People were rushed and did not have time to answer my questions, they just asked me to email them questions, which they never answered. Asked in depth questions on the resume. Please describe the interview / hiring process. Payments are made through our secure external payment provider. This employer has not claimed their Employer Profile and is missing out on connecting with our community. 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. Find the modes, medians, and means of the scores. Sounds like this is for the sophomore summer program. This employer has not claimed their Employer Profile and is missing out on connecting with our community. So there is a difference then? I had a great experience. provide access to alternative investment strategies through portfolio hedge funds, registered liquid funds, direct investing, manager seeding and general partner ownership. Kept digging and asking more and more questions about what I did there. I interviewed at The Blackstone Group in Jan 2011. What is the probability that one appears before the other? Private Equity, Asset Management, Hedge Funds, Investment Banking. Workspace Dashboard for ALL of Life's Tasks? 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. 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. 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. 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. 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. what is the most significant operational risk? what questions would you ask a hedge fund manager? - Colonel Sanders, Experience is simply the name men give to their mistakes. 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. There were around 5-8 questions that asked you about yourself, the company, current interests, and how you would solve problems. PLAY. what does manager seeding and general partner ownership mean? - Number of Negotiated Structures / Transactions:+ Data as of 1/1/14. Free interview details posted anonymously by The Blackstone Group interview candidates. Free interview details posted anonymously by The Blackstone Group interview candidates. Ridiculous AirBnb Fees - worth asking the host? Opens the Fishbowl by Glassdoor site in a new window, Real Estate Debt Strategies Summer Analyst (3), Real Estate Private Equity Summer Analyst (3). Explain the due diligence process, know its relationship to the other four prongs within BAAM (BFE, legal, risk). Typical superday in the office with 4 1 on 1 interviews. 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. bump on day-to-day operations and analyst responsibilities. 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. You should also brush up on your technical knowledge of the position you're applying for. 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. 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. One is for their Alternative Asset Management Group (BAAM - hedge fund solutions) and the other is for Real Estate Debt Strategies (BREDS). You can't do business from there." I had a great experience. Mostly fit interview. Their experience and networks will help us make better. One of my best interview experiences. 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. 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. Know your resume inside and out, otherwise you will get stumped. - 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. J. Tomilson Hill, CEO of BAAM and Vice-Chairman of The Blackstone Group, is the protagonist. I had a phone interview first that took 30 minutes and was mostly fit. Additionally, the case analyzes evolving business models and value propositions within the fund of hedge funds industry. Would you say that the two are similar or have you heard of what the summer program is like? On Fishbowl, you can share insights and advice anonymously with The Blackstone Group employees and get real answers from people on the inside. 3.2,3.2,3.5,3.7,3.43.2,3.2,3.5,3.7,3.4 2 The Blackstone Group BAAM interview questions and 2 interview reviews. I know that BAT is different from BFE, but not exactly sure how. Copyright 2022 BlackStone Tutors. 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. See here for a complete list of exchanges and delays. Make sure to research what specifically this team does and how operational due diligence works specifically at Blackstone. Match. Anonymous Interview Candidate in New York, NY, I applied through a recruiter. Was contacted by a recruiter, came in 2 weeks later. Besides the fund size, what makes it your dream job? 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". I applied through college or university. 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. - Miami-Fort Lauderdale, FL, United States Area. Everything on there should have a story behind it. John P. McCormick will succeed J. Tomilson Hill as president and chief executive of Blackstone Alternative Asset Management (BAAM.) 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. The process took 5 days. 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. 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. The process took 2 weeks. Anonymous Interview Candidate in New York, NY, I applied online. Accenture 16 LPA ( Including 2.59 Lakh as variable pay) I interviewed at The Blackstone Group Interview Pre-recorded video interview that took 15-20 mins with a couple of questions. Tell me about yourself. What they do on a day-to-day basis, what they're looking for, exit opps? I interviewed at The Blackstone Group in Jan 2011. - Oscar Wilde. At BlackStone Tutors, we have a very simple mission to provide consistently excellent examination and application assistance to students throughout the world. 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 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. Blackstone Alternative Asset Management (BAAM) manages approximately $80 billion across a diversified set of businesses, including a customized portfolio solutions business, a special situations . Want Access to these Blackstone Group Interview Insights? 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). 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. How do monsoons differ from shamals and In the context of the current fund of hedge funds industry, the case considers challenges and opportunities for these potential new areas for growth. 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. Updated For 2023 Interviews. I interviewed at The Blackstone Group (New York, NY). Kept digging and asking more and more questions about what I did there. 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. 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. I interviewed at The Blackstone Group (New York, NY) in Oct 2015 Interview ( as in joining bonus they have mentioned one year of continued services). Can you tell me more about your last work experience? 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 then had one more slightly longer phone interview, followed by a final interview in New York. 150+ Past Interview Questions & Model Answers. Please help me with referal. Martin Electronics has an accounts receivable turnover equal to 15 times. 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. 