Blackstone is the world’s largest alternative asset manager. 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. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $1.1 trillion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, Twitter, and Instagram.
Business Group: Strategic Partners, GP Stakes
Business Group Overview:
Strategic Partners is a global leader in illiquid fund investing, including secondaries, co-investments and primary advisory. The Strategic Partners business was founded in 2000 and has significant experience in providing limited partners a range of liquidity solutions across illiquid asset classes on a fair, timely and confidential basis. Strategic Partners is one of the most prolific secondary market participants in the world and is recognized as an innovative investor, with broad transaction capabilities that reinforce its established reputation as a nimble and responsive investor. Through its private equity, infrastructure and real estate platforms Strategic Partners has executed 2,100+ transactions that represent interests in around 5,600 underlying fund interests managed by over 1,700 different financial sponsors.
Job Title: Strategic Partners, GP Stakes - Associate
Responsibilities:
- Evaluate and underwrite investments in alternative asset management industry across a variety of asset classes, including private equity, growth equity, private credit, real estate, infrastructure, and secondaries.
- Responsible for the following aspects of the due diligence and investment process:
- Investment research: conduct sector and asset class specific research by reading industry reports and interviewing industry experts.
- Industry competitor analysis: analyze public company filings and gather data sets to conduct proprietary analytics on stock trading performance and valuation trends in a given industry.
- Financial analysis, valuation, and modeling.
- Building discounted cash flow models to analyze the intrinsic value of the target company.
- Conduct sum of the parts analysis.
- Develop underwriting assumptions for investment opportunities based on financial reporting, proprietary research comps.
- Analyze historical financial statements to understand performance trends and risks of each company.
- Business diligence: Conduct diligence calls with counterparties in the target company to evaluate investment playbook, quality of the leadership, and organization.
- Financing and legal process: Manage confirmatory due diligence process for new investments.
- Review draft financial and legal diligence reports and legal documents.
- Coordinate with investment bank, accounting firm, and legal firm for third-party diligence.
- Draft memoranda for internal and external use.
- Presentation:
- Present investment research and valuation analysis during team discussions and formal investment committee meetings.
- Present quarterly valuation updates and findings.
- Lead team discussions throughout the investment process to coordinate internal workstreams and drive decision making.
- Lead external diligence meetings with investment banks and counterparties.
- Monitor portfolio company performance and reporting.
- Conduct regular update calls with portfolio company C-suites to understand latest financial performance and business initiatives.
- Manage quarterly financial reporting and investor update presentation.
- Conduct quarterly valuation on portfolio companies.
- Assist in investors requests related to fund performance and asset performance.
- Produce bespoke analysis to address investor requests.
- Assist in fundraising and marketing process.
- Build investor presentation used for roadshows and investor calls.
- Assist in drafting diligence questionnaires for upcoming fundraises.
- Participate in investor calls and meetings.
- Perform other duties as needed.
Qualifications:
Education:
- Bachelor’s degree (or foreign equivalent) in Finance, Economics, or a related field.
Experience:
- Minimum 2 years of experience in job offered or related occupations.
- Minimum 2 years of experience using Microsoft Excel to build detailed financial models, cash flow pro formas, trading comparables, and transaction comparables.
- Minimum 2 years of experience using Microsoft PowerPoint and Microsoft Word to develop internal and external presentation materials.
- Minimum 2 years of experience using Factset and S&P CapitalIQ or similar market data provider to analyze historical financial statements the financial reporting, summarize performance trends, and identify business opportunities or risks.
- Minimum 2 years of experience conducting due diligence and executing mergers and acquisitions, debt, and equity issuances for companies in the United States.
- Experience can be concurrent.
The duties and responsibilities described here are not exhaustive and additional assignments, duties, or responsibilities may be required of this position. Assignments, duties, and responsibilities may be changed at any time, with or without notice, by Blackstone in its sole discretion.
Expected annual base salary range:
$140,000 - $185,000
Actual base salary within that range will be determined by several components including but not limited to the individual's experience, skills, qualifications and job location. For roles located outside of the US, please disregard the posted salary bands as these roles will follow a separate compensation process based on local market comparables.
Additional compensation: Base salary does not include other forms of compensation or benefits offered in connection with the advertised role.
Blackstone is committed to providing equal employment opportunities to all employees and applicants for employment without regard to race, color, creed, religion, sex, pregnancy, national origin, ancestry, citizenship status, age, marital or partnership status, sexual orientation, gender identity or expression, disability, genetic predisposition, veteran or military status, status as a victim of domestic violence, a sex offense or stalking, or any other class or status in accordance with applicable federal, state and local laws. This policy applies to all terms and conditions of employment, including but not limited to hiring, placement, promotion, termination, transfer, leave of absence, compensation, and training. All Blackstone employees, including but not limited to recruiting personnel and hiring managers, are required to abide by this policy.
If you need a reasonable accommodation to complete your application, please email Human Resources at HR-Recruiting-Americas@Blackstone.com.
Depending on the position, you may be required to obtain certain securities licenses if you are in a client facing role and/or if you are engaged in the following:
Attending client meetings where you are discussing Blackstone products and/or and client questions;
Marketing Blackstone funds to new or existing clients;
Supervising or training securities licensed employees;
Structuring or creating Blackstone funds/products; and
Advising on marketing plans prepared by a sales team or developing and/or contributing information for marketing materials.
Note: The above list is not the exhaustive list of activities requiring securities licenses and there may be roles that require review on a case-by-case basis. Please speak with your Blackstone Recruiting contact with any questions.
To submit your application please complete the form below. Fields marked with a red asterisk * must be completed to be considered for employment (although some can be answered "prefer not to say"). Failure to provide this information may compromise the follow-up of your application. When you have finished click Submit at the bottom of this form.
