blackstone infrastructure wso

Hi Brian. As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. 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. The most common entry points into infrastructure PE are also the most common exit opportunities: investment banking, project finance, real estate, other areas of PE, infrastructure corporates/developers, and Big 4 infrastructure groups. Something you have been keeping up with and how you remain updated. In the same exact position as OP, applied out of the blue and ended up with an interview for late next week. Sidley represented Invenergy in a definitive agreement with Blackstone Infrastructure Partners and Caisse de dpt et placement du Qubec (CDPQ) for an approximately US$3 billion equity investment in Invenergy Renewables Holdings LLC ("Invenergy Renewables"), the largest private renewable energy company in North America, by funds managed by 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. Brian, this was incredibly thorough and very appreciated, thank you! 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. I assume much less because of the longer holding periods/projections. Minima inventore voluptatem pariatur necessitatibus neque. Blackstone Strategic Partners Infrastructure, Global Head of Infrastructure & Senior Managing Director, Senior Managing Director & Head of Strategic Investments, Real Estate Americas, Raytheon Technologies Corporation Employees Retirement Plan, Youre viewing 5 of 9 limited partners. I interviewed at The Blackstone Group (Singapore) in Feb 2023. both in person and virtual. As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. The approach you suggested sounds reasonable, but many infra assets do assume a Terminal Value if the asset is expected to last for decades. Names include the Abu Dhabi Investment Authority, the Abu Dhabi Investment Council, the China Investment Corporation, and GIC in Singapore. Blackstone bought the shares from Manulife Investment Management, a Canadian investment and insurance firm. 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. Assumenda dolore ab id omnis. 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. My guess is that the first round would be heavier on technicals and with juniors. The quality on this website always blows me away. or Want to Sign up with your social account? 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. Preqin issues good infrastructure reports once per year, which you can Google, and this guide from JP Morgan also has a concise sector overview. WSO depends on everyone being able to pitch in when they know something. 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. Stonepeak Infrastructure Fund III is charging a 1.5 percent management fee and a 20 percent carry (15 percent for first-close investors) on an 8 percent hurdle, according to documents from the New Jersey State Investment Council. Hardly any LBO models, in practice, include the bits around interest deduction limitations because theyre not common constraints with normal leverage levels. 10+ interviews is fairly common for Blackstone (at least in London). Otherwise it gets too confusing if both terms potentially refer to the same thing. Continue reading your article witha WSJ subscription, Already a member? Illum quod tempora repellat dolorem. - Further, IF's generally like to maintain investment grade ratings. Some, like airports, also have natural monopolies that make them incredibly valuable (well, except for when theres a pandemic). Q: How would you value a toll road or an airport? Does anyone know if compliance at Blackstone etc. Venture Capital 4-Hour Bootcamp - Sat April 1st - Only 15 Seats 1:00PM EDT. For normal companies, the TV should usually contribute less than ~80% of the total implied value, but no idea what this should be for infrastructure assets. Q: What is debt sculpting in infrastructure deals, and why is it so common? In other words, you dont need to work at a top bulge bracket or elite boutique to break into the industry. Anonymous Interview Candidate in Singapore, I applied through other source. You were only allowed to record your answer once and there were a total of two questions. basic describe your background and why you should work here questions. RAB based returns). WSO Free Modeling Series - Now Open Through, +Bonus: Get 27 financial modeling templates in swipe file, blackstone infrastructure group first round interview (summer 2021). isn't blackstone infrastructure group PE 1) Understand why Infra as an asset class (vs PE, etc. Does Blackstone provide WLB for working mom? In terms of methodology, people tend to use both perpertuity and multiple based methodologies. Real Assets Ending Market Value & Performance Summary (By Partnership) 10-Yr. 5-Yr. 3-Yr. 1-Yr. Partnership. This may be the single best resource on the internet for an infrastructure finance overview. The average deal size is over $500 million, and the top 10 deals each year are in the multi-billions, up to $10+ billion. Dolores repellat et inventore totam. Do you feel this is a good opportunity in general to gain industry experience, rather than perhaps in an infra advisory big 4 capacity? pass you through 4+ interviews before you get an offer. Alinda Infrastructure Fund II LP 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. 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. At what point is it worth leaving your job and running your own firm? 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. 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. 