Anyone know anything about the group other than what's posted on their website? Click again to see term . 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. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). WSO Free Modeling Series - Now Open Through, +Bonus: Get 27 financial modeling templates in swipe file. Greenwood, Robin, Luis M. Viceira, and Jared Dourdeville. what does manager seeding and general partner ownership mean? 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. 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 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. I had a phone interview first that took 30 minutes and was mostly fit. 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. All is based on few recent presentations that I was able to gather. I have multiple offers currently in hand. It will be lower for managers that act like big indexers because alpha has been arbitraged out. Ridiculous AirBnb Fees - worth asking the host? The process took 2 weeks. Opens the Fishbowl by Glassdoor site in a new window, Real Estate Debt Strategies Summer Analyst (3), Real Estate Private Equity Summer Analyst (3). 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 Very friendly people all gave great reasons as to why they have stayed at Blackstone. In the context of the current fund of hedge funds industry, the case considers challenges and opportunities for these potential new areas for growth. Martin Electronics has an accounts receivable turnover equal to 15 times. Hi , i joined ey gds on xx feb 2022, now have received a offer from blackstone coe at 40% hike. Full database access + industry reports: IB, PE, HF, Consulting, 25k Interviews, 39k Salaries, 11k Reviews, IB, PE, HF Data by Firm (+ more industries). What is the probability that one appears before the other? Dolorem ipsa sapiente temporibus autem. Blackstone COE (on wipro's payroll) - 18 LPA (including 1.5 lakh as variable pay) I interviewed at The Blackstone Group (New York, NY) in Jan 2015. 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 2023 Asset International, Inc. All Rights Reserved. Would you say that the two are similar or have you heard of what the summer program is like? how would you conduct due diligence on a hedge fund? and Blackstone Alternative Solutions L.L.C., BAAM's affiliated advisors. Know your resume inside and out, otherwise you will get stumped. Blackstone Alternative Asset Management (BAAM) has partnered with some of the world's leading investors since 1995. BAAM is a fascinating group. One of my dream jobs. Olivia keeps interrupting other speakers and dominates the discussion. Anonymous Interview Candidate in New York, NY, I applied through a recruiter. J. Tomilson Hill, CEO of BAAM and Vice-Chairman of The Blackstone Group, is the protagonist. The process took 2 weeks. Asked in depth questions on the resume. - 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. Updated For 2023 Interviews. 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. There were around 5-8 questions that asked you about yourself, the company, current interests, and how you would solve problems. 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%) Very tough to break into. One of my best interview experiences. Learn More $80B Investor Capital Under Management 26+ Year Track Record 115 The process took 2 weeks. I interviewed at The Blackstone Group (New York, NY) in Oct 2015. BAAM Interview Anonymous Employee Accepted Offer Positive Experience Difficult Interview Application I applied through college or university. 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. Accenture 16 LPA ( Including 2.59 Lakh as variable pay) An excellent post with meaningful content that is relevant to the community. Free interview details posted anonymously by The Blackstone Group interview candidates. See here for a complete list of exchanges and delays. Blackstone BAAM (Originally Posted: 03/03/2013). 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. Job title almost similar . Will resigning before is not considered continuous service. Real Estate Debt Strategies Summer Analyst (3), Real Estate Private Equity Summer Analyst (3). 1/35. 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. Everything on there should have a story behind it. Click card to see definition . 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. Expert tips from current & past 11+ Interviewers. It's a fund of funds, but they hate that term. 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. 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. Sorry, you need to login or sign up in order to vote. 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. You can't do business from there." They're the world's largest fund-of-funds. 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. 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). Omnis reprehenderit similique quidem optio possimus voluptas amet. 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. 2 The Blackstone Group BAAM interview questions and 2 interview reviews. All Rights Reserved. How do monsoons differ from shamals and Their experience and networks will help us make better. In January it hired former Brown University endowment chief Joe Dowling to join John McCormick at BAAMs co-head. 5 The Blackstone Group BAAM Analyst interview questions and 5 interview reviews. I applied through college or university. And what attracts you to the FoF space? Previously he worked in Blackstones Private Equity Group, where he led the firms private equity investment activities across the energy sector in Europe, the Middle East and Africa. - Customized Capacity Vehicles:+ Includes funds where BAAM is the sole external investor and funds with which BAAM has negotiated guaranteed capacity. MAQ Software with 13.5 LPA 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. Nice job! Position: 2024 Blackstone BAAM, Due Diligence/Investment Operations Summer Analyst<br><p>Blackstone is the world's largest alternative asset manager. 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. Something you have been keeping up with and how you remain updated. Anonymous Interview Candidate in New York, NY, I applied online. ". The process took 2 weeks. The unit makes minority investments in a general partners underlying management company. The process took 5 days. In January it hired former Brown University endowment. Anonymous Interview Candidate in New York, NY, I applied online. I am having 7YoE in accounts and finance. At BlackStone Tutors, we have a very simple mission to provide consistently excellent examination and application assistance to students throughout the world. 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. Payments are made through our secure external payment provider. Flipping a coin infinitely many times, does the pattern HHT or HTH is more likely to appear? Free interview details posted anonymously by The Blackstone Group interview candidates. Don't forget to check the attachments. I then had one more slightly longer phone interview, followed by a final interview in New York. 