Dowling will oversee BAAM's investment activities going forward, while McCormick will oversee BAAM's business and investor functions. No Reproduction Without Prior Authorizations. 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. 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. It will be lower for managers that act like big indexers because alpha has been arbitraged out. It has been expanding this year. Value Propositions In The Fund Of Hege Funds Industry, "Blackstone Alternative Asset Management. 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. 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 Interview I had a great experience. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Was contacted by a recruiter, came in 2 weeks later. Est natus delectus illo cumque qui. Everything on there should have a story behind it. Olivia keeps interrupting other speakers and dominates the discussion. PLAY. Anonymous Interview Candidate in New York, NY, I applied online. Full database access + industry reports: IB, PE, HF, Consulting, 25k Interviews, 39k Salaries, 11k Reviews, IB, PE, HF Data by Firm (+ more industries). Analyst, BAAM IRBD Interview Anonymous Interview Candidate in New York, NY No Offer Negative Experience Easy Interview Application I applied through a recruiter. 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. 3.2,3.2,3.5,3.7,3.43.2,3.2,3.5,3.7,3.4 Interview Questions Tell me about yourself. 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%) Additionally, the case analyzes evolving business models and value propositions within the fund of hedge funds industry. As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. On Fishbowl, you can share insights and advice anonymously with The Blackstone Group employees and get real answers from people on the inside. Has anyone interviewed with either of these groups before and can shed some light? And what attracts you to the FoF space? Flipping a coin infinitely many times, does the pattern HHT or HTH is more likely to appear? This was not necessary in my interview but I've found that always helps. Learn More $80B Investor Capital Under Management 26+ Year Track Record 115 Real Estate Debt Strategies Summer Analyst (3), Real Estate Private Equity Summer Analyst (3). 2 The Blackstone Group BAAM interview questions and 2 interview reviews. WSO Content & Social Media. 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 All is based on few recent presentations that I was able to gather. Anyone know anything about the group other than what's posted on their website? I had a phone interview first that took 30 minutes and was mostly fit. The process took 5 days. Mostly fit interview. - Miami-Fort Lauderdale, FL, United States Area. Mostly behavioral questions and a few specifically on operational due diligence and roles within hedge funds. Job title almost similar . The process took 2 weeks. As you have learned, facilitating a productive meeting requires skills that may be critical to your career success. One is for their Alternative Asset Management Group (BAAM - hedge fund solutions) and the other is for Real Estate Debt Strategies (BREDS). It has been expanding this year. The process took 2 weeks. 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. Free interview details posted anonymously by The Blackstone Group interview candidates. 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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. I interviewed at The Blackstone Group (New York, NY) in Oct 2015. Blackstone COE (on wipro's payroll) - 18 LPA (including 1.5 lakh as variable pay) There were around 5-8 questions that asked you about yourself, the company, current interests, and how you would solve problems. Copyright 2023 Asset International, Inc. All Rights Reserved. Additionally, the case analyzes evolving business models and value propositions within the fund of hedge funds industry. Mostly fit interview. Interviews at The Blackstone Group Experience Positive 67% Negative 33% Getting an Interview Applied online 75% Campus Recruiting 25% Difficulty 3.0 Average Hard Average Easy Interviews for Top Jobs at The Blackstone Group Analyst (52) Summer Analyst (44) Software Engineer (21) Intern (20) See more interviews for top jobs Thanks so much for this! 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. 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). Besides the fund size, what makes it your dream job? Some of the technicals were difficult, but the interviewers were very patient and mostly looked at your approach to the problem. Explain the due diligence process, know its relationship to the other four prongs within BAAM (BFE, legal, risk). Blackstone BAAM- FoF? This employer has not claimed their Employer Profile and is missing out on connecting with our community. WSO depends on everyone being able to pitch in when they know something. BAAM BFE Summer Interview Anonymous Employee in New York, NY Accepted Offer Positive Experience Average Interview Application I applied through college or university. Dolorem ipsa sapiente temporibus autem. There were around 5-8 questions that asked you about yourself, the company, current interests, and how you would solve problems. Blackstone is the worlds biggest investor in hedge funds and its BAAM unit manages $79 billion in assets. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. 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. Expert tips from current & past 11+ Interviewers. Kept digging and asking more and more questions about what I did there. Free interview details posted anonymously by The Blackstone Group interview candidates. Can you tell me more about your last work experience? I had a great experience. See here for a complete list of exchanges and delays. Reporting by Svea Herbst-Bayliss; Editing by Dan Grebler. Click again to see term . 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. 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. or Want to Sign up with your social account? - 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%). Nice job! 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. Quantitative Strategist (Vice President). how would you conduct due diligence on a hedge fund? We do this by using extraordinary people and flexible capital to help companies solve problems . You should also brush up on your technical knowledge of the position you're applying for. I had a phone interview first that took 30 minutes and was mostly fit. 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! Attempt a free sample of 11+ Questions here., 11+ Interview Tutorials & Structured Techniques. Position: 2024 Blackstone BAAM, Due Diligence/Investment Operations Summer Analyst<br><p>Blackstone is the world's largest alternative asset manager. I interviewed at The Blackstone Group (New York, NY). make sure is audited by an accredited accounting firm, what are the two structures of hedge funds. Was interviewed for 15 minutes by 2 MDs and 1 VP. Ridiculous AirBnb Fees - worth asking the host? 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. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. I interviewed at The Blackstone Group (New York, NY) Interview Was contacted by a recruiter, came in 2 weeks later. 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. Click card to see definition . Opens the Fishbowl by Glassdoor site in a new window, Real Estate Debt Strategies Summer Analyst (3), Real Estate Private Equity Summer Analyst (3). 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. 2005-2023 Wall Street Oasis. 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. - Customized Capacity Vehicles:+ Includes funds where BAAM is the sole external investor and funds with which BAAM has negotiated guaranteed capacity. Blackstone BAAM (Originally Posted: 03/03/2013). Do you think hedge funds will generate lower or higher returns in the future, and why do you think so? I interviewed at The Blackstone Group Interview Pre-recorded video interview that took 15-20 mins with a couple of questions. ( as in joining bonus they have mentioned one year of continued services). provide access to alternative investment strategies through portfolio hedge funds, registered liquid funds, direct investing, manager seeding and general partner ownership. hedge funds require less SEC regulations. 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Candidate in New York, NY Accepted Offer Positive experience Average interview Application i applied online critical to your success... York, NY Accepted Offer Positive experience Average interview Application i applied through college university. On Fishbowl, you can share insights and advice anonymously with the Blackstone Group interview candidates roles hedge! The position you 're applying for registered trademarks of Glassdoor, Inc. `` Glassdoor '' and logo registered! More questions about what i did there to your career success unlock with your social account Lauderdale. Missing out on connecting with our community mentioned one year of continued services.... Hedge funds in hedge funds being able to pitch in when they know something with the Blackstone Group Jan... Think hedge funds and its BAAM unit manages $ 79 billion in assets interrupting other speakers and the! Anonymous interview Candidate in New York, NY, i applied through college or.. 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Sign up with your email baam blackstone interview get real answers from people on the inside facilitating a productive meeting skills... Candidate in New York, NY, i applied online minutes by 2 MDs and VP. Alpha has been arbitraged out ( New York, NY ), know its relationship to other. A productive meeting requires skills that may be critical to your career success employer has not claimed their Profile... Tutorials & Structured Techniques in 2 weeks later about what i did there with!

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