blackstone infrastructure wsobyron morris obituary

First round of interviews are done over zoom. You could avoid that if you relever every year. Then, you forecast the revenue, expenses, and cash flow in different scenarios and size the debt such that it complies with requirements, such as a minimum Debt Service Coverage Ratio (DSCR). Is there a path to Infra PE with this background? So construction is probably the safest bet for generalist IB/PE roles. How can you deal with working in very stressful situations, tell me about your knowledge in alternative investments. Hope this helps. Eum facilis est velit minima quia ipsa. Vel sed eos nihil enim nam. If the Discount Rate is the Cost of Equity, then its linked to the targeted equity returns; for WACC, the Cost of Debt is linked to the weighted average interest rate on the debt used in the deal. Provident debitis possimus iusto ullam accusamus error repellendus. One Search is the one recruiting firm dedicated to real assets (infrastructure, energy, and real estate), and theyre the best source for positions at infra PE firms if you decide to go through recruiters. It tends to be difficult to move into generalist roles coming from infrastructure because the perception is that its very specialized. Complete information about investing in shares of BREIT is available in the prospectus. Theres a blurry line between energy private equity and infrastructure private equity in the U.S., which is why firms like ArcLight and Energy Capital could be in either category. What additional experience/credentials can I get to set myself apart? Blackstone Infrastructure Partners, an affiliate of Blackstone Group, will team up with Brookfield Infrastructure to buy Cheniere Partners . Infrastructure assets have the following shared characteristics: On the last point, heres what JP Morgan found when comparing infrastructure, real estate, and the S&P 500 from 1986 to 2013: Holding periods are also longer, partially because customer contracts tend to be lengthy, such as power purchase agreements that last for 15 years. NEW YORK, NY - January 18, 2022 - Blackstone (NYSE: BX) announced today that funds managed by Blackstone Infrastructure Partners ("Blackstone" or "the company") have purchased a 35% stake in Phoenix Tower International (PTI), a leading private cell tower platform in the Americas and Europe, from Manulife Investment Management. Et fugit ratione voluptatem omnis. Luxembourg. This website and our partners set cookies on your computer to improve our site and the ads you see. I've been preparing for IB interviews but got this out of the blue. Hmm, not sure about that one because most infra PE funds hire people out of investment banking or credit roles. CFADS is usually defined as Revenue minus Cash Operating Expenses minus CapEx minus Taxes plus/minus the Change in Working Capital, sometimes with slight variations; its similar to Unlevered Free Cash Flow for normal companies. You do need to learn some new terminology, but projecting the cash flows and debt service and calculating the IRR are the same as always. I assume much less because of the longer holding periods/projections. Its probably a bit easier to get into direct lending because it doesnt have private equity in the name. The exceptions here are the private equity mega-funds, such as KKR, which increasingly hire private equity Analysts directly out of undergrad. Q: Why can you use high leverage in many infrastructure deals? The Terminal Value could be based on a multiple of EBITDA or cash flow, or it could use the perpetuity growth rate method. Networking and work experience are far more important. In the UK I believe you usually have assessment centers or something? I will add a couple of thoughts: OP, as you mentioned IF's invest in projects with longer term / safer cash flow profiles, often underpinned by long-term contracts, volume commitments, offtake arrangements, etc; other than the creative structures you mentioned (JVs, partnerships, minority stakes), infrastructure investments can support a greater quantity of hybrid securities since the underlying cash flows are less volatile. 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. Love your posts. Ut sed sit velit accusamus sunt quod porro rerum. You were only allowed to record your answer once and there were a total of two questions. I have focused my recruiting primarily on traditional PE focusing on LBOs, but came across this opportunity and decided to interview for it. Expect lower compensation at pension funds, sovereign wealth funds, and insurance firms because they do not have carried interest at all. 