Kept digging and asking more and more questions about what I did there. Please contact your BAAM representative for further information. Tell me about yourself. Derivatives Risk the use of derivatives involves the risk that their value may not move as expected relative to the value of the relevant underlying assets, rates, or indices. Can you tell me more about your last work experience? 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. Index data is obtained from unaffiliated third parties and is subject to subsequent adjustments. I interviewed at The Blackstone Group (New York, NY) in Jan 2015. Good people. The strategy benefits from the portfolio managers trading acumen, active risk management techniques and the combined experience of the Sub-Advisers dedicated investment team. Would recommend tossing your hat in for the opportunity. He has previously worked at Goldman Sachs Asset Management and Fidelity Management & Research Company. 150+ Past Interview Questions & Model Answers. Standard deviation is calculated as the square root of variance. 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. Online asynchronous interview where you are given a question and are then expected to record your response. What is the interview process like at The Blackstone Group? In addition, Emso endeavors to reduce risk and enhance returns by opportunistically hedging the credit, interest rate, currency and other risks related to investing principally in emerging markets. The Fund will not otherwise participate in any of the economic arrangements between the SAF Funds and any SAF Manager with which the Fund invests. Sage Rock is an event driven manager with a focus on special situations investing. Asset Management, Hedge Funds, Investment Banking, Private Equity. Clear Skys coverage universe includes sectors that are interrelated fundamentally and synergistic from a research and information perspective. I had a phone interview first that took 30 minutes and was mostly fit. Endeavour evaluates investment opportunities with a stock specific lens, understanding how industry trends, economic data, and competitive dynamics impact company fundamentals to inform idea generation, analysis, and risk management. Why are you looking to make the move over to BAAM? Other risks include, but are not limited to: allocation risk, conflicts of interest risk, market risk and selection risk, derivatives risk, debt securities risk, equity securities risk, mortgage and asset-backed securities risk, multi-manager risk large purchase or redemption risk. BAAM invests in alternative investment strategies for leading institutional investors and sophisticated individuals, seeking attractive risk-adjusted returns to meet our clients' investment goals. Allocations may change at any time without notice. Endeavour primarily invests in securities within the banking, insurance, mortgage, specialty finance, and brokerage/asset management sectors. Blackstone's BAAM unit is on track to post its best-ever year, with revenues and earnings topping last year's records and assets at a record high. Salary level, culture, etc. The value of the Funds shares may go down as well as up and there can be no assurance that the Fund will achieve its investment objectives or avoid significant losses. The Funds investments involve significant risks including, but not limited to, loss of all or a significant portion of the investment due to leveraging, short-selling or other speculative practices, lack of liquidity and volatility of returns. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Current performance may be lower or higher than the performance data quoted. Would love to hear about BREDS. Additionally, the case analyzes evolving business models and value propositions within the fund of hedge funds industry. Accusamus dicta et repellendus ut. In sourcing ideas for the strategy, the manager leverages the experience, deep team and infrastructure of the broader Bayview firm in sourcing, purchasing, special servicing and divesting whole loans. Prior to Deutsche Bank, Mr. Sickles held similar macro advisory roles for J.P. Morgan and Goldman Sachs in London, Hong Kong, and New York, and served as a Portfolio Manager for Tiger Management LLC. One is for their Alternative Asset Management Group (BAAM - hedge fund solutions) and the other is for Real Estate Debt Strategies (BREDS). Seiga Asset Management Limited, a SAF Manager, is a subadviser to the Fund. Seeks to mitigate volatility through exposure to diversifying assets. One is for their Alternative Asset Management Group (BAAM - hedge fund solutions) and the other is for Real Estate Debt Strategies (BREDS). For a discussion of this and other conflicts, please see the Important Risks section at the end of this page. What should I know /ask during the interview? They tried to ask questions to test your intelligence by setting up hypothetical situations that you can't prepare for, and therefore have to reason through. (1) Inception date for the D. E. Shaw group. AUM reflects approximate investor capital managed by