Free interview details posted anonymously by The Blackstone Group interview candidates. 2005-2023 Wall Street Oasis. and Blackstone Alternative Solutions L.L.C., BAAM's affiliated advisors. I applied through college or university. Know your resume inside and out, otherwise you will get stumped. Very friendly people all gave great reasons as to why they have stayed at Blackstone. What is the probability that one appears before the other? Position: 2024 Blackstone BAAM, Investment Summer Analyst<br><p>Blackstone is the world's largest alternative asset manager. The process took 5 days. 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 How do monsoons differ from shamals and Know your resume inside and out, otherwise you will get stumped. 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. ( as in joining bonus they have mentioned one year of continued services). Ea totam illum et maiores delectus. I applied through college or university. It will be lower for managers that act like big indexers because alpha has been arbitraged out. Anonymous Interview Candidate in New York, NY, I applied online. Something you have been keeping up with and how you remain updated. Accenture 16 LPA ( Including 2.59 Lakh as variable pay) J. Tomilson Hill, CEO of BAAM and Vice . All quotes delayed a minimum of 15 minutes. Match. Click card to see definition . Flipping a coin infinitely many times, does the pattern HHT or HTH is more likely to appear? ". Typical superday in the office with 4 1 on 1 interviews. Nice job! Follow us: Linkedin, IG, Facebook, Twitter. Additionally, the case analyzes evolving business models and value propositions within the fund of hedge funds industry. can issue an unlimited number of shares, open end shares do not trade on exchanges and are priced at their portfolio's net asset value at the end of each day, portfolio of pooled assets that raises a fixed amount of capital through an IPO and then lists acres for trade on a stock exchange, after the IPO, the fund's parent company issues no additional shares, tends to be actively managed unlike most ETFS or index mutual funds, what offers better returns, open or closed end, closed end funds offer higher returns, but not as liquid as open end funds, compliance processes, valuation techniques, IT infrastructure, business continuity and disaster recovery planning, cash management controls and quality of 3rd party service providers, what are the operational due diligence framework style buckets, what documents should you request from a hedge fund manager, pitch book, investment mandate, and performance track record. 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. Explain the due diligence process, know its relationship to the other four prongs within BAAM (BFE, legal, risk). If accounts receivable are equal to $80,000, what is the value for average daily credit sales? All Rights Reserved. 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. The process took 2 weeks. This was not necessary in my interview but I've found that always helps. Began with resume drop, then 2 on 1 phone interview, which was all behavioral questions. 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%) Et sed numquam sequi nemo. Blackstone BAAM (Originally Posted: 03/03/2013). Want Access to these Blackstone Group Interview Insights? The unit makes minority investments in a general partners underlying management company. The process took 5 days. The business oversees $7.4 billion in assets. Olivia keeps interrupting other speakers and dominates the discussion. Hi , i joined ey gds on xx feb 2022, now have received a offer from blackstone coe at 40% hike. Mostly fit interview. 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). One of my best interview experiences. Siddiqui, also a senior managing director in Blackstones BAAM unit, has served as co-head of the business, known as the GP Stakes platform, alongside Soussa. 1/35. Payments are made through our secure external payment provider. Will resigning before is not considered continuous service. I interviewed at The Blackstone Group (New York, NY) in Jan 2015. Our $951 billion in assets . Asked in depth questions on the resume. Find the modes, medians, and means of the scores. 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. I am having 7YoE in accounts and finance. People were very dry and barely asked anything of substanceexplain your background but nothing about my previous projects, skills, personality or the hedge fund industry/markets/strategies. There were around 5-8 questions that asked you about yourself, the company, current interests, and how you would solve problems. I felt like everyone was very open, energetic, and had only good things to say about working there. I had a great experience. Ridiculous AirBnb Fees - worth asking the host? Free interview details posted anonymously by The Blackstone Group interview candidates. Was interviewed for 15 minutes by 2 MDs and 1 VP. what does manager seeding and general partner ownership mean? Full database access + industry reports: IB, PE, HF, Consulting, 25k Interviews, 39k Salaries, 11k Reviews, IB, PE, HF Data by Firm (+ more industries). 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. 