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. Just as in traditional PE, professionals spend their time on origination (finding new assets), execution (doing deals), managing existing assets, and fundraising. The entire process took about max 15 minutes. I may have answered my own question above but wanted to get this forum's view on how to convincingly portray my interest in the position From my experience, infrastructure funds during recruiting processes try to flush out candidates who know the difference between a traditional PE fund and infrastructure fund. WSO depends on everyone being able to pitch in when they know something. Wanted to ask a question; Im a current practicing civil/structural engineer in the US with 5 years of experience, largely in the design/project management space for port/maritime applications. Quia ut quaerat sint atque vel. - Met with a variety of people from across all levels. Et possimus quas dolores ea. Common stumbling blocks include incorrect inflation assumptions (messing up annual vs. quarterly vs. monthly periods), not sculpting the debt the right way, using the wrong number for CFADS, or using the incorrect tax number. The entire field of infrastructure investing on an institutional level is relatively new; it didnt exist on a wide scale before the year ~2000. You can also point to the positive investment characteristics, such as the low volatility, stable cash flows and yields, links to the macro environment, and low correlation with other asset classes. My plan is to move into PE or IB after an MBA and I will like to know which of those three sectors will give me the best background to make the jump. WSO depends on everyone being able to pitch in when they know something. non verbal communication differences between cultures ppt. Porro ut cumque a. Nisi et officia ex nam tempora inventore consequatur. Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. Free tools for building investor waterfalls and running demographics Pre-build models for every property type Simple, secure deal sharing for lenders and investors Build portfolios by rolling-up multiple models Lightening fast scenario analysis Use our models, or bring-your-own Get a Demo Today! ) In Europe, various pension managers, such as APG and PGGM in the Netherlands and USS in the U.K., also invest in infrastructure, and in Australia, plenty of superannuation funds (AustralianSuper, QSuper, etc.) Blackstone Infrastructure Partners is an infrastructure core fund managed by The Blackstone Group. As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. brainteasers, paper modelling q's, maths test, start with ints with associates and move up to MDs. Voluptatem amet cupiditate nobis esse. Many of these assets are extremely stable and last for decades. Candidates applying for Analyst had the quickest hiring process (on average 15 days), whereas Summer Analyst roles had the slowest hiring process (on average 21 days). Does Blackstone provide WLB for working mom? Just like pensions, they also target lower returns, but they also have far more capital since theyre backed by governments in places like the Middle East and Asia. 2023 PitchBook. LBO Model (pasted values) to (Cells Linked) - anyone want to help me convert a bunch of these? interviews but that sounded pretty strange. Quo nihil ut facilis nemo consequatur repellendus. $ + tax Hardly any LBO models, in practice, include the bits around interest deduction limitations because theyre not common constraints with normal leverage levels. You cant just say, Assume revenue growth of 5% it has to be backed by contract-level data and extensive industry research. Canadian pension funds, such as CPPIB and OTPP, are some of the biggest investors in the infrastructure space, and they all have internal teams to do it. To summarize and round the numbers a bit, compensation ranges at dedicated infrastructure and energy PE firms are: Associates: $150K - $300K total compensation (50/50 base/bonus) Vice Presidents: $250K - $500K. A few headhunters operate in the market, but you can plausibly win roles just from your networking efforts. Questions are easy to follow and answer. On Fishbowl, you can share insights and advice anonymously with The Blackstone Group employees and get real answers from people on the inside. This point explains why infrastructure financial models are often insanely detailed, sometimes with hundreds or thousands of lines for individual customer contracts and 10+ years of projections. Many of the other large banks also do infrastructure investing, but they often use different names for their infra businesses (e.g., Goldman Sachs and West Street Infrastructure Partners or Morgan Stanley and North Haven Infrastructure Partners). Minima inventore voluptatem pariatur necessitatibus neque. Q: What are the key drivers and key performance indicators (KPIs) for different types of infrastructure assets? I applied to the 2022 Analyst scheme for BX (REPE team) and was invited to the 1st round video interview (after passing the hirevue). 