Magnetar and its affiliated investment managers, on a discretionary and non-discretionary basis, including designated investments in side pockets and unfunded commitments (money committed to any fund managed by Magnetar and its affiliated investment managers as of the report date, but not yet transferred by the investors). The Funds multi-manager structure provides built-in diversification for investors who seek to avoid single manager risk. Proprietary market intelligence gleaned from its commodity trading business coupled with fundamental supply and demand research unearths these potential relative value and directional mispricing opportunities. Candidates interviewing for Financial Analyst and Business Manager rated their interviews as the hardest, whereas interviews for Risk Analyst and Investor Relations roles were rated as the easiest. This employer has not claimed their Employer Profile and is missing out on connecting with our community. I applied through college or university. I interviewed at The Blackstone Group in Jan 2011. It is also an active seller of mortgage loans, including seasoned, performing assets to regional and community banks that find it advantageous to purchase performing assets in their footprints to supplement their loan originations. Was invited to come into the city to interview with the BAAM team. Had me waiting over 30-45 minutes in the waiting room on their department floor, and then whomever came to get me complained they did not know I was here because the secretary never buzzed them either- corporation does not even seem to care for you when you are interviewing, can't imagine being an employee. In the case of equity indices, performance of the indices reflects the reinvestment of dividends. Salary level, culture, etc. Legal structuring? The data presented above is based on information obtained or derived from the Sub-Adviser. Note: There can be no assurance that the Fund will achieve its goals or avoid losses. Blackstone's fund-of-funds portfolio, BAAM. I have one coming up as well. Bayforests proprietary algorithm consumes large quantities of data to infer actionable insights in real time, which in turn are used to identifying complex patterns that may be formed because of market inefficiencies. Length? Emsos investment strategy typically pursues value-oriented investments and transactions in the securities of sovereign and corporate obligors, principally in emerging markets, which are primarily rated non-investment grade. Endeavour is an equity market neutral manager that invests across the financial services sector, with a style that combines bottom-up fundamental research with perspective on the macroeconomic, regulatory, and financial conditions that impact the industry. Omnis et sequi consequatur. 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. H/W/S? Check the background of this firm on FINRAs BrokerCheck. Prior to that, Mr. Jaffe was an Associate at Ziff Brothers Investments, a multi-asset family office, where he worked in the risk and performance analytics group. Blackstone Liquid Credit Strategies LLC (BX LCS), an affiliate of BAIA and an indirect whollyowned subsidiary of Blackstone Inc., serves as a SubAdviser. Certain information contained in the Materials discusses general market activity, industry or sector trends, or other broad-based economic, market or political conditions and should not be construed as research or investment advice. Asked in depth questions on the resume. Blackstone Horizon is a new investment business that targets strong absolute returns by investing in and forming strategic partnerships with high-performing investment managers. Has anyone interviewed with either of these groups before and can shed some light? You are only given one attempt per question and are expected to finish your answer within a minute. The platform will employ a thematic approach to capitalize on powerful secular growth trends globally. 2005-2023 Wall Street Oasis. The value of the Funds shares may go down as well as up and there can be no assurance that the Fund will achieve its investment objectives or avoid significant losses. Blackstone Strategic Capital Advisors L.L.C. 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. (1) Blackstone and its affiliates have financial interests in asset managers. Blackstone BXMIX is a core alternative solution providing a diversified blend of alternative strategies and managers in a single daily liquid mutual fund. Will follow up after to share my experience. or Want to Sign up with your social account? Multi-Manager Risk managers may make investment decisions which conflict with each other and as a result, the Fund could incur transaction costs without accomplishing any net investment result. 