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. Additionally, the case analyzes evolving business models and value propositions within the fund of hedge funds industry. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). Blackstone is the world's biggest investor in hedge funds and its BAAM unit manages $79 billion in assets. Interested as well. WSO Free Modeling Series - Now Open Through, +Bonus: Get 27 financial modeling templates in swipe file, 101 Investment Banking Interview Questions, Free 1 month access by adding just 1 salary datapoint, REAL salary bonus data across 1,000+ companies, Plus free 1 month access to 10,000+ interview insights. 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). 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). Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. 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. and Blackstone Alternative Solutions L.L.C., BAAM's affiliated advisors. We do this by using extraordinary people and flexible capital to help companies solve problems . J. Tomilson Hill, CEO of BAAM and Vice . Match. Veniam ipsam ab nihil natus. One is for their Alternative Asset Management Group (BAAM - hedge fund solutions) and the other is for Real Estate Debt Strategies (BREDS). Copyright 2023 Asset International, Inc. All Rights Reserved. Real Estate Debt Strategies Summer Analyst (3), Real Estate Private Equity Summer Analyst (3). I felt like everyone was very open, energetic, and had only good things to say about working there. what questions would you ask a hedge fund manager? Nice job! Joe Dowling, Blackstone Global Head of BAAM, said:"David and Atish will be key leaders in BAAM and are excellent additions to the team. Has anyone interviewed with either of these groups before and can shed some light? 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 help me with referal. Some of the technicals were difficult, but the interviewers were very patient and mostly looked at your approach to the problem. Asked in depth questions on the resume. 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. 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. Est natus delectus illo cumque qui. BAAM BFE Summer Interview Anonymous Employee in New York, NY Accepted Offer Positive Experience Average Interview Application I applied through college or university. simooms? Anonymous Interview Candidate in New York, NY, I applied online. Anonymous Interview Candidate in New York, NY, I applied online. Martin Electronics has an accounts receivable turnover equal to 15 times. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. how would you conduct due diligence on a hedge fund? Began with resume drop, then 2 on 1 phone interview, which was all behavioral questions. 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. 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. This employer has not claimed their Employer Profile and is missing out on connecting with our community. I had a phone interview first that took 30 minutes and was mostly fit. I had a great experience. 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. Asked in depth questions on the resume. 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. The process took 2 weeks. hedge funds require less SEC regulations. One of my best interview experiences. The process took 2 weeks. Quantitative Strategist (Vice President). There were around 5-8 questions that asked you about yourself, the company, current interests, and how you would solve problems. This was not necessary in my interview but I've found that always helps. You should also brush up on your technical knowledge of the position you're applying for. 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. Value Propositions In The Fund Of Hege Funds Industry, "Blackstone Alternative Asset Management. You should also brush up on your technical knowledge of the position you're applying for. 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. 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. Dowling will oversee BAAM's investment activities going forward, while McCormick will oversee BAAM's business and investor functions. In January it hired former Brown University endowment chief Joe Dowling to join John McCormick at BAAMs co-head. Know your resume inside and out, otherwise you will get stumped. Was contacted by a recruiter, came in 2 weeks later. Follow us: Linkedin, IG, Facebook, Twitter. Explain the due diligence process, know its relationship to the other four prongs within BAAM (BFE, legal, risk). First question should i consider moving. 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. I interviewed at The Blackstone Group (New York, NY). I interviewed at The Blackstone Group (New York, NY) in Oct 2015 Interview I applied through college or university. We do this by using extraordinary people and flexible capital to help companies solve problems. Analyst, BAAM IRBD Interview Anonymous Interview Candidate in New York, NY No Offer Negative Experience Easy Interview Application I applied through a recruiter. Blackstone Alternative Asset Management (BAAM), Blackstone's Hedge Fund Solutions platform, is the world's largest discretionary investor in hedge funds, with approximately $80 billion in assets under management. Optio at architecto ea molestiae. 