter, came in 2 weeks later. Blackstone Alternative Asset Management (BAAM) has partnered with some of the world's leading investors since 1995. ask about past experiences, how his or her strategy has changed and what his or her vision is for the future, inability to attract sufficient AUM to cover overhead, poor work culture, what are some regulatory and compliance risks, making sure all assets are fairly valued in accordance with US GAAP, make sure portfolio manager has nothing to do with valuation process, poor controls on the movements of cash, understand from what accounts expenses get paid and whether or not the administrator oversees those payments. I applied through college or university. Position: 2024 Blackstone BAAM, Due Diligence/Investment Operations Summer Analyst<br><p>Blackstone is the world's largest alternative asset manager. Joe Dowling, Blackstone Global Head of BAAM, said:"David and Atish will be key leaders in BAAM and are excellent additions to the team. - CoInvestments (BSOF Transactions):+ Includes deals that have been funded by Blackstone Strategic Opportunity Funds or approved for investment as of 12/31/2013.+ Deals that have been approved for investment but not yet funded are not included in the percentage of BAAM AUM in negotiated structures. Updated For 2023 Interviews. Reporting by Svea Herbst-Bayliss; Editing by Dan Grebler. I interviewed at The Blackstone Group in Jan 2011. Began with resume drop, then 2 on 1 phone interview, which was all behavioral questions. Please help me with referal. Expert tips from current & past 11+ Interviewers. It will be lower for managers that act like big indexers because alpha has been arbitraged out. Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. This employer has not claimed their Employer Profile and is missing out on connecting with our community. Their experience and networks will help us make better. ". Olivia keeps interrupting other speakers and dominates the discussion. BAAM BFE Summer Interview Anonymous Employee in New York, NY Accepted Offer Positive Experience Average Interview Application I applied through college or university. Opens the Fishbowl by Glassdoor site in a new window, Real Estate Debt Strategies Summer Analyst (3), Real Estate Private Equity Summer Analyst (3). I know that BAT is different from BFE, but not exactly sure how. This employer has not claimed their Employer Profile and is missing out on connecting with our community. All Rights Reserved. 3.2,3.2,3.5,3.7,3.4, provide access to alternative investment strategies through portfolio hedge funds, registered liquid funds, direct investing, manager seeding and general partner ownership. John P. McCormick will succeed J. Tomilson Hill as president and chief executive of Blackstone Alternative Asset Management (BAAM.) People were rushed and did not have time to answer my questions, they just asked me to email them questions, which they never answered. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. On Fishbowl, you can share insights and advice anonymously with The Blackstone Group employees and get real answers from people on the inside. I interviewed at The Blackstone Group (New York, NY) in Jan 2015. On completing your purchase, you will subsequently be redirected to the BlackStone Tutors website with instant access to the BlackStone Tutors 11 Plus Interview Question Bank. Anonymous Interview Candidate in New York, NY, I applied online. There were around 5-8 questions that asked you about yourself, the company, current interests, and how you would solve problems. One is for their Alternative Asset Management Group (BAAM - hedge fund solutions) and the other is for Real Estate Debt Strategies (BREDS). Our $951 billion in assets . Optio at architecto ea molestiae. Job title almost similar . Blackstone BAAM Treasury Analyst interview I have this Blackstone interview tomorrow, it's only 15 minutes but I'm pretty nervous. Exclusive Insight From 11+ Interviewers. Can't find much on WSO either. Know your resume inside and out, otherwise you will get stumped. They're the world's largest fund-of-funds. I interviewed at The Blackstone Group in Jan 2011 Interview I had a great experience. Dowling will oversee BAAM's investment activities going forward, while McCormick will oversee BAAM's business and investor functions. Match. 3.2,3.2,3.5,3.7,3.43.2,3.2,3.5,3.7,3.4 Tell me about yourself. Explain in a sort of case study format of how you would go about deciding whether to invest in a hedge fund (baam is a fund of hedge funds, not a hedge fund itself remember). Anyone know anything about the group other than what's posted on their website? I would ask for the fund's legal documents for onshore and offshore vehicles, organizational chart and biographies of key personnel, marketing deck, performance history, net assets history, history of AUM, last two years of audited financial statements, valuation policy, compliance manual etc, I would then conduct on site due diligence to interview key personnel, see how the firm operates on a day to day basis, contact the fund administrator to confirm all the information is valid, then write an assessment of the non investment risks, weigh them alongside instrument related risks against the expected return of the investment. I had a phone interview first that took 30 minutes and was mostly fit. build customized portfolios of alternative investment strategies, institution caliber investment exposures to individuals and their financial advisors in easily accessible, registered funds, liquid, open end and closed end funds, directly invest in special situations and other differentiated opportunities. Private Equity, Asset Management, Hedge Funds, Investment Banking. Interested as well. Glassdoor has millions of jobs plus salary information, company reviews, and interview questions from people on the inside making it easy to find a job thats right for you. What should I make of this, what would it be like, and how is it viewed? Ea totam illum et maiores delectus. 