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 SPACs Sub-Strategy involves systematically buying positions in a broad range of outstanding SPAC units and future SPAC unit IPOs, and generally holding the associated common stock, warrants and rights until the completion of a deal. both in person and virtual. Questions were a mix of technical and fit. portfolio management? The process took 2 weeks. Note: Past performance may not be a reliable guide to future performance. Can you share your experience? On-campus interview followed by a super day in New York. The Waterfall team performs intensive cash flow stress testing and due diligence on distressed situations. May inform Blackstone that I have other offers to see if the process can be expedited. Long Exposure: A long position occurs when an individual owns securities. BRESSA (i) seeks to drive returns by optimizing credit selection and relative value across liquid real estate debt-related investments, (ii) seeks yield and current income while focusing on market risk, and (iii) targets zero interest rate exposure as an alternative to traditional fixed income. Seiga identifies investment opportunities using specific stock picking criteria with a thematic overlay. I had a great experience. How can you deal with working in very stressful situations, tell me about your knowledge in alternative investments. Had my first round for BAAM this morning. For a discussion of this and other conflicts, please see the Additional Disclosure section at the end of this document. When did you receive the notification that you were selected for these two first round interviews? Two fit interviews. Vitae ipsum dignissimos totam atque sit hic officiis. This knowledge informs a risk analysis of potential positions, creates investment opportunities and enables security selection to create a portfolio consistent with Blackstones global viewpoint. It combines a value-oriented investment approach with a macro overlay. BAIAs fees on directly managed assets are not reduced by a payment to a sub-advisor. - Met with a variety of people from across all levels. Thoughts on ops role at PE firms like blackstone and kkr? We do this by using extraordinary people and flexible capital to help companies solve problems. Any insight would be appreciated. Ipsa quo qui cumque officia eaque. 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. Sage Rock applies a discretionary overlay to eliminate some SPACs and trade SPAC units, common stock and warrants based on, among other things, expected internal rate of return, richness/cheapness, and evaluation of the SPAC sponsors. The strategys objective is to produce, across a variety of market conditions, attractive long-term risk-adjusted returns with moderate beta to the S&P 500 and various other major asset classes. BX LCS is focused on generating risk-adjusted returns with a strong emphasis on capital preservation across various credit instruments including bank loans, high yield bonds and collateralized loan obligation (CLO) securities. I applied online. The resulting portfolio is bucketed into five categories: credit, nominal rates, equities, inflation, and opportunistic. Prior to that, Mr. Morris was a Global Economist with HSBC in London for three years and in Melbourne for two years. One of my best interview experiences. I interviewed at The Blackstone Group (New York, NY) in Sept 2018. Dynamic allocation allows Blackstone to rotate into more attractive sectors, strategies and managers as markets evolve. I felt like everyone was very open, energetic, and had only good things to say about working there. Beta: A measure of the volatility, or systemic risk, of a security or a portfolio in comparison to the market as a whole. The strategy for the Fund seeks to generate alpha by taking advantage of mispricing across regional markets prone to dislocations. Before joining Blackstone in 2010, Mr. Morris was Chief US Economist at HSBC in . Learn More $80B Investor Capital Under Management 26+ Year Track Record 115 Investment Professionals WHAT WE DO Is this considered PE? All investors are urged to carefully read the prospectus and the summary prospectus in its entirety before investing. I need to write another sentence to meet the word limit. Was invited to come into the city to interview with the BAAM team. (1) Blackstone and its affiliates have financial interests in asset managers. I interviewed at The Blackstone Group. Opens the Fishbowl by Glassdoor site in a new window, Real Estate Debt Strategies Summer Analyst (3), Real Estate Private Equity Summer Analyst (3). Opinions expressed reflect the current opinions of Blackstone as of the date appearing in the Materials only and are based on Blackstones opinions of the current market environment, which are subject to change. The following is a summary description of certain additional principal risks of investing in the Fund: Allocation Risk Blackstones judgment about the attractiveness, value or market trends affecting a particular asset class, investment style, sub-adviser or security may be incorrect and this may have a negative impact upon performance. Mr. Sickles received a BA in History from the University of Georgia and an MBA from the Kenan-Flagler Business School at the University of North Carolina Chapel Hill. I interned at a BB IBD last summer and this definitely seems interesting to me. Interview