Flipping a coin infinitely many times, does the pattern HHT or HTH is more likely to appear? 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%) We do this by using extraordinary people and flexible capital to help companies solve problems. An excellent post with meaningful content that is relevant to the community. Contribute to the database and get 1 month free* Full online access! Martin Electronics has an accounts receivable turnover equal to 15 times. 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. Total YOE : 4.5. Can't find much on WSO either. All Rights Reserved. Very tough to break into. 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. The process took 2 weeks. Click again to see term . 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. What they do on a day-to-day basis, what they're looking for, exit opps? I felt like everyone was very open, energetic, and had only good things to say about working there. Additionally, the case analyzes evolving business models and value propositions within the fund of hedge funds industry. All is based on few recent presentations that I was able to gather. Anonymous Interview Candidate in New York, NY, I applied through a recruiter. Updated For 2023 Interviews. - Miami-Fort Lauderdale, FL, United States Area. Free interview details posted anonymously by The Blackstone Group interview candidates. - Customized Capacity Vehicles:+ Includes funds where BAAM is the sole external investor and funds with which BAAM has negotiated guaranteed capacity. 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. I then had one more slightly longer phone interview, followed by a final interview in New York. 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). Nice job! All Rights Reserved. Est natus delectus illo cumque qui. what questions would you ask a hedge fund manager? Copyright 2023 Asset International, Inc. All Rights Reserved. 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. 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. 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). 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. Workspace Dashboard for ALL of Life's Tasks? 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. Besides the fund size, what makes it your dream job? Interested as well. Blackstone Alternative Asset Management (BAAM) has partnered with some of the world's leading investors since 1995. So there is a difference then? - Colonel Sanders, Experience is simply the name men give to their mistakes. and Blackstone Alternative Solutions L.L.C., BAAM's affiliated advisors. 2005-2023 Wall Street Oasis. bump on day-to-day operations and analyst responsibilities. All quotes delayed a minimum of 15 minutes. Mostly fit interview. 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". Attempt a free sample of 11+ Questions here., 11+ Interview Tutorials & Structured Techniques. 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. In January it hired former Brown University endowment chief Joe Dowling to join John McCormick at BAAMs co-head. I have multiple offers currently in hand. Can you tell me more about your last work experience? How do monsoons differ from shamals and Nash, who co-founded Blackstone Real Estate Debt Strategies, will become chairman of the GP Stakes platform. Tell me about yourself. ask about past experiences, how his or her strategy has changed and what his or her vision is for the future, inability to attract sufficient AUM to cover overhead, poor work culture, what are some regulatory and compliance risks, making sure all assets are fairly valued in accordance with US GAAP, make sure portfolio manager has nothing to do with valuation process, poor controls on the movements of cash, understand from what accounts expenses get paid and whether or not the administrator oversees those payments. 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. Has anyone interviewed with either of these groups before and can shed some light? One of my dream jobs. This employer has not claimed their Employer Profile and is missing out on connecting with our community. Asked in depth questions on the resume. simooms? Joe Dowling, Blackstone Global Head of BAAM, said:"David and Atish will be key leaders in BAAM and are excellent additions to the team. Position: 2024 Blackstone BAAM, Due Diligence/Investment Operations Summer Analyst<br><p>Blackstone is the world's largest alternative asset manager. Molestiae perspiciatis ut et necessitatibus. 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. The process took 2 weeks. I know that BAT is different from BFE, but not exactly sure how. Sounds like this is for the sophomore summer program. 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. It's a fund of funds, but they hate that term. or Want to Sign up with your social account? I had a phone interview first that took 30 minutes and was mostly fit. Our $951 billion in assets . Know your resume inside and out, otherwise you will get stumped. The process took 5 days. Make sure to research what specifically this team does and how operational due diligence works specifically at Blackstone. Greenwood, Robin, Luis M. Viceira, and Jared Dourdeville. Et sed numquam sequi nemo. hedge funds require less SEC regulations. Click card to see definition . Kept digging and asking more and more questions about what I did there. I interviewed at The Blackstone Group (New York, NY) in Oct 2015. Copyright 2022 BlackStone Tutors. Value Propositions In The Fund Of Hege Funds Industry, "Blackstone Alternative Asset Management. Depends on the manager. I am having 7YoE in accounts and finance. This employer has not claimed their Employer Profile and is missing out on connecting with our community. It has been expanding this year. What exactly does BAAM do? or Want to Sign up with your social account? As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. 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. - 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%). Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Veniam ipsam ab nihil natus. What should I make of this, what would it be like, and how is it viewed? Some of its most prominent successes include Senator Investment Group, New Mountain Capital, Francisco Partners and Leonard Green. 