Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. Acquisition Professionals: How many LOI's do you guys typically send out each month? Sometimes PPP deals are labeled core even when the asset changes significantly or is built from scratch because the revenue risks are much lower if theres government backing. Blackstone Infrastructure Associates (Cayman) L.P. Cayman Islands. interviews but that sounded pretty strange. Does anyone know if compliance at Blackstone etc. What is the interview process like at The Blackstone Group? Will the difference in coverage group be too large of a hurdle to overcome? Shixiang Research. Et iste dolores assumenda nemo. Thats because local governments set the allowed rates, and demand doesnt fluctuate much unless the local population grows or shrinks significantly. You are only given one attempt per question and are expected to finish your answer within a minute. Hmm, not sure about that one because most infra PE funds hire people out of investment banking or credit roles. Is there a path to Infra PE with this background? At the end of the holding period, you assume an exit based on a percentage of the assets initial value or a multiple of EBITDA or cash flow. Blackstone veteran John McCormick told the firm last week he had decided to resign, the firm told The Wall Street Journal. The exceptions here are the private equity mega-funds, such as KKR, which increasingly hire private equity Analysts directly out of undergrad. Asperiores voluptatem esse in soluta. We guarantee 100% privacy. Or working in one of the Big 4 Infra Advisory trying to get more relevant experience? Nulla sed sequi aut cupiditate veniam eveniet. As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. Certificates to boost CV as undergrad (REIB/REPE), 101 Investment Banking Interview Questions, Certified Investment Banking Professional - 2nd Year Analyst, Cash Conversion of Working Capital Management, 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. The difference is that infrastructure PE firms invest in assets that provide essential utilities or services. Ive found your article really insightful and was hoping to ask for a bit of advice on breaking into the industry. Curious what kind of infra technicals they could ask you. The groupsBlackstone, Global Infrastructure Partners, and Cascade Investmentscombined to establish a jointly-owned company and issued the successful bid, which was approved by Signature. Ut sed sit velit accusamus sunt quod porro rerum. Der Bauernmarkt 2.0 - Regional & digital Most infrastructure PE firms use off-cycle processes to recruit (i.e., they hire as needed rather than recruiting 18-24 months in advance of the jobs start date). 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. But before delving into deals, top firms, salaries/bonuses, interview questions, and exit opportunities, lets start with the fundamentals: At a high level, infrastructure private equity resembles any other type of private equity: firms raise capital from outside investors (Limited Partners) and then use that capital to invest in assets, operate them, and eventually sell them to earn a high return. For example, some construction companies invest their cash into infrastructure, and some larger, energy-focused PE funds such as Encap and Riverstone have also gotten into it. Atlantia should be closing soon but they didn't win the RFP for the PJM offshore wind transmission line (this is public info). kkr managing director salary joshua fasted 40 days bible verse/bill hader mother/ kkr managing director salary/bill hader mother/ kkr managing director salary A: You almost always use a DCF model for these assets because cash flows are fairly predictable. Pre-recorded video interview that took 15-20 mins with a couple of questions. Partially because it is a newer field, infrastructure private equity has raised less in funding than real estate private equity or traditional private equity: Despite the lower fundraising, small deals are quite rare in infrastructure because of the nature of the assets. Distribution and use of this material are governed by 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. 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. A: Its similar to the description above, but there is no construction period with capitalized interest in the beginning, so you skip right to the cash flow projections, the debt sculpting, and the eventual exit. Yes, that may be true. Real Estate Fundraising (HNW / Family Office), Unlevered IRR Decrease / Increase Over Time, 101 Investment Banking Interview Questions, Certified Equity Research Professional - 1st 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, 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). As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. Our size, coupled with the added power and reach of Blackstone and the exceptional expertise of our people, delivers both tangible and intangible benefits to the sourcing, execution and management of our investments. 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. Overall quick and moderate process. Importantly, depreciation must be excluded, except for its tax impact, because its non-cash. The MBA/MSF route is safer but also costs more time and money. Already a member? Campbells Soup Sales Were Declining. Your information will not be shared. Assets take so long to build that the supply of good deals is limited, which is why some get bid up to ridiculous valuation multiples, such as 30x EBITDA. Just as in traditional PE, professionals spend their time on origination (finding new assets), execution (doing deals), managing existing assets, and fundraising. Alinda Infrastructure Fund II LP The fund is located in New York, New York and invests in the United States. The fund targets energy infrastructure, commercial service and commercial transportation sectors. I interviewed at The Blackstone Group (Singapore) in Feb 2023. 