questions are pretty basic, and they tell you in person that the position is not the way it is described in the position you applied for- they let you know you will be working across two different departments, and they request 55-60 hours a week from interns. Does Blackstone provide WLB for working mom? Emso is an emerging markets manager focused on credit, rates and currencies. Does Blackstone provide WLB for working mom? Following investment, Waterfall seeks to reduce market risks through conservative use of leverage and hedging strategies, and also seeks to reduce downside risk related to unanticipated credit events by proactively managing positions. You should also brush up on your technical knowledge of the position you're applying for. Mr. Morris holds a Bachelors degree in Applied Economics from Deakin University in Melbourne, Australia and an MSc in Financial Economics from the University of London. Can you tell me more about your last work experience? You will be given 3 min to think and 1 min to answer for each question. Shaw group, was formed in 2005. Tired of getting emails on Fridays that ruin my weekend. 1. Through a sourcing process designed to identify companies believed to be at or nearing an inflection point, followed by due diligence conducted against four criteria, the investment team strives to construct a portfolio of their best ideas. Performance data quoted represents past performance and is no guarantee of future results. Had basic phone screening call with a BS recruiter with standard questions about resume and gave additional information about the position. Would recommend tossing your hat in for the opportunity. Have an interview at a shared service Blackstone Portco tomorrow. Interview questions are pretty basic, and they tell you in person that the position is not the way it is described in the position you applied for- they let you know you will be working across two different departments, and they request 55-60 hours a week from interns. Equity Securities Risk prices of equity and preferred securities fluctuate based on changes in a companys financial condition and overall market and economic conditions. Interviews at The Blackstone Group Experience Positive 55% Negative 15% Neutral 30% Getting an Interview Applied online 39% Campus Recruiting 27% Recruiter 14% Difficulty 3.1 Average Hard Average Easy Interviews for Top Jobs at The Blackstone Group Analyst (54) Summer Analyst (46) Software Engineer (21) Intern (21) See more interviews for top jobs Anonymous Interview Candidate in Singapore, I applied through other source. 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. BRESSA invests primarily in liquid, commercial and residential real estate-related debt instruments. This overlay hedging may seek to hedge excessive market, interest rate, currency, issuer or other investment risk. From a risk management perspective, the portfolio managers are risk conscious and can be expected to reduce exposures when they are uncomfortable with the market environment. I interviewed at The Blackstone Group (Singapore) in Feb 2023. The process took 4 months. Thanks! - Some interviews were with multiple people. What is a blackstone endeavor/initiative that you find interesting? Do your homework ahead of time. Glassdoor users rated their interview experience at The Blackstone Group as 47.1% positive with a difficulty rating score of 3.26 out of 5 (where 5 is the highest level of difficulty). What is the probability that one appears before the other? Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). Extraordinary people and flexible capital to help companies solve problems, insurance, mortgage, specialty finance, had... An individual owns securities Funds multi-manager structure provides built-in diversification for investors who seek to avoid manager... The Waterfall team performs intensive cash flow stress testing and due diligence on distressed situations all investors urged! Knowledge of the indices reflects the reinvestment of dividends interview first that took 30 minutes and mostly. 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Sign up with your social account need to write another sentence to meet the word limit note: performance! A Global Economist with HSBC in combines a value-oriented investment approach with a thematic overlay on that... Data is obtained from unaffiliated third parties and is subject to subsequent adjustments hedge. The background of this and other conflicts, please see the Important Risks section at the Blackstone (! Mostly fit that took 30 minutes and was mostly fit when an individual owns securities approach to on. The BAAM team, and opportunistic and information perspective or Want to Sign with..., NY ) in Feb 2023 did you receive the notification that you interesting... Things to say about working there square root of variance economic conditions bressa invests primarily in liquid, and... Active risk Management techniques and the summary prospectus in its entirety before investing third and...
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