They're the world's largest fund-of-funds. I applied through college or university. 3.2,3.2,3.5,3.7,3.43.2,3.2,3.5,3.7,3.4 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. Can you tell me more about your last work experience? It has been expanding this year. J. Tomilson Hill, CEO of BAAM and Vice-Chairman of The Blackstone Group, is the protagonist. 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. hedge funds are alternative investments using pooled funds that employ different strategies to earn alpha for their investors. 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. simooms? Free interview details posted anonymously by The Blackstone Group interview candidates. The business oversees $7.4 billion in assets. Repellendus corporis aut possimus non cum. 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. Besides the fund size, what makes it your dream job? Molestiae perspiciatis ut et necessitatibus. 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. Asked in depth questions on the resume. Copyright 2008-2023, Glassdoor, Inc. 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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%) - 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%). Omnis reprehenderit similique quidem optio possimus voluptas amet. You can't do business from there." Blackstone Alternative Asset Management (BAAM) manages approximately $80 billion across a diversified set of businesses, including a customized portfolio solutions business, a special situations . Has anyone interviewed with either of these groups before and can shed some light? We do this by using extraordinary people and flexible capital to help companies solve problems. Sounds like this is for the sophomore summer program. 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. John P. McCormick will succeed J. Tomilson Hill as president and chief executive of Blackstone Alternative Asset Management (BAAM.) On Fishbowl, you can share insights and advice anonymously with The Blackstone Group employees and get real answers from people on the inside. It's a fund of funds, but they hate that term. - 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. 1/35. and Blackstone Alternative Solutions L.L.C., BAAM's affiliated advisors. Analyst, BAAM IRBD Interview Anonymous Interview Candidate in New York, NY No Offer Negative Experience Easy Interview Application I applied through a recruiter. Expert tips from current & past 11+ Interviewers. 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. Joe Dowling, Blackstone Global Head of BAAM, said:"David and Atish will be key leaders in BAAM and are excellent additions to the team. Copyright 2022 BlackStone Tutors. Nash, who co-founded Blackstone Real Estate Debt Strategies, will become chairman of the GP Stakes platform. 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. or Want to Sign up with your social account? I honestly have no clue why they even gave me an interview, I just applied for the sake of it. The process took 2 weeks. 2005-2023 Wall Street Oasis. Match. 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. Some of its most prominent successes include Senator Investment Group, New Mountain Capital, Francisco Partners and Leonard Green. I interviewed at The Blackstone Group (New York, NY) in Oct 2015. The process took 5 days. All Rights Reserved. This employer has not claimed their Employer Profile and is missing out on connecting with our community. This employer has not claimed their Employer Profile and is missing out on connecting with our community. Dowling will oversee BAAM's investment activities going forward, while McCormick will oversee BAAM's business and investor functions. This was not necessary in my interview but I've found that always helps. Total YOE : 4.5. Blackstone COE (on wipro's payroll) - 18 LPA (including 1.5 lakh as variable pay) 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 you have learned, facilitating a productive meeting requires skills that may be critical to your career success. One of my dream jobs. Please describe the interview / hiring process. Reporting by Svea Herbst-Bayliss; Editing by Dan Grebler. Anonymous Interview Candidate in New York, NY, I applied online. No Reproduction Without Prior Authorizations. BAAM is a fascinating group. Please help me with referal. 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. 101 Investment Banking Interview Questions, 2014 Alpha Summer - BAAM's J. Tomilson Hill, Certified Non-profit Professional - 3rd+ Year Associate, Certified Private Equity Professional - Vice President, Financial Modeling & Valuation 2-Day Bootcamp OPEN NOW - Only 15 Seats, Venture Capital 4-Hour Bootcamp - Sat April 1st - Only 15 Seats, Excel Master 4-Hour Bootcamp OPEN NOW - Only 15 Seats, Venture Capital 4-Hour Bootcamp - Sat May 20th - Only 15 Seats, 6 courses to mastery: Excel, Financial Statement, LBO, M&A, Valuation and DCF, Elite instructors from top BB investment banks and private equity megafunds, Includes Company DB + Video Library Access (1 year). I applied through college or university. I interviewed at The Blackstone Group in Jan 2011. Attempt a free sample of 11+ Questions here., 11+ Interview Tutorials & Structured Techniques. 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. Our Standards: The Thomson Reuters Trust Principles. One of my best interview experiences. Workspace Dashboard for ALL of Life's Tasks? ". All Rights Reserved. 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. You should also brush up on your technical knowledge of the position you're applying for. Interview Tutorials & Structured Techniques. Payments are made through our secure external payment provider. The process took 2 weeks. Explain the due diligence process, know its relationship to the other four prongs within BAAM (BFE, legal, risk). We do this by using extraordinary people and flexible capital to help companies solve problems . Can't find much on WSO either. As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. J. Tomilson Hill, CEO of BAAM and Vice . 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. 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. 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. It will be lower for managers that act like big indexers because alpha has been arbitraged out. Hope some of you guys find this useful. The process took 2 weeks. Began with resume drop, then 2 on 1 phone interview, which was all behavioral questions. Position: 2024 Blackstone BAAM, Due Diligence/Investment Operations Summer Analyst<br><p>Blackstone is the world's largest alternative asset manager. 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), Blackstone's Hedge Fund Solutions platform, is the world's largest discretionary investor in hedge funds, with approximately $80 billion in assets under management. Contribute to the database and get 1 month free* Full online access! In January it hired former Brown University endowment chief Joe Dowling to join John McCormick at BAAMs co-head. 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