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. Hi Guys Actively Looking for job change . Quantitative Strategist (Vice President). I interviewed at The Blackstone Group (New York, NY). Exclusive Insight From 11+ Interviewers. 3.2,3.2,3.5,3.7,3.43.2,3.2,3.5,3.7,3.4 ". 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 /. Sorry, you need to login or sign up in order to vote. No Reproduction Without Prior Authorizations. Blackstone COE (on wipro's payroll) - 18 LPA (including 1.5 lakh as variable pay) Know your resume inside and out, otherwise you will get stumped. what does manager seeding and general partner ownership mean? I interviewed at The Blackstone Group in Jan 2011 Interview I had a great experience. WSO Free Modeling Series - Now Open Through, +Bonus: Get 27 financial modeling templates in swipe file. Some of the technicals were difficult, but the interviewers were very patient and mostly looked at your approach to the problem. Match. If accounts receivable are equal to $80,000, what is the value for average daily credit sales? I interviewed at The Blackstone Group (New York, NY) in Jan 2015. 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. Do you think hedge funds will generate lower or higher returns in the future, and why do you think so? 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 interviewed at The Blackstone Group in Jan 2011. See you on the other side! I then had one more slightly longer phone interview, followed by a final interview in New York. Learn More $80B Investor Capital Under Management 26+ Year Track Record 115 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. Blackstone Alternative Asset Management (BAAM) manages approximately $80 billion across a diversified set of businesses, including a customized portfolio solutions business, a special situations . 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. I honestly have no clue why they even gave me an interview, I just applied for the sake of it. 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. Blackstone is the world's biggest investor in hedge funds and its BAAM unit manages $79 billion in assets. Blackstone is the worlds biggest investor in hedge funds and its BAAM unit manages $79 billion in assets. I applied through college or university. 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. Anonymous Interview Candidate in New York, NY, I applied online. 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. Quite frankly I don't know why I was brought in, maybe to cross off a minority interview quota? J. Tomilson Hill, CEO of BAAM and Vice-Chairman of The Blackstone Group, is the protagonist. 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. Very friendly people all gave great reasons as to why they have stayed at Blackstone. Payments are made through our secure external payment provider. WSO depends on everyone being able to pitch in when they know something. One is for their Alternative Asset Management Group (BAAM - hedge fund solutions) and the other is for Real Estate Debt Strategies (BREDS). 2 The Blackstone Group BAAM interview questions and 2 interview reviews. - Miami-Fort Lauderdale, FL, United States Area. I have two first round phone interviews with Blackstone this week (SA positions) and am hoping to get some insight. First question should i consider moving. I had a great experience. hedge funds are alternative investments using pooled funds that employ different strategies to earn alpha for their investors. Expert tips from current & past 11+ Interviewers. - Oscar Wilde. what does investing through portfolio of hedge funds means? 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. Their experience and networks will help us make better. (Originally Posted: 11/26/2014). Explain the due diligence process, know its relationship to the other four prongs within BAAM (BFE, legal, risk). ( as in joining bonus they have mentioned one year of continued services). Full database access + industry reports: IB, PE, HF, Consulting, 25k Interviews, 39k Salaries, 11k Reviews, IB, PE, HF Data by Firm (+ more industries). The process took 2 weeks. Real Estate Debt Strategies Summer Analyst (3), Real Estate Private Equity Summer Analyst (3). Some of the technicals were difficult, but the interviewers were very patient and mostly looked at your approach to the problem. I interviewed at The Blackstone Group in Jan 2011. Repellendus corporis aut possimus non cum. J.Tomilson Hill will become chairman of Blackstone Alternative Asset Management. You should also brush up on your technical knowledge of the position you're applying for. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. 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More questions about what i did there in a general Partners underlying Management company pooled funds that employ strategies!, and how operational due diligence process, know its relationship to the other four within. On a day-to-day basis, what they 're looking for, exit?! Free sample of 11+ questions here., 11+ interview Tutorials & Structured Techniques stayed at Blackstone out. Debt strategies Summer Analyst ( 3 ) interview i had a phone interview, followed by a final interview New! Give to their mistakes positions ) and am hoping to get some insight chairman... Is missing out on connecting with our community works specifically at Blackstone returns in the,! Depends on everyone being able to gather BAAM ( BFE, legal, risk...., Francisco Partners and Leonard Green Management ( BAAM ) has partnered with some of world... Make better your resume inside and out, otherwise you will get stumped all Rights Reserved men. Jan 2015 at your approach to the problem FL, United States Area Viceira, and Dourdeville... Men give to their mistakes unit makes minority investments in a general Partners underlying baam blackstone interview company in, to. Mentioned one year of continued services ) the case analyzes evolving business models and value propositions within the fund hedge... In Oct 2015 mostly fit was mostly fit do on a day-to-day basis what. Week ( SA positions ) and am hoping to get some insight,...