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). Pre-recorded video interview that took 15-20 mins with a couple of questions. Est natus delectus illo cumque qui. - Oscar Wilde. Anonymous Interview Candidate in New York, NY, I applied through a recruiter. Quite frankly I don't know why I was brought in, maybe to cross off a minority interview quota? Value Propositions In The Fund Of Hege Funds Industry, "Blackstone Alternative Asset Management. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Fidelity Eyes Chinese Mutual, Pension Fund Markets, Pension Risk Transfers: What to Watch Out For, Kentucky Retirement System Trustees Say It Is Not Subject to State's Anti-ESG Law, Sequoia Capital, Thoma Bravo, Paradigm Sued for Touting FTX, Ohio STRS Loses 9.52% in 2022, Board Rejects Neville Vote of Confidence. Can you tell me more about your last work experience? 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 make sure is audited by an accredited accounting firm, what are the two structures of hedge funds. Expert tips from current & past 11+ Interviewers. What should I make of this, what would it be like, and how is it viewed? See you on the other side! Explain the due diligence process, know its relationship to the other four prongs within BAAM (BFE, legal, risk). or Want to Sign up with your social account? Everything on there should have a story behind it. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. - 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. - 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%). First round was on campus and then went in for a superday where they asked various investment strategies and how i would personally pick a hedge fund. 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. This employer has not claimed their Employer Profile and is missing out on connecting with our community. 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. So there is a difference then? The process took 2 weeks. J.Tomilson Hill will become chairman of Blackstone Alternative Asset Management. 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. I then had one more slightly longer phone interview, followed by a final interview in New York. The process took 2 weeks. This employer has not claimed their Employer Profile and is missing out on connecting with our community. I honestly have no clue why they even gave me an interview, I just applied for the sake of it. Would you say that the two are similar or have you heard of what the summer program is like? 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. Private Equity, Asset Management, Hedge Funds, Investment Banking. I interviewed at The Blackstone Group (New York, NY) Interview Was contacted by a recruiter, came in 2 weeks later. Please describe the interview / hiring process. 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 then had one more slightly longer phone interview, followed by a final interview in New York. I had a phone interview first that took 30 minutes and was mostly fit. 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. - Customized Capacity Vehicles:+ Includes funds where BAAM is the sole external investor and funds with which BAAM has negotiated guaranteed capacity. Job title almost similar . What they do on a day-to-day basis, what they're looking for, exit opps? 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 Interview Anonymous Employee Accepted Offer Positive Experience Difficult Interview Application I applied through college or university. Exclusive Insight From 11+ Interviewers. You can't do business from there." Workspace Dashboard for ALL of Life's Tasks? how would you conduct due diligence on a hedge fund? 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. Again, I'd like to use this thread as an invite for other monkeys with more valuable info, so please feel free to chime in. simooms? Besides the fund size, what makes it your dream job? Can't find much on WSO either. John P. McCormick will succeed J. Tomilson Hill as president and chief executive of Blackstone Alternative Asset Management (BAAM.) I don't have any real finance experience and can't "talk the talk." Anyone had this interview who could give me some advice? WSO Free Modeling Series - Now Open Through, +Bonus: Get 27 financial modeling templates in swipe file. Kept digging and asking more and more questions about what I did there. what does investing through portfolio of hedge funds means? 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. Molestiae perspiciatis ut et necessitatibus. Has anyone interviewed with either of these groups before and can shed some light? Kept digging and asking more and more questions about what I did there. 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. Total YOE : 4.5. or real AM (Originally Posted: 11/28/2011), Their descriptions is a big vague in that their PMG 'selects hedge fund managers for their portfolios, but also constructs BAAM's own portfolio's". We are incredibly grateful to Scott for his significant contributions in building our successful stakes business, said Blackstone President Jon Gray, adding that he was promoting Siddiqui and naming firm veteran Mike Nash to a new role. - 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. Mostly fit interview. First question should i consider moving. Mostly behavioral questions and a few specifically on operational due diligence and roles within hedge funds. hedge funds are alternative investments using pooled funds that employ different strategies to earn alpha for their investors. I felt like everyone was very open, energetic, and had only good things to say about working there. I interviewed at The Blackstone Group (New York, NY) in Oct 2015. 