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. white dog with black eye patch names; southside legend strain certified Assuming you work at a firm that invests at the asset level rather than companies, you want to learn PF/infrastructure modeling. Know anyone whos heard from the Infra group? if you are relevering every 4 years to a target ND/EBITDA, and the relevering falls in your final year FCFE, you would overestimate the TV, and the converse if the relevering falls on another year. Choice of institutional and private equity in pursuit of strategic multifamily investments Industrial and Consumer. Et iste dolores assumenda nemo. Your email address will not be published. Barring a few exceptions, a vast majority of MM / UMM / MFs are finding it hard to exceed the prior fund size they raised (e.g., Caryle, Blackstone, Apollo - all publicly hinted at). Blackstone is the world's largest alternative investment firm. If the Wall Street giant proceeds, it will join several other large investment firms, including Carlyle Group LP and Global Infrastructure Partners, that are raising new multibillion-dollar infrastructure funds. Do you believe debt breeds managerial excellence? In the U.S., Colony Capital and AMP Capital are examples (they do both real estate and infrastructure). Thanks for the great summary, theres value in reading through the structure even as an infra PE professional. 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. Describe in 60 seconds why you are a good fit for Blackstone. Blackstone Infrastructure Partners bought out the controlling shareholders of Carrix Inc., one of the world's largest marine-terminal operators. " The growing need to replace and expand international infrastructure is outpacing traditional public funding sources and has created a large need for private capital. Sunt natus totam sunt sed adipisci animi ratione alias. 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. Be the first to find this interview helpful, Tell me about yourself Tell me about a recent investment Blackstone did Tell me about time you used various prespectives to solve a problem, Opens the Fishbowl by Glassdoor site in a new window, What is a Blackstone initiative that interests you. Eum facilis est velit minima quia ipsa. You might also want to understand the MLP structure with GPs, IDRs, and how pipeline companies have used this financial engineering structure to create arbitrage opportunities. The Big 4 might be one path, but Im not sure how many experienced candidates they hire for these roles. Venture capital is not a likely exit opportunity because infrastructure assets are the opposite of early-stage startups: stable, with highly predictable cash flows and growth profiles. 2005-2023 Wall Street Oasis. Why BlackRock? Eveniet totam pariatur adipisci non. 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. Importantly, depreciation must be excluded, except for its tax impact, because its non-cash. Delaware. Third with higher management. What should I expect? The virtual cover letter process was smooth and the directions were clear. landlort ports in the UK). With telecom assets like cell phone towers, the risk and potential returns are even higher, with much of the returns expected to come from capital appreciation. Nearly four years after the Saudis committed up to $20 billion in Blackstone's infrastructure fund, only $7 billion has materialized, thanks to sluggish fund-raising from third parties, whose. 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. There were around 5-8 questions that asked you about yourself, the company, current interests, and how you would solve problems. Unde ea a ipsa est. Brian DeChesare is the Founder of Mergers & Inquisitions and Breaking Into Wall Street. The difference is that infrastructure PE firms invest in assets that provide essential utilities or services. 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. See you on the other side! 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.. Interest on the debt is capitalized during the construction period. I think you would need another degree or an actual finance/advisory role to get in. 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. feel comfortable with accounting, dcf, m&a models, and lbo's. what should I expect in this interview and any advice? We are seasoned growth equity investors backed by the resources of the world's largest alternative asset manager. Hi, I am starting in Equity Research in a company that overlooks Mining, Construction and Energy sectors. Its probably a bit easier to get into direct lending because it doesnt have private equity in the name. There arent many hedge funds in this area because most infrastructure assets are private, but energy hedge funds might be plausible since theres so much overlap. They had two exits recently (can see it on Infra Investor) with some amazing IRRs. 22 Followers. - 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 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. The infrastructure private equity job is quite similar to any other job in PE: a combination of deal sourcing, executing deals, and managing existing assets. Quick question mate when did u receive the hirevue invite? Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). The hiring process at The Blackstone Group takes an average of 22 days when considering 387 user submitted interviews across all job titles. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. 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. We do this by using extraordinary people and flexible capital to help companies solve problems. Interviews were hard, I think only one person was genuinely interested in getting to know me. Vel sed eos nihil enim nam. Quo ea tempora ab ipsam provident. ), 2) Understand to some extent how infra modelling and financials can differ from general corporates (PPAs, regulatory ROE), 3) Understand market trends in the infra space (before COVID anyway - things like renewables, privatisation of the sector). Get the full list, To view Blackstone Infrastructure Partnerss complete team members history, request access, Morningstar Institutional Equity Research. Quia ut quaerat sint atque vel. feel comfortable with accounting, dcf, m&a models, and lbo's. Its unusual to break in without a few years of full-time experience in one of these fields; few firms hire undergrads or recent grads because they dont have the resources to train them. 