Initial meeting with the hiring manager, followed by a long interview to meet many members of the team. The gross exposure is one indication of the level of leverage in a portfolio. What is something about you that we cannot see in your resume? Any allocation by Blackstone to a subsidiary or other affiliates (such as BRESSA) benefits The Blackstone Group Inc. and any redemption or reduction of such allocation would be detrimental to The Blackstone Group Inc., creating potential conflicts of interest in allocation decisions. The Waterfall team performs intensive cash flow stress testing and due diligence on distressed situations. Does anyone know if compliance at Blackstone etc. Anonymous Interview Candidate in New York, NY, I applied online. - Miami-Fort Lauderdale, FL, United States Area. BRESSA, a wholly-owned subsidiary of The Blackstone Group L.P. and an affiliate of BAIA, is an investment adviser within the Blackstone Real Estate Debt Strategies group (BREDS). WSO depends on everyone being able to pitch in when they know something. It all adds up to more than $1.27 . Be the first to find this interview helpful. Common stages of the interview process at The Blackstone Group according to 34 Glassdoor interviews include: 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. Additionally, the case analyzes evolving business models and value propositions within the fund of hedge funds industry. Commodi voluptate perspiciatis omnis eligendi sit. Prepared by Blackstone Securities Partners L.P., a member of FINRA and an affiliate of Blackstone Alternative Investment Advisors LLC, the investment adviser of the Fund. What is the probability that one appears before the other? For a discussion of this and other conflicts, please see the Important Risks section at the end of this page. Assumenda quisquam voluptas neque expedita. (2) Magnetar was formed in 2016 and is an affiliate of Magnetar Financial LLC, which was founded in 2005. Waterfall is a specialist credit manager focused on high-yield asset-backed securities, real estate and consumer debt investments. Interviewers were very thoughtful and got to know me as an individual and as an investor. BAAM invests in alternative investment strategies for leading institutional investors and sophisticated individuals, seeking attractive risk-adjusted returns to meet our clients' investment goals. The strategy uses a combination of both qualitative and quantitative approaches to forecast expected returns for global assets based on modeling time-varying risk premia and various other dynamics in asset prices. Any advice in terms of preparation or types of questions to expect? Salary level, culture, etc. Performance data quoted represents past performance and is no guarantee of future results. 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. Most strategies arebased on fundamental analysiswith valuation work focusing ongoing concern and asset liquidation scenarios. Thanks! After that I was invited an interview at their office - they said to expect 2 hours but ended up being there for almost 5 hours. This site and the materials herein are directed only to certain types of investors and to persons in jurisdictions where the fund is authorized for distribution. This process consists of single factor research and analysis, factor integration, portfolio construction, and algorithmic execution. Sign In. Prior to his six years at Disney, he was an analyst with Trammell Crow Ventures, a real estate investment advisory firm. Plan your career in the wide world of finance. It's a waste of your own money traveling to an interview from a different city through NYC to not even get an email update. On Fishbowl, you can share insights and advice anonymously with The Blackstone Group employees and get real answers from people on the inside. The strategy involves investing in equity securities of companies that are the targets of merger transactions in an effort to capture the difference in the value of the target company and its price in the marketplace. I'm interested in learning about this as well. Diversification does not ensure a profit or guarantee against loss. The strategy also employs DESIMs rigorous risk management process, which involves the application of a proprietary optimizer supplemented by a scenario-based framework focused on managing tail risk. Flipping a coin infinitely many times, does the pattern HHT or HTH is more likely to appear? Asset Management, Hedge Funds, Investment Banking, Private Equity. The strategy for the Fund seeks to generate alpha by taking advantage of mispricing across regional markets prone to dislocations. While the long book is expected to be the primary driver of alpha over time, the short side of the portfolio is positioned to be accretive to overall performance as well. Is this considered PE? The strategy seeks to identify commodity inefficiencies and market dislocations in financial energy markets by leveraging its energy market experience and predictive modelling platform. Has anyone interviewed with either of these groups before and can shed some light? Performance data quoted represents past performance and is no guarantee of future results. I'm interviewing with Portfolio Mgmt and Client Relations. All investors should consider the investment objectives, risks, charges and expenses of BXMIX, Class I carefully before investing. Do you think hedge fund will generate lower or higher returns in the future, and why do you think so? Standard deviation is calculated as the square root of variance. Before joining Blackstone in 2016, Mr. Jaffe was a Senior Analyst at The Solaris Group, where he focused on building custom portfolios for private clients. BAIA allocations are subject to change and BAIAs fees on directly managed assets are not reduced by a payment to a subadviser. One stress-test/question based interview. Prior to that, Mr. Morris was a Global Economist with HSBC in London for three years and in Melbourne for two years. One of the Strategic Capital Managers in which the BSCA Funds have a minority interest is Magnetar Capital Partners L.P., a control affiliate of Magnetar Asset Management LLC, a subadviser for the Fund. or Want to Sign up with your social account? Voluptatem voluptatem eos et quaerat deserunt. Some of the technicals were difficult, but the interviewers were very patient and mostly looked at your approach to the problem. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. Please describe the interview / hiring process. The data presented above is based on information obtained or derived from the Sub-Adviser. Their experience and networks will help us make better. Kept digging and asking more and more questions about what I did there. BAIA is responsible for selecting the strategies, for identifying and retaining Sub-Advisers with expertise in the selected strategies, and for determining the amount of Fund assets to allocate to each strategy and to each Sub-Adviser. While the team has the ability to evaluate investments from a scientific perspective, the strategy is grounded in translating how industry trends and competitive dynamics may impact company fundamentals, with an emphasis on financial metrics. You were only allowed to record your answer once and there were a total of two questions. or Want to Sign up with your social account? Does anyone know if compliance at Blackstone etc. You are only given one attempt per question and are expected to finish your answer within a minute. Does anyone know if compliance at Blackstone etc. Tell me about yourself. What should I know /ask during the interview? (BSAA), an affiliate of BAIA, manages the Strategic Alliance Funds (the SAF Funds) that provide seed capital to emerging alternative asset managers (the SAF Managers) in exchange for a revenue share arrangement. Nephila manages a variety of portfolios focusing on different natural catastrophe insurancelinked instruments that provide varying levels of risk profiles to investors. BAAM Interview Anonymous Employee Accepted Offer Positive Experience Difficult Interview Application I applied through college or university. The strategy that DESIM deploys on behalf of the Fund seeks dynamic exposures to risk premia in core global assets along with the potential capture of more exotic forms of risk premia and opportunistic alpha. Leverage Risk use of leverage can produce volatility and may exaggerate changes in the net asset value of Fund shares and in the return on the portfolio, which may increase the risk that the Fund will lose more than it has invested. DESIM, a member of the D.E. Blackstone Horizon is a new investment business that targets strong absolute returns by investing in and forming strategic partnerships with high-performing investment managers. 101 Investment Banking Interview Questions, https://www.wallstreetoasis.com/resources/skills/trading-investing/proprietary-trading, https://www.wallstreetoasis.com/resources/skills/economics/consumer-products, https://www.wallstreetoasis.com/resources/skills/finance/dupont-analysis, Certified Hedge Fund Professional - Trader, Certified Hedge Fund Professional - 3rd+ Year Analyst, 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. Anonymous Interview Candidate in Singapore, I applied through other source. The strategy for the Fund seeks to generate alpha by identifying mis-pricingsthat arise from the markets high level of retail investor participation (behavioral biases) and arbitrage opportunities created by regulatory frictions. 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 What did the interview consist of? Asked in depth questions on the resume. Blackstone Real Estate Special Situations Advisors L.L.C. I felt like everyone was very open, energetic, and had only good things to say about working there. Nephila has the ability to identify both long and short opportunities (writing and buying reinsurance) to create a balanced portfolio with an attractive risk/reward profile across geographies. Blackstone utilizes technology offered by Arcesium LLC (Arcesium) to provide certain middle and backoffice services and technology to the Fund. both in person and virtual. He is responsible for directing the manager research team in hedge fund manager selection and monitoring. has a good work life balance? Know your resume inside and out, otherwise you will get stumped. The process took 5 days. The emphasis is on securities that are undervalued either due to insufficient research coverage of the obligor or due to the complexity of their structure. The process took 5 days. Salary level, culture, etc. You should also brush up on your technical knowledge of the position you're applying for. They have not been selected to represent appropriate benchmarks for BXMIX, but rather are disclosed to allow for comparison of BXMIXs performance to that of well-known and widely recognized indices. HealthCor is a long/short equity manager primarily focused on the Biotech, Pharma, Medtech, and Services sub-sectors of Healthcare. The Fund will not participate in any of the economic arrangements between the BSCA Funds and any Strategic Capital Manager with which the Fund invests. I need to write another sentence to meet the word limit. Blackstone Liquid Credit Strategies LLC (BX LCS), an affiliate of BAIA and an indirect whollyowned subsidiary of Blackstone Inc., serves as a SubAdviser. Before joining Blackstone in 2003, Mr. Santulin worked at Rasini & Co. Inc., a European fund-of-hedge-funds, where he opened and ran the New York office. Glassdoor users rated their interview experience at. Was told and convinced I was qualified for the position several times, human resources had never even contacted me to give me the outcome of the interview and tell me I hadn't been chosen. We do this by using extraordinary people and flexible capital to help companies solve problems . 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