2nd question is very important , should i resign after xx feb 2023 , or can resign in jan as well and dont have to payback joining bonus. And what attracts you to the FoF space? I felt like everyone was very open, energetic, and had only good things to say about working there. Typical superday in the office with 4 1 on 1 interviews. Position World's largest discretionary investor in hedge funds 1 with $80 billion in AUM 2 People Large investment team with experience across all of the key investment strategies Process Kept digging and asking more and more questions about what I did there. Depends on the manager. Everything on there should have a story behind it. I interviewed at The Blackstone Group in Jan 2011. Mostly fit interview. Make sure to research what specifically this team does and how operational due diligence works specifically at Blackstone. Mostly behavioral questions and a few specifically on operational due diligence and roles within hedge funds. The process took 2 weeks. Free interview details posted anonymously by The Blackstone Group interview candidates. hedge funds require less SEC regulations. J.Tomilson Hill will become chairman of Blackstone Alternative Asset Management. Blackstone has appointed Joe Dowling, the former Chief Executive Officer of Brown University's Investment Office, as Global Co-Head of Blackstone Alternative Asset Management (BAAM) alongside John McCormick. The process took 5 days. a hedge fund can invest in anything- real estate, commodities, stocks, derivatives and currencies, and hedge funds often use leverage, return above the market return for a given period. Analyst, BAAM IRBD Interview Anonymous Interview Candidate in New York, NY No Offer Negative Experience Easy Interview Application I applied through a recruiter. Asked in depth questions on the resume. Thanks so much for this! I am having 7YoE in accounts and finance. Copyright 2022 BlackStone Tutors. Click again to see term . Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Our Standards: The Thomson Reuters Trust Principles. Nice job! What is the probability that one appears before the other? Learn More $80B Investor Capital Under Management 26+ Year Track Record 115 - Customized Capacity Vehicles:+ Includes funds where BAAM is the sole external investor and funds with which BAAM has negotiated guaranteed capacity. Some of its most prominent successes include Senator Investment Group, New Mountain Capital, Francisco Partners and Leonard Green. How do monsoons differ from shamals and if the investor is willing to tolerate the risk, I would then invest, hedge fund portfolio solutions, registered funds, special situations, and general partnership stakes and seeding, what do hedge fund portfolio solutions do, deliver institutional caliber investment exposure to retail investors, seed capital to emerging managers, and minority stakes in established managers, what are the 3 pillars of the BAAM due diligence process, strategy and risk management, legal and product structuring, bFE, what does strategy and risk management do, focuses on researching different asset classes, they have an equities team, global markets, quant, also have a team dedicated to deploying capital to strategic capital group also has a team focusing on special situations, what do legal and product structuring due, how we facilitate investments in those Hedge fund businesses, mix of attorneys and non attorneys that negotiate legal documents, Fundamentals of Financial Management, Concise Edition, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, Don Herrmann, J. David Spiceland, Wayne Thomas. Payments are made through our secure external payment provider. Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling. Greenwood, Robin, Luis M. Viceira, and Jared Dourdeville. Don't forget to check the attachments. I have multiple offers currently in hand. WSO depends on everyone being able to pitch in when they know something. In the context of the current fund of hedge funds industry, the case considers challenges and opportunities for these potential new areas for growth. Total YOE : 4.5. Additionally, the case analyzes evolving business models and value propositions within the fund of hedge funds industry. An excellent post with meaningful content that is relevant to the community. What exactly does BAAM do? Our stakes business has tremendous momentum partnering with world-class GPs and we are quite excited about whats to come, Gray told Reuters ahead of an announcement of the changes. - Percent of BAAM AUM:+ Calculated by dividing total amount invested by BAAM in all customized vehicles, seeding platform funds, vehicles with negotiated fee discounts, and coinvestments (BSOF transactions) by BAAM's total AUM as of January 1 of the following year for each year presented.+ For purposes of this slide, BAAM includes Blackstone Strategic Alliance Advisors L.L.C. Et sed numquam sequi nemo. This case explores reasons for Blackstone Alternative Asset Management's (BAAM's) growth from 2007-2013, a time when the overall fund of hedge funds industry contracted substantially.