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. PLAY. Reporting by Svea Herbst-Bayliss; Editing by Dan Grebler. 2005-2023 Wall Street Oasis. 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. Everything on there should have a story behind it. Additionally, the case analyzes evolving business models and value propositions within the fund of hedge funds industry. 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 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. Has anyone interviewed with either of these groups before and can shed some light? As requested by @MBAGrad2015" in my previous post (about GSO) and several other users who pm-ed me about BAAM, I decided to start another "demystifying" thread - the Blackstone's 2014 Hedge Fund Solutions (BAAM) overview. Please help me choose the right organisation I then had one more slightly longer phone interview, followed by a final interview in New York. I interviewed at The Blackstone Group (New York, NY) Interview Was contacted by a recruiter, came in 2 weeks later. Know your resume inside and out, otherwise you will get stumped. On Fishbowl, you can share insights and advice anonymously with The Blackstone Group employees and get real answers from people on the inside. No Reproduction Without Prior Authorizations. Molestiae perspiciatis ut et necessitatibus. 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. 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. 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. Besides the fund size, what makes it your dream job? Mostly fit interview. You should also brush up on your technical knowledge of the position you're applying for. J.Tomilson Hill will become chairman of Blackstone Alternative Asset Management. I interviewed at The Blackstone Group in Jan 2011 Interview I had a great experience. 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. Kept digging and asking more and more questions about what I did there. Tags: Blackstone Alternative Asset Management, Hedge Fund, J. Tomilson Hill, John P. McCormick, Fidelity Eyes Chinese Mutual, Pension Fund Markets, 702 King Farm Boulevard, Suite 400, Rockville, MD 20850 / +1 212-944-4455 /. Contribute to the database and get 1 month free* Full online access! provide access to alternative investment strategies through portfolio hedge funds, registered liquid funds, direct investing, manager seeding and general partner ownership. 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. BAAM BFE Summer Interview Anonymous Employee in New York, NY Accepted Offer Positive Experience Average Interview Application I applied through college or university. Veniam ipsam ab nihil natus. Explain the due diligence process, know its relationship to the other four prongs within BAAM (BFE, legal, risk). Match. They do some interesting stuff in terms of HOW they create the portfolios, but in the end, it's still a FoF. I interviewed at The Blackstone Group (New York, NY) in Oct 2015 Interview Blackstone BAAM Treasury Analyst interview I have this Blackstone interview tomorrow, it's only 15 minutes but I'm pretty nervous. 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. If accounts receivable are equal to $80,000, what is the value for average daily credit sales? I felt like everyone was very open, energetic, and had only good things to say about working there. Optio at architecto ea molestiae. Can't find much on WSO either. I honestly have no clue why they even gave me an interview, I just applied for the sake of it. or Want to Sign up with your social account? Kept digging and asking more and more questions about what I did there. Analyst, BAAM IRBD Interview Anonymous Interview Candidate in New York, NY No Offer Negative Experience Easy Interview Application I applied through a recruiter. 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". 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. Et sed numquam sequi nemo. Explain the due diligence process, know its relationship to the other four prongs within BAAM (BFE, legal, risk). Additionally, the case analyzes evolving business models and value propositions within the fund of hedge funds industry. - 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%). All Rights Reserved. John P. McCormick will succeed J. Tomilson Hill as president and chief executive of Blackstone Alternative Asset Management (BAAM.) Asked in depth questions on the resume. 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. Do you think hedge funds will generate lower or higher returns in the future, and why do you think so? The business oversees $7.4 billion in assets. NB. Blackstone BAAM? Depends on the manager. What is the probability that one appears before the other? I had a great experience. One is for their Alternative Asset Management Group (BAAM - hedge fund solutions) and the other is for Real Estate Debt Strategies (BREDS). Some of its most prominent successes include Senator Investment Group, New Mountain Capital, Francisco Partners and Leonard Green. 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. This employer has not claimed their Employer Profile and is missing out on connecting with our community. - Miami-Fort Lauderdale, FL, United States Area. This employer has not claimed their Employer Profile and is missing out on connecting with our community. This was not necessary in my interview but I've found that always helps. Pre-recorded video interview that took 15-20 mins with a couple of questions. So there is a difference then? Repellendus corporis aut possimus non cum. - 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. I had a phone interview first that took 30 minutes and was mostly fit. Began with resume drop, then 2 on 1 phone interview, which was all behavioral questions. New York, March 15, 2021 - Blackstone (NYSE:BX) today announced that Scott Bommer has joined the firm as the Chief Investment Officer of the new Blackstone Horizon platform, an initiative being launched by Blackstone Alternative Asset Management (BAAM). As you have learned, facilitating a productive meeting requires skills that may be critical to your career success. Blackstone is the worlds biggest investor in hedge funds and its BAAM unit manages $79 billion in assets. The process took 2 weeks. Flipping a coin infinitely many times, does the pattern HHT or HTH is more likely to appear? 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. Please help me with referal. 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. Please describe the interview / hiring process. Real Estate Debt Strategies Summer Analyst (3), Real Estate Private Equity Summer Analyst (3), The Ultimate Job Interview Preparation Guide. I have two first round phone interviews with Blackstone this week (SA positions) and am hoping to get some insight. Our $951 billion in assets . 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. The process took 2 weeks. Thanks so much for this! 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.