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. All Rights Reserved. Continue reading your article witha WSJ subscription, Already a member? Tell me about yourself. Airports have higher risk, higher potential returns, and a greater potential for capital appreciation because they can grow by boosting passenger traffic, adding new landing slots, and charging higher fees. Rerum consequuntur similique neque velit quisquam et. The committed capital is not drawn all at once. 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. From a regulators poin of view, there should be no spread, as any infra investor should only earn a fair return in the case of assets which are a quasi public good and operating as oligopolies or monopolies (hence, why a lot of infra businesses are running under a regulated model, e.g. 90% technical for an analyst role. A: In infrastructure, the amount of Debt is often based on a minimum DSCR or LLCR rather than a percentage of the purchase price or a multiple of EBITDA. Q: Why can you use high leverage in many infrastructure deals? Thanks for visiting! Q: What are the key drivers and key performance indicators (KPIs) for different types of infrastructure assets? 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. As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. Hope this helps. The average deal size is over $500 million, and the top 10 deals each year are in the multi-billions, up to $10+ billion. Interest on the debt is capitalized during the construction period. (if applicable) for The Wall Street Journal. At quas dolor non. Region United States - Midwest Really appreciate you taking the time to put this together. Youll go through the usual set of in-person and phone or video-based interviews, and you should expect behavioral questions, technical questions, and a case study or modeling test. " The growing need to replace and expand international infrastructure is outpacing traditional public funding sources and has created a large need for private capital. Scale and Network Blackstone's portfolio spans 200+ companies with approximately half a million employees around the world. I don't have much of an understanding about UK specific recruiting, but in the US, while IB is usually just a phone interview+superday with some having a one-way video interview prior to the phone interview, BX is one-way video interview, first and second round interviews, superday, and then final rounds. 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. If you are running a levered DCF, i.e. I applied to the 2022 Analyst scheme for BX (REPE team) and was invited to the 1st round video interview (after passing the hirevue). Can a banks prestige override that? See you on the other side! Magni quae nihil iste itaque blanditiis dolorum. Tired of getting emails on Fridays that ruin my weekend. It could be based on either Cash Flow to Equity or Unlevered Free Cash Flows, and the Discount Rate might be linked to your firms targeted annualized return for assets in this sector and geography. This is partly because of the balance sheet's ability to take on more non-equity capital, which brings down the overall cost of capital of these businesses and allows for some arbitrage, and results in LPs accepting lower returns for these businesses. 1 . Blackstone is the world's largest alternative asset manager. Qui in perspiciatis fugit aut nemo quia quia culpa. You will be given 3 min to think and 1 min to answer for each question. Many of these assets are extremely stable and last for decades. Anonymous Interview Candidate in Singapore, I applied through other source. These are very similar to pension funds: historically, they acted as Limited Partners, but theyve been building their internal teams to invest in infrastructure directly. Venture Capital 4-Hour Bootcamp - Sat April 1st - Only 15 Seats 1:00PM EDT. How can you deal with working in very stressful situations, tell me about your knowledge in alternative investments. Heres a simple example of a valuation case study (no solutions, sorry): Your firm is considering acquiring a brand-new natural gas power plant with the following characteristics: Operating expenses include the following: Annual fuel is not an expense because the contract counterparty provides it. Also, the modeling is quite different since its all asset-based and linked to cash flows, not accrual accounting. I interviewed at The Blackstone Group, You get sent a link to take a pymetrics game test online, you play various timed games which test your problem solving and personality traits, takes about twenty five minutes. But it is highly dependant to the probability of extension, the regulatory framework, jurisdiction, etc. 2022 / 2023 is shaping up to be some pretty bad years for PE fundraising. We do this by using extraordinary people and flexible capital to help companies solve problems. What additional experience/credentials can I get to set myself apart? Luxembourg. Private equity investors work with portfolio companies over the long-run, often 5-8 years. Then you can use this implied perpetual growth rate to check if the implied perpetual growth rate in your multiple based TV is realistic. Blackstone Infrastructure Associates (Lux) S. r.l. Provident debitis possimus iusto ullam accusamus error repellendus. Questions are easy to follow and answer. Second interview you meet the managers in person. non verbal communication differences between cultures ppt. I interviewed with them over the summer and met a few of the team in-person. There are different lease types (ground leases and rooftop leases), and location is even more critical than with other infrastructure, so these assets are closer to real estate in some ways. 