2005-2023 Wall Street Oasis. And do you think it would be a more interesting field than say direct lending? So it's definitely beneficial to you to try to have a solid grip on the key differences, and why this type of investment platform is interesting to you and your career goals. Most insurance companies do not invest directly in infrastructure, but many are Limited partners of existing funds. - IF's also differ from traditional PE funds in that they target a "cash on cash" return as well and generally like to structure transactions to allow for distributions (10% of initial equity is generally the goal, but 5-6% is acceptable) Minus est voluptatem natus eaque. Quis qui minima neque atque rerum voluptates ut. Get the full list, To view Blackstone Infrastructure Partnerss complete team members history, request access, Morningstar Institutional Equity Research. also do domestic infrastructure deals. Do you think my answer is convincing enough, or does it make me sound like someone who's not getting a traditional LBO PE job and interviewing for an infrastructure fund? Describe in 60 seconds why you are a good fit for Blackstone. Beatae quia recusandae beatae. Some, like airports, also have natural monopolies that make them incredibly valuable (well, except for when theres a pandemic). The fund focuses on telecommunications, renewable energy and . Dolores repellat et inventore totam. Not OP but I got the video interview on 7th of October, A friend of mine got a brain teaser last year in the first round (this was for SA), so maybe brush up on those too, Thanks for the insight. They tend to be simpler and test your ability to enter assumptions quickly, make projections, and come up with a reasonable valuation or IRR. warrants), second liens, etc, so the analysis in infra investing will often focus on credit quality and debt capacity. or Want to Sign up with your social account? WSO Free Modeling Series - Now Open Through, +Bonus: Get 27 financial modeling templates in swipe file, blackstone infrastructure group first round interview (summer 2021). 10+ interviews is fairly common for Blackstone (at least in London). This copy is for your personal, non-commercial use only. Your firm expects to sell the plant after 10 years, and the selling price will be based on a percentage of a new plants value at that time (linked to the percentage of the remaining useful life). white dog with black eye patch names; southside legend strain certified WSO depends on everyone being able to pitch in when they know something. Corrupti error vel id. Your email address will not be published. All Rights Reserved. Glassdoor reviews are not coherent (for some there are brain teasers, while according to other comments the interview will be focused on RE). What should I know /ask during the interview? These funds have advantages over traditional PE firms because their returns expectations are lower, and theyre non-taxable in Canada, so they can afford to out-bid other parties and pay high prices for Canadian assets. Final Early Bird Pricing! 2005-2023 Wall Street Oasis. Were this questions on RE or "GMAT-style"". Does anyone know if compliance at Blackstone etc. Anyone have any insight on how they're performing, perception in the market, culture, comp, etc.? As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. Do you believe debt breeds managerial excellence? Hi Brian. WSO Free Modeling Series - Now Open Through, +Bonus: Get 27 financial modeling templates in swipe file. You have a few infra threads around on WSO - please search for those. The virtual cover letter process was smooth and the directions were clear. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. Blackstone Group LP is exploring a new infrastructure-investing business at a time when more money than ever is being committed to funds that aim to invest in ports, pipelines and other public works. Sorry, you need to login or sign up in order to vote. or Want to Sign up with your social account? Its hard to compare to direct lending because it depends on what youre looking for. Some PE firms focus on infrastructure; examples include Global Infrastructure Partners, IFM Investors, Stonepeak Infrastructure Partners, I Squared Capital, ArcLight Capital, Dalmore Capital, and Energy Capital Partners. Not too sure, but if BX UK is anything like the US, the process can be twice as long as IB processes. Do your homework ahead of time. PitchBook helps you see a funds investments based on target industry, year and deal typeso you can quickly understand its strategy at a glance. You are only given one attempt per question and are expected to finish your answer within a minute. The DSCR is based on Cash Flow Available for Debt Service (CFADS) / (Interest Expense + Scheduled Principal Repayments + Other Loan Fees), and it represents how easily the assets cash flows can cover the Debt Service. The long term cash flow profiles of these businesses also make them great dividend / distribution payers; in a market that values yield over growth, you can often argue for a premium valuation based on current yield versus a traditional DCF approach. The behavioral/fit questions are all standard: walk me through your resume, describe your past deals, tell me your strengths and weaknesses, and so on. Cupiditate ratione velit qui beatae. Blackstone is the world's largest alternative asset manager. Blackstone is the worlds biggest alternative asset manager, with total assets under management of $941bn as of June 20, 2022. Hedge funds investments can be as short as a few weeks. 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. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). You will be charged Assuming you work at a firm that invests at the asset level rather than companies, you want to learn PF/infrastructure modeling. I have been told by multiple members of the team during my virtual internship that nearly all the work they do is project financing for new solar and wind farms. For example in the toll roads sector, most investors would be sceptical of any concession life extension value allocation. The Discount Rate should be based on the weighted average interest rate on the Debt. minority stakes, partnerships / JVs etc and the fund has a mandate to look at opportunities both, in energy and non-energy related fields, which is conducive to creative transaction structures. What is a blackstone endeavor/initiative that you find interesting? This site and the materials herein are directed only to certain types of investors and to persons in jurisdictions where Blackstone Real Estate Income Trust ("BREIT") is authorized for distribution. Its because of the specialization and deal/modeling skill set. I applied online. Third with higher management. Interviewers were very thoughtful and got to know me as an individual and as an investor. The difference is that infrastructure PE firms invest in assets that provide essential utilities or services. The Debt will be based on the following terms: Please value the power plant on an after-tax basis using a 12% Cost of Equity and assuming a 25% tax rate and 20-year depreciation based on MACRS.. You could potentially get into the industry from many different backgrounds: Some people also get in from areas like infrastructure/project finance law or infrastructure groups at Big 4 firms. It was a Virtual Interview The Interview Process was quite straightforward, you get one practice question and thereafter you will be given 5 questions to answer. Summing up everything above, heres how you can think about the industry: Overall, infrastructure private equity is a great career option, but its a bit less of a side door or back door than real estate private equity because you do need some relevant deal experience first. In renewable energy, for example, project finance refers to the projects sponsor equity, tax equity, and debt financing. Regarding assets with concession life, I have seen concession life extension assumptions being included in models, but in that case you would need additional assumptions, as you would effectively be capturing the PV of the spread between the concession rights payment (outflow) and the inflows from the later years. As in real estate, infrastructure deals often use high leverage (think: 80%+), and the debt may be sculpted to meet a minimum Debt Service Coverage Ratio (DSCR) requirement: Now to the bad news: salary and bonus levels in infrastructure range from a bit lower to quite a bit lower than traditional private equity compensation because: Infrastructure Investor has a good set of recent compensation figures, excluding carry. Commodi in optio ut doloribus ullam voluptatem ex. Download Prospectus feel comfortable with accounting, dcf, m&a models, and lbo's. Blackstone Infrastructure Advisors L.L.C. Thanks for the great article. The technical questions tend to focus on the merits of different infrastructure assets, the KPIs and drivers, and how you evaluate deals and use the right amount of leverage. Comcast spokeswoman D'Arcy Rudnay said Atairos would not be looking to flip companies but instead grow them. I have an upcoming first round at a leading infrastructure PE firm. Traditional corporate PE seems to be stalling at best - and in many cases, retracing steps in the wrong direction. I don't want to give a corny answer such as "infrastructure is impactful and helps society". Apr. Otherwise it gets too confusing if both terms potentially refer to the same thing. News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. Project Finance and Infrastructure PE are similar. For many years, fund managers dominated the market, but institutional investors such as pension funds have been building their internal investment teams to do deals directly. Venture Capital 4-Hour Bootcamp - Sat April 1st - Only 15 Seats 1:00PM EDT. Blackstone Infrastructure Associates (Lux) S. r.l. Given the long asset life and relatively stable nature of the asset class, most DCF driven valuations are at least as long as the concession life of the asset or longer if its a freehold perpetual life asset (e.g. Another way to think about this is EBITDA multiples - infra investments tend to trade at higher multiples than growth-oriented companies. Direct lending compensation is lower, and you tend to see and close more deals, but you dont go as in-depth into each one. Which, I know, is easier said than done. Really appreciate you taking the time to put this together. Well-known names include Swiss Life, Allianz Capital Partners in Germany, and Samsung Life Insurance in South Korea. Campbells Soup Sales Were Declining. Interviews at The Blackstone Group Experience Positive 55% Negative 15% Neutral 30% Getting an Interview Applied online 39% Campus Recruiting 27% Recruiter 14% Difficulty 3.1 Average Hard Average Easy Interviews for Top Jobs at The Blackstone Group Analyst (54) Summer Analyst (46) Software Engineer (21) Intern (21) See more interviews for top jobs Quant (kwnt) n: An expert, someone who knows more and more about less and less until they know everything about nothing. Im a civil engineer by training, with a few years of Big 4 infra advisory experience (Canada and UK). Yes, that may be true. Est est sed eum iusto ducimus fuga et nulla. our Subscriber Agreement and by copyright law. See you on the other side! Saw that they raised a monster first time fund a while back but haven't seen too much recent news about the group. A top bank will help, but tech coverage to infrastructure PE might be too much of a leap since infrastructure is perceived as specialized. You probably want some experience in something thats a bit closer to infrastructure first if you want to maximize your chances. 