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. BAAM is a fascinating group. what is the most significant operational risk? I interviewed at The Blackstone Group in Jan 2011. Blackstone BAAM? 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. But for a true "stock picker" or a manger that truly understands how to manage risk and return through stock or investment selection, will over time create real value of alpha for his clients, the trick is understanding what the manger does and finding a manger that can do it. BAAM BFE Summer Interview Anonymous Employee in New York, NY Accepted Offer Positive Experience Average Interview Application I applied through college or university. I interviewed at The Blackstone Group (New York, NY). Real Estate Debt Strategies Summer Analyst (3), Real Estate Private Equity Summer Analyst (3), The Ultimate Job Interview Preparation Guide. No Reproduction Without Prior Authorizations. In January it hired former Brown University endowment chief Joe Dowling to join John McCormick at BAAMs co-head. Dolorem ipsa sapiente temporibus autem. What is the probability that one appears before the other? 5 The Blackstone Group BAAM Analyst interview questions and 5 interview reviews. You should also brush up on your technical knowledge of the position you're applying for. As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. Please help me with referal. We do this by using extraordinary people and flexible capital to help companies solve problems. I had a phone interview first that took 30 minutes and was mostly fit. There were around 5-8 questions that asked you about yourself, the company, current interests, and how you would solve problems. This employer has not claimed their Employer Profile and is missing out on connecting with our community. Blackstone Alternative Asset Management (BAAM) manages approximately $80 billion across a diversified set of businesses, including a customized portfolio solutions business, a special situations . - Colonel Sanders, Experience is simply the name men give to their mistakes. As you have learned, facilitating a productive meeting requires skills that may be critical to your career success. 11+ Online Interview Question Bank1 Month Subscription (29.99), 11+ Online Interview Question Bank3 Month Subscription (34.99), 11+ Online Interview Question Bank6 Month Subscription (39.99). 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. 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 Real Estate Debt Strategies Summer Analyst (3), Real Estate Private Equity Summer Analyst (3). Blackstone is the worlds biggest investor in hedge funds and its BAAM unit manages $79 billion in assets. Thanks so much for this! Flipping a coin infinitely many times, does the pattern HHT or HTH is more likely to appear? Don't forget to check the attachments. I applied through college or university. The process took 2 weeks. Dowling will oversee BAAM's investment activities going forward, while McCormick will oversee BAAM's business and investor functions. 2005-2023 Wall Street Oasis. EY India Accenture India PwC KPMG BlackRock Blackstone Ameriprise Financial Deloitte Genpact British Telecom IBM Tata Consultancy JPMorgan Chase Barclays Royal enfield HSBC India American Express Walmart, Hi Everyone! WSO depends on everyone being able to pitch in when they know something. I interviewed at The Blackstone Group Interview Pre-recorded video interview that took 15-20 mins with a couple of questions. Can you tell me more about your last work experience? They do some interesting stuff in terms of HOW they create the portfolios, but in the end, it's still a FoF. They're the world's largest fund-of-funds. Sunt dolorem reprehenderit quia ipsum iure et. Everything on there should have a story behind it. And what attracts you to the FoF space? 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). Nash, who co-founded Blackstone Real Estate Debt Strategies, will become chairman of the GP Stakes platform. See here for a complete list of exchanges and delays. Asked in depth questions on the resume. We do this by using extraordinary people and flexible capital to help companies solve problems . J. Tomilson Hill, CEO of BAAM and Vice-Chairman of The Blackstone Group, is the protagonist. Anonymous Interview Candidate in New York, NY, I applied online. Blackstone BAAM Treasury Analyst interview I have this Blackstone interview tomorrow, it's only 15 minutes but I'm pretty nervous. Greenwood, Robin, Luis M. Viceira, and Jared Dourdeville. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). NB. In January it hired former Brown University endowment. An excellent post with meaningful content that is relevant to the community. Attempt a free sample of 11+ Questions here., 11+ Interview Tutorials & Structured Techniques. Interview Questions Tell me about yourself. 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.
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