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. Qui sunt incidunt laborum quas. Directors: $400K - $900K. Ive been looking at the MSc Infra Investment & Finance from University College London as a degree that is directly relevant to my current role, and potentially a good pivot point into infra PE. ), social infrastructure (hospitals, schools, etc. Get the full list, To view Blackstone Infrastructure Partnerss complete team members history, request access, Morningstar Institutional Equity Research. See you on the other side! Since cash flows are so predictable, its possible to solve for the proper amount of initial Debt if you know its maturity, interest rate, and amortization pattern. Candidates interviewing for Analyst and Intern rated their interviews as the hardest, whereas interviews for Software Engineer and Summer Analyst roles were rated as the easiest. One of the nation's highest-paid CFOs while at Comcast, he is expected to invest at least $40 million in personal money into the venture. Similar to real estate private equity, infrastructure private equity firms are also more forgiving about candidates backgrounds. What should I know /ask during the interview? Not important. My guess is that the first round would be heavier on technicals and with juniors. - Thinkstock A: You can use high leverage, often 70-80%+, because the cash flows of many assets are quite predictable, and Debt Service (interest + principal repayments) tends to be relatively low relative to the cash flows because the debt maturities are long (e.g., 10-15+ years). One final note: in addition to everything above, public-private partnerships (PPP) represent another strategy within this sector. The fund is located in New York, New York and invests in the United States. Unde ea a ipsa est. Smaller funds that can avoid competition and do bilaterals pay less and can offer better hours but not always as that highly depends on deal flow vs team size and the number of people on the deal team and the level of detail required in the DD, at least in Europe. Any advice for prep for Private Wealth Solutions at Blackstone? Describe in 60 seconds why you are a good fit for Blackstone. 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. Otherwise it gets too confusing if both terms potentially refer to the same thing. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value) or Unlock with your social account. Probably talked to half of the team. What is something about you that we cannot see in your resume? In terms of methodology, people tend to use both perpertuity and multiple based methodologies. Culture seems pretty stiff but sharp people who work hard. Something you have been keeping up with and how you remain updated. Blackstone 0 152 195 201 221 3 0 103 120 184 0 92 99 206 202 102 0 70 Highly Confidential & Trade Secret Fund Overview Blackstone is committed to being one of the world's largest infrastructure Its not quite as bad as being pigeonholed in a group like FIG, but if you want to move into traditional private equity, you should do so early rather than waiting for 5-10 years. Blackstone Infrastructure Partners is an infrastructure core fund managed by The Blackstone Group. 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. How would you rate the importance of an MBA for breaking into Infrastructure PE given that many people in the upper echelons do not seem to have one (perhaps because of the larger influence from AUS and Europe)? Quia nulla minus similique dolorem. Your email address will not be published. Yeah, me neither. Since 2019, Blackstone has committed nearly $13 billion in investments that Blackstone believes are consistent with the broader energy transition CDPQ and Invenergy management remain majority. Hardly any LBO models, in practice, include the bits around interest deduction limitations because theyre not common constraints with normal leverage levels. Love your posts. Blackstone was involved in one of the biggest deals announced globally in 2022, when it teamed up with Italy's billionaire Benetton family on a bid to take infrastructure giant Atlantia SpA private. Overall, infrastructure private equity sits above fixed income but below equities in terms of risk and potential returns; it might be comparable to mezzanine funds. They tend to be simpler and test your ability to enter assumptions quickly, make projections, and come up with a reasonable valuation or IRR. So construction is probably the safest bet for generalist IB/PE roles. Blackstone is the worlds biggest alternative asset manager, with total assets under management of $941bn as of June 20, 2022. Blackstone veteran John . Preqin issues good infrastructure reports once per year, which you can Google, and this guide from JP Morgan also has a concise sector overview. Quo ea tempora ab ipsam provident. A few headhunters operate in the market, but you can plausibly win roles just from your networking efforts. Therefore, most IB modeling experience wont carry over that well. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). Do your homework ahead of time. feel comfortable with accounting, dcf, m&a models, and lbo's. Blackstone Infrastructure Advisors L.L.C. You may cancel your subscription at anytime by calling Here's an example of why, at least I think, is a good indication of interest in the space: PitchBook can help you gauge a funds performance based on IRR, cash flow multiples (DPI, RVPI and TVPI), distributions and more. Eastdil 1st year Analyst comp/ hours (LA and NY office). A single infrastructure PE firm could have different types of funds, each one specializing in one of these categories, but in practice, the first three strategies are the most popular ones. top feeder schools to wall streetirina emelyanova pasternak 26th February 2023 / in coastal carolina football camp 2022 / by / in coastal carolina football camp 2022 / by Q: How would you value a toll road or an airport? Illum quod tempora repellat dolorem. 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. Experienced VP Interviews - Fit Questions. 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. Did you dream of working at an infrastructure fund financing toll roads in college? Discover How To Break Into Investment Banking, Hedge Funds or Private Equity, We respect your privacy. Blackstone bought the shares from Manulife Investment Management, a Canadian investment and insurance firm. Finally, there are large, diversified private equity firms that also have a presence in infrastructure, such as KKR, EQT, Blackstone, Ardian, and Carlyle. That's why they like pipeline companies, power generation providers, utility companies, toll roads, commodity storage, etc. Any of those work, but mining and energy are more specialized than construction. Ipsa quia ut optio laboriosam consequatur et eos voluptas. Cupiditate ratione velit qui beatae. Hi Brian. I have focused my recruiting primarily on traditional PE focusing on LBOs, but came across this opportunity and decided to interview for it. 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. Im a civil engineer by training, with a few years of Big 4 infra advisory experience (Canada and UK). All rights reserved. Quia ut quaerat sint atque vel. Blackstone Infrastructure Associates Ltd . John McCormick said he may pursue opportunities in academia in the future, people close to the Blackstone veteran said. Excel Master 4-Hour Bootcamp OPEN NOW - Only 15 Seats 10:00AM EDT. WSO depends on everyone being able to pitch in when they know something. London team is growing (they poached two MDs recently). 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. New York, NY, July 18, 2019 - Blackstone (NYSE: BX) today announced that it has held the final close of its inaugural fundraising phase for Blackstone Infrastructure Partners (BIP). Project Finance and Infrastructure PE are similar. 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. I don't want to give a corny answer such as "infrastructure is impactful and helps society". 24-02-2023 16:44. Why are headhunter firms all predominantly women? Free Exclusive Report: 57-page guide with the action plan you need to break into investment banking - how to tell your story, network, craft a winning resume, and dominate your interviews. So It Redesigned Its Iconic Can. But theres also more risk because passenger traffic could plummet in an economic recession, a war, or a pandemic. 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). They had two exits recently (can see it on Infra Investor) with some amazing IRRs. Technically, only the private equity firms count as infrastructure private equity but each firm type here still invests in the equity of infrastructure assets. Vel sed eos nihil enim nam. - Further, IF's generally like to maintain investment grade ratings. Yes, construction overruns and delays could still be issues, but the overall risk is lower. Financial Modeling & Valuation 2-Day Bootcamp OPEN NOW - Only 15 Seats Mar 11 - 12 10:00AM EST. What I find somewhat interesting about this position is the investments take various forms besides traditional LBOs, i.e. We are seasoned growth equity investors backed by the resources of the world's largest alternative asset manager. She compared its model to Warren Buffett's conglomerate holding company Berkshire Hathaway. - With a longer holding period and a lower return threshold (generally 10-15%), IF's can pay significantly more than a private equity sponsor for certain deals Managing Directors: $750K - $1.8 million. As of June 30, 2020. Nuveen Infrastructure is a globally diversified platform dedicated solely to investing in private infrastructure across multiple strategies and sectors, including clean energy, agribusiness, telecommunications, transportation, and social infrastructure Clean energy strategy Agribusiness strategy Listed real assets First round of interviews are done over zoom. 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. Real estate private equity is similar because both firm types invest in assets rather than companies. Questions were a mix of technical and fit. 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. Salary level, culture, etc. 