Very tough to break into. I had a phone interview first that took 30 minutes and was mostly fit. Blackstone COE (on wipro's payroll) - 18 LPA (including 1.5 lakh as variable pay) Blackstone is the world's biggest investor in hedge funds and its BAAM unit manages $79 billion in assets. Quite frankly I don't know why I was brought in, maybe to cross off a minority interview quota? Martin Electronics has an accounts receivable turnover equal to 15 times. 150+ Past Interview Questions & Model Answers, Interview Tutorials & Structured Techniques, 10:00 - 11:00: BMAT Section 1 Techniques & Practice Questions, 11:45 - 12:45: BMAT Section 2 Key Content & Practice Questions, 14:00 - 15:00: BMAT Section 3 Techniques & Implementation, 15:00 - 16:00: BMAT Section 3 Mock Exam, Feedback & Further Discussion, 16:00 - 16:30: Exclusive Interview Insight. All is based on few recent presentations that I was able to gather. Know your resume inside and out, otherwise you will get stumped. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). Learn More $80B Investor Capital Under Management 26+ Year Track Record 115 simooms? - 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. One of my dream jobs. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Ridiculous AirBnb Fees - worth asking the host? John P. McCormick will succeed J. Tomilson Hill as president and chief executive of Blackstone Alternative Asset Management (BAAM.) BAAM BFE Summer Interview Anonymous Employee in New York, NY Accepted Offer Positive Experience Average Interview Application I applied through college or university. Est natus delectus illo cumque qui. I applied through college or university. Free interview details posted anonymously by The Blackstone Group interview candidates. 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. Typical superday in the office with 4 1 on 1 interviews. Gravity. Has anyone interviewed with either of these groups before and can shed some light? Don't forget to check the attachments. People were rushed and did not have time to answer my questions, they just asked me to email them questions, which they never answered. No Reproduction Without Prior Authorizations. Some of the technicals were difficult, but the interviewers were very patient and mostly looked at your approach to the problem. They're the world's largest fund-of-funds. It has been expanding this year. All Rights Reserved. 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 felt like everyone was very open, energetic, and had only good things to say about working there. I interviewed at The Blackstone Group in Jan 2011. I had a great experience. Kept digging and asking more and more questions about what I did there. Besides the fund size, what makes it your dream job? I had a phone interview first that took 30 minutes and was mostly fit. 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. 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 /. Greenwood, Robin, Luis M. Viceira, and Jared Dourdeville. 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. 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. The process took 2 weeks. Want Access to these Blackstone Group Interview Insights? 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. An excellent post with meaningful content that is relevant to the community. MAQ Software with 13.5 LPA Molestiae perspiciatis ut et necessitatibus. Our stakes business has tremendous momentum partnering with world-class GPs and we are quite excited about whats to come, Gray told Reuters ahead of an announcement of the changes. 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. 5 The Blackstone Group BAAM Analyst interview questions and 5 interview reviews. provide access to alternative investment strategies through portfolio hedge funds, registered liquid funds, direct investing, manager seeding and general partner ownership. BAAM is a fascinating group. - Miami-Fort Lauderdale, FL, United States Area. Do you think hedge funds will generate lower or higher returns in the future, and why do you think so? Copyright 2022 BlackStone Tutors. Contribute to the database and get 1 month free* Full online access! 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. Mostly behavioral questions and a few specifically on operational due diligence and roles within hedge funds. I honestly have no clue why they even gave me an interview, I just applied for the sake of it. There were around 5-8 questions that asked you about yourself, the company, current interests, and how you would solve problems. - 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%). 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. - Number of Negotiated Structures / Transactions:+ Data as of 1/1/14. 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". Flipping a coin infinitely many times, does the pattern HHT or HTH is more likely to appear? 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. Dowling will oversee BAAM's investment activities going forward, while McCormick will oversee BAAM's business and investor functions. Please describe the interview / hiring process. You can't do business from there." So there is a difference then? Repellendus corporis aut possimus non cum. 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). Pre-recorded video interview that took 15-20 mins with a couple of questions. 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. WSO Free Modeling Series - Now Open Through, +Bonus: Get 27 financial modeling templates in swipe file. Blackstone Alternative Asset Management (BAAM) manages approximately $80 billion across a diversified set of businesses, including a customized portfolio solutions business, a special situations . 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