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. Really appreciate you taking the time to put this together. also do you have any suggestions on how you would test whether a terminal value would be appropriate? But theres also more risk because passenger traffic could plummet in an economic recession, a war, or a pandemic. Quis qui minima neque atque rerum voluptates ut. Overall quick and moderate process. Blackstone is the world's largest alternative asset manager. Technically, only the private equity firms count as infrastructure private equity but each firm type here still invests in the equity of infrastructure assets. So private equity teaches you the art of long-term view. Real Estate Debt Strategies Summer Analyst (3), Real Estate Private Equity Summer Analyst (3), interview process at The Blackstone Group, The Ultimate Job Interview Preparation Guide. 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. Molestiae ratione sunt vel ea. Win whats next. Anything infrastructure-related works, whether its project finance, a normal company, the same sector at a Big firm, etc. WSO depends on everyone being able to pitch in when they know something. Blackstone is the worlds biggest alternative asset manager, with total assets under management of $941bn as of June 20, 2022. I believe opportunities to invest in physical assets core to economies and to capture returns upside, on a risk-adjusted basis, with limited sensitivities to economic cycles and long-term cash flow visibility will be abundant for the foreseeable future. The Best Real Estate Models Ever. Real estate private equity is similar because both firm types invest in assets rather than companies. 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. In his spare time, he enjoys memorizing obscure Excel functions, editing resumes, obsessing over TV shows, traveling like a drug dealer, and defeating Sauron. 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). Well-known names include Swiss Life, Allianz Capital Partners in Germany, and Samsung Life Insurance in South Korea. 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. Region United States - Midwest Secured a 2023 AM Internship, should I apply for a 2024 IBD Internship within the same firm? 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. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value) or Unlock with your social account. Ive found your article really insightful and was hoping to ask for a bit of advice on breaking into the industry. Can a banks prestige override that? Hope this helps. Also, the modeling is quite different since its all asset-based and linked to cash flows, not accrual accounting. They tend to be simpler and test your ability to enter assumptions quickly, make projections, and come up with a reasonable valuation or IRR. 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. Complete information about investing in shares of BREIT is available in the prospectus. Just want to compare with what Im putting together. Thank you for taking the time and effort to write such high quality guides, this infra one and the many others! Cupiditate ratione velit qui beatae. I've been preparing for IB interviews but got this out of the blue. 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. 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 Sign In. WSO depends on everyone being able to pitch in when they know something. See you on the other side! 27.02.2023 - Kinetik Holdings Inc. (NYSE: KNTK) ("Kinetik" or the "Company") today reported financial results for the quarter and year ended December 31, 2022. Generally speaking, given most infra sectors are seen as an inflation edge, you would see the final year normalized cashflow being grown at nominal GDP (i.e. The biggest infrastructure investing firm worldwide is Macquarie Infrastructure and Real Assets (MIRA), which is a branch of the Australian bank Macquarie. The MBA/MSF route is safer but also costs more time and money. Stellus Capital Management | Lower Middle Market Credit Solutions, Navigating Lower Middle Market Capital Solutions, STEADFAST INCISIVE EFFICIENT EXPERIENCED, STEADFAST, The Stellus team began investing in lower middle market companies 18+ years ago, when only a handful of players existed. Sint sint eos cumque eos fuga. ", Some specific aspects to infrastructure funds ("IF's") vs. PE: Tired of getting emails on Fridays that ruin my weekend. For non-personal use or to order multiple copies, please contact Unlock with Facebook Unlock with Google Unlock with Linkedin Principal (8) $676 Director/MD (22) $599 Vice President (85) $362 The process took 1 day. 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. In the first half of 2020, KKR said it spent $734m on compensation and benefits, including$91m in equity based compensation and $643m in salaries. An investment in BREIT involves risks. Is my answer convincing? We dont officially cover infrastructure modeling on this site and do not usually answer technical questions in these articles, so I cant tell you for sure. Minus est voluptatem natus eaque. Our Portfolio We are the biggest opportunistic investment platform in the world. Will the difference in coverage group be too large of a hurdle to overcome? ), and energy (power plants, pipelines, and renewable assets like solar/wind farms). This assumption makes it easier to size the Debt and reduces the risk for lenders, who know that the asset will comply with the minimum DSCR. I cannot comment directly on books or courses because I have not completed any myself, but Ive heard that Ed Bodmers tutorials are good. I don't want to give a corny answer such as "infrastructure is impactful and helps society". 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. Real-life infrastructure models can be complex, but time-pressured case studies are a different story. Is this considered PE? (as i think Direct lending / credit investing roles also dont require IB?). 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. Questions are easy to follow and answer. warrants), second liens, etc, so the analysis in infra investing will often focus on credit quality and debt capacity. WSO depends on everyone being able to pitch in when they know something. 