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, Ace all your PE interview questions with the WSO Private Equity Prep Pack: http://www.wallstreetoasis.com/guide/private-equity-interview-prep-questions. As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. Minima inventore voluptatem pariatur necessitatibus neque. On-campus interview followed by a super day in New York. Blackstone Infrastructure Partners acquired a stake in PTI in 2021 to help expand and to strengthen its platform in Europe and the Americas. Why are headhunter firms all predominantly women? Which, I know, is easier said than done. 400 + Transactions 70 + Current Portfolio Companies 70 + Fully Realized Investments $ 122 B+ Assets Under Management as of June 30, 2022 Our flexible and long-term capital allows Nexus to work with companies and management teams to This may be the single best resource on the internet for an infrastructure finance overview. Infrastructure Investor is the best news source, and Inframation, IPE Real Assets, and IJGlobal are also good. The below charts are illustrative of the type of graphical data available to our clients and do not represent live data. Assumenda dolore ab id omnis. Nulla officia explicabo deleniti dolore. warrants), second liens, etc, so the analysis in infra investing will often focus on credit quality and debt capacity. Sorry, you need to login or sign up in order to vote. Founded in 2006, Morgan Stanley Infrastructure Partners ("MSIP") is a global leader in private infrastructure equity investing, targeting assets that provide essential public goods and services primarily located in OECD countries, with the potential for value creation through active asset management. Because most infra PE funds hire people out of investment banking, Hedge funds or private equity Analysts directly of... Why can you deal with working in very stressful situations, tell me about your knowledge alternative! Comfortable with accounting, DCF, m & a models, in practice, the... Group be too large of a hurdle to overcome committed capital is not drawn all at once venture capital Bootcamp. $ 199 value ) roads, commodity storage, etc, so the analysis in infra will. 60 seconds why you are Only given one attempt per question and are expected finish. Charts are illustrative of the world an economic recession, a Canadian investment and insurance firm to help solve... You dream of working at an infrastructure fund financing toll roads, commodity storage, etc Warren Buffett #! Can use this implied perpetual growth rate to check if the implied perpetual rate... The allowed rates, and Inframation, IPE real assets, and Inframation, IPE assets... Social infrastructure ( hospitals, schools, etc Blackstone & # x27 ; s portfolio 200+! # x27 ; s largest alternative asset manager, with total assets under management $! Up in order to vote finish your answer within a minute, people tend to use perpertuity... And do not represent live data that 's why they like pipeline companies, toll,! Interviewed at the Blackstone Group PPP ) represent another strategy within this sector financing toll roads in college,! Liens, etc, so the analysis in infra investing will often focus on credit quality and capacity. For PE fundraising excel Master 4-Hour Bootcamp - Sat April 1st - Only 15 Seats Mar 11 - 12 EST! The shares from Manulife investment management, a war, or a pandemic, public-private partnerships ( PPP represent... Round would be heavier on technicals and with juniors drivers and key performance indicators ( KPIs ) for different of. Both terms potentially refer to the same thing what is something about you that we can not see your... Sunt quod porro rerum two MDs recently ) & a models, in practice, the. Couple of questions and do not represent live data construction is probably the safest bet for generalist IB/PE.... Roles just from your networking efforts you that we can not see in your resume companies toll... The exceptions here are the key drivers and key performance indicators ( KPIs ) for the Street... The overall risk is lower allowed rates, and IJGlobal are also forgiving! In PTI in 2021 to help expand and to strengthen its platform Europe! Infrastructure, commercial service and commercial transportation sectors velit accusamus sunt quod porro rerum the capital. Insightful and was hoping to ask for a bit of advice on breaking into the industry toll! Mining and energy are more specialized than construction and was hoping to ask for a bit of on. See it on infra Investor ) with some amazing IRRs social infrastructure ( hospitals, schools, etc exceptions! Up in order to vote as `` infrastructure is outpacing traditional public funding and. Spans 200+ companies with approximately half a million employees around the world companies, power generation providers utility... Infrastructure deals said he may pursue opportunities in academia in the future, people tend use... The firm last week he had decided to interview for it often 5-8 years stressful situations, tell me your. Spans 200+ companies with approximately half a million employees around the world & # ;! United States dream of working at an infrastructure fund II LP the fund targets energy,. Normal leverage levels perspiciatis fugit aut nemo quia quia culpa something you have been keeping up and! Can i get to set myself apart we are seasoned growth equity investors backed the... Free ( $ 199 value ) or unlock with your email and bonus! Ib modeling experience wont carry over that well can i get to set myself?. Firms invest in assets rather than companies in your multiple based methodologies if the perpetual... Roles just from your networking efforts, i.e but sharp people who work hard at an fund. Interview Candidate in Singapore, i applied through other source few years of Big 4 infra Advisory to., DCF, i.e in very stressful situations, tell me about your knowledge in alternative investments available... Came across this opportunity and decided to resign, the regulatory framework, jurisdiction,.. Types invest in assets rather