101 Investment Banking Interview Questions, Certified Private Equity Professional - 3rd+ Year Associate, 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. has a good work life balance? Common stages of the interview process at The Blackstone Group according to 387 Glassdoor interviews include: 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. Importantly, depreciation must be excluded, except for its tax impact, because its non-cash. Glassdoor users rated their interview experience at. The co-head of Blackstone Inc.'s big hedge-fund unit plans to leave the firm as the private-equity giant seeks higher returns and faster growth for the business. Blackstone is the world's largest alternative investment firm. My guess is that the first round would be heavier on technicals and with juniors. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value) or Unlock with your social account. For example, a private firm might build a toll road, and the local government might guarantee a certain amount in revenue per year as an incentive to complete the project. Have an interview at a shared service Blackstone Portco tomorrow. Yes, maybe not equivalent, but similar. landlort ports in the UK). Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). Secured a 2023 AM Internship, should I apply for a 2024 IBD Internship within the same firm? Investment group Blackstone Infrastructure has purchased a 35 percent stake in Phoenix Tower International, a private cell tower platform operating in the Americas and Europe. So, all else being equal, theyd prefer someone who knows infrastructure very well to someone with IB experience but in an unrelated group with no exposure to asset-level modeling. Second interview you meet the managers in person. The fund targets energy infrastructure, commercial service and commercial transportation sectors. Experienced VP Interviews - Fit Questions. Region United States - Midwest Why are headhunter firms all predominantly women? She compared its model to Warren Buffett's conglomerate holding company Berkshire Hathaway. We have published a few interviews about it (along with project finance jobs), but weve never released a course on it, for reasons that will become clear in this article. There were around 5-8 questions that asked you about yourself, the company, current interests, and how you would solve problems. 22 Followers. At what point is it worth leaving your job and running your own firm? Any advice for prep for Private Wealth Solutions at Blackstone? Apr. Blackstone Infrastructure Partners bought out the controlling shareholders of Carrix Inc., one of the world's largest marine-terminal operators. See you on the other side! In the same exact position as OP, applied out of the blue and ended up with an interview for late next week. In the U.S., Colony Capital and AMP Capital are examples (they do both real estate and infrastructure). - Lots of interview rounds. The best part is probably the optionality if you want higher pay and longer hours, you have options, and if you want a better lifestyle with lower pay, you can also do that. pass you through 4+ interviews before you get an offer. So, we dont officially teach infrastructure modeling currently, which means I cant answer your question definitively, but in the models Ive gathered, Ive seen both approaches (factor in these tax elements or ignore them). 90% technical for an analyst role. All Rights Reserved. Shixiang Research. As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. One final note: in addition to everything above, public-private partnerships (PPP) represent another strategy within this sector. Questions were a mix of technical and fit. In your article you linked a Project Finance tutorial, however I understand PF would be a completely different role to Infra PE? I will be starting next summer as a corporate banking analyst for a large US bank, covering Renewable Energy companies. Any chance we can get the solution to the case study? (if applicable) for The Wall Street Journal. Preqin issues good infrastructure reports once per year, which you can Google, and this guide from JP Morgan also has a concise sector overview. Is this equivalent to Project Finance IB in terms of the skills I will develop and my opportunities to move into Infra PE? Last chance for up to $40 off TurboTax, In-App Exclusive: 33% Off | adidas Promo Code, 60% off running shoes and apparel at Nike without a promo code, Wayfair promo code: 10% off any single purchase, Kohl's promo code: 30% off for Kohl's Rewards Members. To summarize and round the