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. Exclusive Insight From 11+ Interviewers. Position: 2024 Blackstone BAAM, Due Diligence/Investment Operations Summer Analyst<br><p>Blackstone is the world's largest alternative asset manager. Real Estate Debt Strategies Summer Analyst (3), Real Estate Private Equity Summer Analyst (3). I interviewed at The Blackstone Group (New York, NY) in Jan 2015. ". I interviewed at The Blackstone Group (New York, NY) in Jan 2015. Full database access + industry reports: IB, PE, HF, Consulting, 25k Interviews, 39k Salaries, 11k Reviews, IB, PE, HF Data by Firm (+ more industries). Will resigning before is not considered continuous service. Explain the due diligence process, know its relationship to the other four prongs within BAAM (BFE, legal, risk). Blackstone Alternative Asset Management (BAAM) has partnered with some of the world's leading investors since 1995. Blackstone is the world's biggest investor in hedge funds and its BAAM unit manages $79 billion in assets. Position: 2024 Blackstone BAAM, Investment Summer Analyst<br><p>Blackstone is the world's largest alternative asset manager. The process took 2 weeks. Blackstone BAAM (Originally Posted: 03/03/2013). hedge funds are alternative investments using pooled funds that employ different strategies to earn alpha for their investors. I have multiple offers currently in hand. Total YOE : 4.5. Pre-recorded video interview that took 15-20 mins with a couple of questions. 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. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). Quantitative Strategist (Vice President). Hi , i joined ey gds on xx feb 2022, now have received a offer from blackstone coe at 40% hike. 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. Interview Questions Tell me about yourself. BAAM is a fascinating group. Very tough to break into. Optio at architecto ea molestiae. Was interviewed for 15 minutes by 2 MDs and 1 VP. Real Estate Debt Strategies Summer Analyst (3), Real Estate Private Equity Summer Analyst (3), The Ultimate Job Interview Preparation Guide. 1/35. MAQ Software with 13.5 LPA Very friendly people all gave great reasons as to why they have stayed at Blackstone. or Want to Sign up with your social account? 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. An excellent post with meaningful content that is relevant to the community. Interested as well. As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. Hope some of you guys find this useful. WSO depends on everyone being able to pitch in when they know something. All Rights Reserved. 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. Some of its most prominent successes include Senator Investment Group, New Mountain Capital, Francisco Partners and Leonard Green. You should also brush up on your technical knowledge of the position you're applying for. This was not necessary in my interview but I've found that always helps. Contribute to the database and get 1 month free* Full online access! Sunt dolorem reprehenderit quia ipsum iure et. 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. 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. BAAM Interview Anonymous Employee Accepted Offer Positive Experience Difficult Interview Application I applied through college or university. There were around 5-8 questions that asked you about yourself, the company, current interests, and how you would solve problems. I don't have any real finance experience and can't "talk the talk." Anyone had this interview who could give me some advice? We do this by using extraordinary people and flexible capital to help companies solve problems. I am having 7YoE in accounts and finance. 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. I honestly have no clue why they even gave me an interview, I just applied for the sake of it. Don't forget to check the attachments. I had interviewed in the past for a Real Estate IRBD role and this team was the complete opposite, very friendly and eager to interview me. Repellendus corporis aut possimus non cum. 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. All Rights Reserved. make sure is audited by an accredited accounting firm, what are the two structures of hedge funds. I have two first round phone interviews with Blackstone this week (SA positions) and am hoping to get some insight. Blackstone BAAM? 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 /. This was not necessary in my interview but I've found that always helps. I applied through college or university. - Miami-Fort Lauderdale, FL, United States Area. 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). 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. Our $951 billion in assets . 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. It has been expanding this year. Anonymous Interview Candidate in New York, NY, I applied online. What is the probability that one appears before the other? what does investing through portfolio of hedge funds means? - 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. First question should i consider moving. 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. 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 Flipping a coin infinitely many times, does the pattern HHT or HTH is more likely to appear? They do some interesting stuff in terms of HOW they create the portfolios, but in the end, it's still a FoF. Blackstone BAAM- FoF? Quite frankly I don't know why I was brought in, maybe to cross off a minority interview quota? Blackstone COE (on wipro's payroll) - 18 LPA (including 1.5 lakh as variable pay) Joe Dowling, Blackstone Global Head of BAAM, said:"David and Atish will be key leaders in BAAM and are excellent additions to the team. Mostly behavioral questions and a few specifically on operational due diligence and roles within hedge funds. Has anyone interviewed with either of these groups before and can shed some light? Nice job! This employer has not claimed their Employer Profile and is missing out on connecting with our community. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. - 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%). 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! Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Olivia keeps interrupting other speakers and dominates the discussion. (Originally Posted: 11/26/2014). The process took 2 weeks. All Rights Reserved. Something you have been keeping up with and how you remain updated. Please help me choose the right organisation hedge funds require less SEC regulations. BAAM BFE Summer Interview Anonymous Employee in New York, NY Accepted Offer Positive Experience Average Interview Application I applied through college or university. Click card to see definition . or Want to Sign up with your social account? Veniam ipsam ab nihil natus. See you on the other side! I had a phone interview first that took 30 minutes and was mostly fit. 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. Follow us: Linkedin, IG, Facebook, Twitter. I interviewed at The Blackstone Group (New York, NY) Interview Was contacted by a recruiter, came in 2 weeks later. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Began with resume drop, then 2 on 1 phone interview, which was all behavioral questions. Some of the technicals were difficult, but the interviewers were very patient and mostly looked at your approach to the problem. Do you think hedge funds will generate lower or higher returns in the future, and why do you think so? Everything on there should have a story behind it. 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). Est natus delectus illo cumque qui. Anyone know anything about the group other than what's posted on their website? As you have learned, facilitating a productive meeting requires skills that may be critical to your career success. Additionally, the case analyzes evolving business models and value propositions within the fund of hedge funds industry. What should I make of this, what would it be like, and how is it viewed?
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