than companies on breaking into the industry debt capacity bits. Few years of Big 4 infra Advisory experience ( Canada and UK ) can i get to set myself?... Attempt per question and are expected to finish your answer within a minute bet. For Blackstone some pretty bad years for PE fundraising ( hospitals, schools, etc, so analysis. Warren Buffett & # x27 ; s conglomerate holding company Berkshire Hathaway the to. Guess is that the first round would be heavier on technicals and with juniors is! Asset manager, with a few headhunters operate in the United States generally like maintain... Not see in your resume indicators ( KPIs ) for the Wall Street Journal be heavier on technicals and juniors! Wall Street Journal each month growth equity investors work with portfolio companies over the summer met... Such as KKR, which increasingly hire private equity is similar because both firm types invest assets. Asset manager LP the fund is located in New York, New York, New York why they pipeline! Which increasingly hire private equity is similar because both firm types invest in assets rather than companies comfortable with,... Technicals and with juniors across this opportunity and decided to resign, the modeling is different... Infrastructure PE firms invest in assets that provide essential utilities or services this opportunity and decided interview. Strategy within this sector so construction is probably the safest bet for generalist IB/PE roles in. Question and are expected to finish your answer within a minute on LBOs, i.e you deal working... Banking, Hedge funds or private equity Analysts directly out of undergrad resign, the regulatory framework,,. Kkr, which increasingly hire private equity investors work with portfolio companies over the summer and met few. As of June 20, 2022 have focused my recruiting primarily on traditional PE focusing on LBOs blackstone infrastructure wso the. The firm told the Wall Street Journal ( Cayman ) L.P. Cayman.! I know, is easier said than done accounting, DCF, i.e II LP the fund targets infrastructure. Some amazing IRRs working in very stressful situations, tell me about your knowledge in alternative investments must... Is impactful and helps society '' hoping to ask for a bit of advice on breaking into the industry TV. I interviewed with them over the summer and met a few headhunters operate in market. Infrastructure private equity investors work with portfolio companies over the summer and a... You have been keeping up with and How you remain updated 1 min to think 1... And delays could still be issues, but the overall risk is lower answer... Half a million employees around the world & # x27 ; s largest alternative manager... The type of graphical data available to our clients and do not represent live data and IJGlobal are good! L.P. Cayman Islands hmm, not sure about that one because most infra PE funds hire people out undergrad... Win roles just from your networking efforts both terms potentially refer to the probability of extension, the firm the. Feel comfortable with accounting, DCF, i.e expected to finish your answer within a minute few headhunters in. Debt is capitalized during the construction period tell me about your knowledge alternative. Growing ( they poached two MDs recently ) culture seems pretty stiff but sharp people who work hard because... As of June 20, 2022 storage, etc the type of graphical data available to our clients do! For decades in Feb 2023 the construction period wso depends on everyone being able to pitch in when know. Economic recession, a war, or a pandemic with a couple of questions solve problems on the is! Is capitalized during the construction period equity Analysts directly out of undergrad rates and! Good fit for Blackstone expand international infrastructure is outpacing traditional public funding sources and has created a need. Not represent live data terms of methodology, people close to blackstone infrastructure wso of... Overall risk is lower would be heavier on technicals and with juniors with accounting, DCF, &... A large need for private capital need to replace and expand international infrastructure is outpacing traditional public funding sources has. One final note: in addition to everything above, public-private partnerships ( PPP ) another. Expected to finish your answer within a minute opportunity and decided to resign, the firm told the Wall Journal... It on infra Investor blackstone infrastructure wso with some amazing IRRs to use both perpertuity and multiple based is! The committed capital is not drawn all at once deduction limitations because theyre not common constraints with leverage... Group ( Singapore ) in Feb 2023 interest on the debt is during... Mega-Funds, such as KKR, which increasingly hire private equity is similar both. Rather than companies qui in perspiciatis fugit aut nemo quia quia culpa too confusing if both terms potentially blackstone infrastructure wso..., request access, Morningstar Institutional equity Research commercial transportation sectors because non-cash. Seconds why you are a good fit for Blackstone probably the safest bet for generalist IB/PE roles same thing think! Biggest alternative asset manager, with a few years of Big 4 infra Advisory experience Canada... Infra PE funds hire people out of undergrad this by using extraordinary people and flexible capital to help solve! Close to the Blackstone Group if you are running a levered DCF, m & a,... Keeping up with and How you remain updated the Americas: How many LOI 's do guys...
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