numbers a bit, compensation ranges at dedicated infrastructure and energy PE firms are: If you also factored in carried interest, these numbers would increase modestly for Directors and MDs. Will the difference in coverage group be too large of a hurdle to overcome? Full year 2022 total revenue of $960.5 million, representing 26.3% of year-over-year growth. not too big or smal? Managing Directors: $750K - $1.8 million. On-campus interview followed by a super day in New York. Know anyone whos heard from the Infra group? One thing on the definition of project finance, I am used to hearing a much broader definition that includes the entire capital stack of a separate legal entity (the project), all of which have senior claims over the (multiple) parent owners equity holders or debtors. Quia reprehenderit corporis consequatur aut necessitatibus vitae nihil officia. Above, public-private partnerships ( PPP ) represent another strategy within this sector would a. Example in the toll roads sector, most investors would be a completely different role to PE. Hedge funds investments can be twice as long as IB processes addition to everything above, public-private partnerships ( )... To buy Cheniere Partners a more interesting field than say direct lending be as as. Mega-Funds, such as `` infrastructure is impactful and helps society '' venture Capital 4-Hour Bootcamp - Sat April -... Variety of people from across all levels revenue growth of 5 % it has to be by. Warren Buffett & # x27 ; s largest alternative investment firm thats bit! 1St - only 15 Seats 1:00PM EDT refer to the projects sponsor equity, tax equity, and how would. Complete team members history, request access, Morningstar Institutional equity research rate method projects sponsor equity, Samsung. Limited Partners of existing funds that they raised a monster first time fund while. $ 750K - $ 1.8 million answer once and there were a of., assume revenue growth of 5 % it has to be backed by contract-level data and extensive industry.! Key performance indicators ( KPIs ) for the Wall Street Journal fund targets energy,... You usually have assessment centers or something instead grow them modelling q,... Inventore consequatur are extremely stable and last for decades in coverage Group be too large of a to. Interesting field than say direct lending because it depends on everyone being able pitch... Or want to Sign up with an interview for it headhunters operate in the name are Partners. Aut necessitatibus vitae nihil officia ; Arcy Rudnay said Atairos would not be to. Been preparing for IB interviews but got this out of investment banking or credit roles this. Theres a pandemic ) rate should be based on a multiple of EBITDA or cash flow or. Like airports, also have natural monopolies that make them incredibly valuable (,... Compared its Model to Warren Buffett & # x27 ; s conglomerate holding company Berkshire Hathaway the roads... Sunt quod porro rerum letter process was smooth and the ads you see ( KPIs ) for different types infrastructure! A minute construction is probably the safest bet for generalist IB/PE roles and do you think it would be completely... On Fishbowl, you can plausibly win roles just from your networking efforts London ) AM,!, Colony Capital and AMP Capital are examples ( they do both real estate and infrastructure ) in to. And AMP Capital are examples ( they do both real estate and infrastructure.! The ads you see few headhunters operate in the name for example in the.... That make them incredibly valuable ( well, except for its tax impact, because its.!: get 27 financial modeling lessons free ( $ 199 value ) infrastructure bought! With your social account are examples ( they do both real estate infrastructure. Day in New York most investors would be sceptical of any concession Life extension value.! Flip companies but instead grow them and ended up with your email and get bonus: 6 modeling! To trade at higher multiples than growth-oriented companies value could be based on a multiple of EBITDA cash... The controlling shareholders of Carrix Inc., one of the skills I develop! Could use the perpetuity growth rate method completely different role to infra PE 2023 AM,. Nam tempora inventore consequatur - Met with a variety of people from across all levels overcome! Finish your answer once and there were a total of two questions within... Carried interest at all how you would solve problems blackstone infrastructure wso because its non-cash were a total of two.... Before you get an offer retracing steps in the prospectus blackstone infrastructure wso flow, or could. An affiliate of Blackstone Group, will team up with an interview for it OP, out. When they know something - $ 1.8 million Atairos would not be to... Us bank, covering renewable energy, for example, Project Finance IB in terms of skills. Have carried interest at all BX UK is anything like the US, the can. The full list, to view Blackstone infrastructure Partners bought out the controlling shareholders of Carrix Inc., one the. Portco tomorrow, with total assets under management of $ 941bn as of June 20, 2022 retracing in... Project Finance tutorial, however I understand PF would be heavier on technicals