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, "There's no reason to be the richest man in the cemetery. 150+ Past Interview Questions & Model Answers, Interview Tutorials & Structured Techniques, 10:00 - 11:00: BMAT Section 1 Techniques & Practice Questions, 11:45 - 12:45: BMAT Section 2 Key Content & Practice Questions, 14:00 - 15:00: BMAT Section 3 Techniques & Implementation, 15:00 - 16:00: BMAT Section 3 Mock Exam, Feedback & Further Discussion, 16:00 - 16:30: Exclusive Interview Insight. 2005-2023 Wall Street Oasis. See here for a complete list of exchanges and delays. Interview Questions Tell me about yourself. Can you tell me more about your last work experience? It has been expanding this year. It has been expanding this year. Would you say that the two are similar or have you heard of what the summer program is like? Position: 2024 Blackstone BAAM, Due Diligence/Investment Operations Summer Analyst<br><p>Blackstone is the world's largest alternative asset manager. This was not necessary in my interview but I've found that always helps. ( as in joining bonus they have mentioned one year of continued services). 1/35. Mostly fit interview. Omnis reprehenderit similique quidem optio possimus voluptas amet. 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 felt like everyone was very open, energetic, and had only good things to say about working there. Opens the Fishbowl by Glassdoor site in a new window, Real Estate Debt Strategies Summer Analyst (3), Real Estate Private Equity Summer Analyst (3). - 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%). Anyone know anything about the group other than what's posted on their website? I applied through college or university. Greenwood, Robin, Luis M. Viceira, and Jared Dourdeville. There were around 5-8 questions that asked you about yourself, the company, current interests, and how you would solve problems. Thanks so much for this! - 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. The process took 5 days. Be the first to find this interview helpful, What are some red flags when performing operational due diligence, Real Estate Debt Strategies Summer Analyst (3), Real Estate Private Equity Summer Analyst (3), The Ultimate Job Interview Preparation Guide. Was interviewed for 15 minutes by 2 MDs and 1 VP. Workspace Dashboard for ALL of Life's Tasks? Position: 2024 Blackstone BAAM, Investment Summer Analyst<br><p>Blackstone is the world's largest alternative asset manager. Hope some of you guys find this useful. bump on day-to-day operations and analyst responsibilities. I have multiple offers currently in hand. Ridiculous AirBnb Fees - worth asking the host? Nash, who co-founded Blackstone Real Estate Debt Strategies, will become chairman of the GP Stakes platform. Blackstone Alternative Asset Management (BAAM) manages approximately $80 billion across a diversified set of businesses, including a customized portfolio solutions business, a special situations . Blackstone BAAM- FoF? 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 This employer has not claimed their Employer Profile and is missing out on connecting with our community. 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. One of my best interview experiences. 2005-2023 Wall Street Oasis. Blackstone BAAM Treasury Analyst interview I have this Blackstone interview tomorrow, it's only 15 minutes but I'm pretty nervous. Do you think hedge funds will generate lower or higher returns in the future, and why do you think so? 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". 5 The Blackstone Group BAAM Analyst interview questions and 5 interview reviews. 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. Please help me choose the right organisation Mostly fit interview. Ea totam illum et maiores delectus. 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. (Originally Posted: 11/26/2014). Anonymous Interview Candidate in New York, NY, I applied through a recruiter. 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. 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. Their experience and networks will help us make better. 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 great experience. I interviewed at The Blackstone Group (New York, NY) in Jan 2015. I interviewed at The Blackstone Group in Jan 2011 Interview I had a great experience. At the time of the case, BAAM was considering two potential directions for future growth: 1) providing hedge fund products for the defined contribution pension space, and 2) beginning direct internal "manufacturing" of investments. An excellent post with meaningful content that is relevant to the community. BAAM Interview Anonymous Employee Accepted Offer Positive Experience Difficult Interview Application I applied through college or university. Either of these groups before and can shed some light the Group other than what 's posted their! Felt like everyone was very open, energetic, and why do you think so fund of Hege industry. Group other than what 's posted on their website joining bonus they mentioned! 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