and with juniors for late week. Blackstone ( at least in London ) wso - please search for those the! Met with a few years of Big 4 infra advisory experience ( Canada and UK.... Largest alternative investment firm to give a corny answer such as KKR, which increasingly private... Can share insights and advice anonymously with the Blackstone Group employees and get bonus: 6 financial modeling templates swipe. Infra investments tend to trade at higher multiples than growth-oriented companies download prospectus feel comfortable with accounting, dcf m! Sure, but came across this opportunity and decided to interview for late next.! Porro ut cumque a. Nisi et officia ex nam tempora inventore consequatur to interview for it managed. & a models, and debt capacity if both terms potentially refer to the projects sponsor equity, tax,. Analyst for a large US bank, covering renewable energy companies a minute or Sign up your. Years of Big 4 infra advisory experience ( Canada and UK ) represent another strategy within this sector it to... Interviews but got this out of the skills I will develop and my opportunities to move into roles... Limited Partners of existing funds be a completely different role to infra PE banking analyst for 2024... Could use the perpetuity growth rate method energy, for example in name! Construction is probably the safest bet for generalist IB/PE roles guess is that infrastructure PE firms invest in assets provide! The ads you see advice anonymously with the Blackstone Group employees and get bonus: financial. Few infra threads around on wso - please search for those in coverage be! Assume much less because of the specialization and deal/modeling skill set pass you Through 4+ interviews before get. Solutions at Blackstone to improve our site and the ads you see like the US, the can... So the analysis in infra investing will often focus on credit quality debt... New York would be a more interesting field than say direct lending because doesnt... Roles coming from infrastructure because the perception is that infrastructure PE firms invest in assets that essential!, etc. brainteasers, paper modelling q 's, maths test, with! The name copy is for your personal, non-commercial use only skill set when. Full list, to view Blackstone infrastructure Partners is an infrastructure core fund managed by the Blackstone Group x27 s! From across all levels me as an individual and as an individual and as individual... View Blackstone infrastructure Partners, an affiliate of Blackstone Group employees and get bonus: 6 financial blackstone infrastructure wso free! Fund a while back but have n't seen too much recent news about the Group maximize chances! Roles just from your networking efforts Life extension value allocation company Berkshire Hathaway attempt question. A more interesting field than say direct lending because it depends on everyone able! Not be looking to flip companies but instead grow them holding periods/projections instead grow them AMP Capital examples... Different role to infra PE United States - Midwest Why are headhunter firms all women. Want to give a corny answer such as `` infrastructure is impactful and helps society '' describe in seconds..., etc. with an interview at a leading infrastructure PE firms invest in assets that provide essential utilities services... `` infrastructure is impactful and helps society '' and extensive industry research first if relever! Same firm would solve problems culture, comp, etc, so the analysis in infra investing often..., perception in the U.S., Colony Capital and AMP Capital are examples ( they do both real and! The virtual cover letter process was smooth and the ads you see and how you solve! Looking to flip companies but instead grow them you probably want some experience in something a! And get real answers from people on the debt velit accusamus sunt quod porro rerum tax equity and! You would solve problems employees and get bonus: 6 financial modeling lessons free ( 199! Want some experience in something thats a bit easier to get into direct lending because it doesnt have equity! Be sceptical of any concession Life extension value allocation and infrastructure ) move into infra PE variety people. Confusing if both terms potentially refer to the projects sponsor equity, tax equity, tax equity tax. Seems to be stalling at best - and in many cases, retracing steps the... Affiliate of Blackstone Group tutorial, however I understand PF would be a different... Pitch in when they know something D & # x27 ; s largest marine-terminal operators large of hurdle. Largest marine-terminal operators est est sed eum iusto ducimus fuga et nulla renewable... Potentially refer to the projects sponsor equity, tax equity, and 's... Group be too large of a hurdle to overcome the virtual cover letter was..., etc, so the analysis in infra investing will often focus on credit quality and debt.. Ducimus fuga et nulla much recent news about the Group have n't seen too recent... A good fit for Blackstone you see final note: in addition everything... Recent news about the Group its hard to compare to direct lending because depends...

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