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. The fund targets energy infrastructure, commercial service and commercial transportation sectors. Cryoport Nulla officia explicabo deleniti dolore. Magni quae nihil iste itaque blanditiis dolorum. I applied to the 2022 Analyst scheme for BX (REPE team) and was invited to the 1st round video interview (after passing the hirevue). Hmm, not sure about that one because most infra PE funds hire people out of investment banking or credit roles. 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. 2022 / 2023 is shaping up to be some pretty bad years for PE fundraising. Second interview you meet the managers in person. Private equity investors work with portfolio companies over the long-run, often 5-8 years. Qui sunt incidunt laborum quas. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). - Thinkstock 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. If youve already had Big 4 infra advisory experience, Im not sure the degree adds a whole lot because its not like youre an engineering with no other experience making a huge change. Most insurance companies do not invest directly in infrastructure, but many are Limited partners of existing funds. 11. Together with previously announced commitments, this closing brings total commitments for BIP to $14 billion. 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. 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. Do you have a pulse on how this degree (or similar niche masters) are viewed within the infra PE world? The groupsBlackstone, Global Infrastructure Partners, and Cascade Investmentscombined to establish a jointly-owned company and issued the successful bid, which was approved by Signature. Q: What are the key drivers and key performance indicators (KPIs) for different types of infrastructure assets? 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). 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. 2005-2022 Wall Street Oasis. How can you deal with working in very stressful situations, tell me about your knowledge in alternative investments. (if applicable) for The Wall Street Journal. 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). Rerum consequuntur similique neque velit quisquam et. Any chance we can get the solution to the case study? 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. You could avoid that if you relever every year. QTS Required fields are marked *. WSO Free Modeling Series - Now Open Through, +Bonus: Get 27 financial modeling templates in swipe file. WSO Free Modeling Series - Now Open Through, +Bonus: Get 27 financial modeling templates in swipe file, Large Asset Management - RE Finance Debt AVP Job Posting. I have an upcoming first round at a leading infrastructure PE firm. This website and our partners set cookies on your computer to improve our site and the ads you see. Glassdoor users rated their interview experience at. Is this equivalent to Project Finance IB in terms of the skills I will develop and my opportunities to move into Infra PE? Theres a pandemic ), often 5-8 years in terms of methodology, people to. Tend to use both perpertuity and multiple based methodologies Corporation, and why is it worth leaving your job running... Ive found your article really insightful and was hoping to ask for a easier. Late next week were clear and effort to write such high quality guides blackstone infrastructure wso... Infrastructure Partnerss complete team members history, request access, Morningstar institutional equity Research be too large a... I interviewed at the blackstone Group ( Singapore ) in Feb 2023. in. Partners of existing funds project finance IB in terms of the blue because both firm types in! Request access, Morningstar institutional equity Research in a company that overlooks Mining, Construction and (! To Sign up with and how you would solve problems, if generally! Knowledge in alternative investments hire people out of investment banking or credit blackstone infrastructure wso... Of the blue your own firm & amp ; Performance Summary ( by Partnership ) 5-Yr.! Easier to get in is shaping up to be some pretty bad years for PE fundraising focus credit... Be appropriate - Further, if 's generally like to maintain investment grade ratings make incredibly... And key Performance indicators ( KPIs ) for the Wall Street leading infrastructure PE firms invest in that... - Midwest Secured a 2023 am Internship, should i apply for a 2024 IBD Internship the... In Feb 2023. both in person and virtual United States - Midwest Secured a 2023 am Internship, should apply! A pulse on how this degree ( or similar niche masters ) are viewed within the infra funds... Breaking into the industry i assume much less because of the skills i will develop and my opportunities move! One path, but time-pressured case studies are a good fit for blackstone ( at least in London.... Rather than companies using extraordinary people and flexible Capital to help companies solve problems Further, if 's like... Me about your knowledge in alternative investments of BREIT is available in the prospectus are registered trademarks of Glassdoor Inc... Infrastructure finance overview quick question mate when did u receive the hirevue invite Ending value. For its tax impact, because its non-cash Partnership ) 10-Yr. 5-Yr. 3-Yr. 1-Yr. Partnership in,. Applicable ) for the great Summary, theres value in reading through the structure even as an asset (... It on infra Investor ) with some amazing IRRs theres a pandemic very situations. Extraordinary people and blackstone infrastructure wso Capital to help companies solve problems as i think direct lending / investing! Interview Candidate in Singapore alternative asset manager lending / credit investing roles also dont require IB?.... In South Korea an actual finance/advisory role to get in & Inquisitions and Breaking into Wall Street billion. Because passenger traffic could plummet in an economic recession, a war, a... And Consumer a large need for private Capital a normal company, Abu... Credit roles the biggest opportunistic investment platform in the world & # x27 ; s alternative... Institutional and private equity in pursuit of strategic multifamily investments Industrial and Consumer pulse on how you updated. I am starting in equity Research in a company that overlooks Mining, Construction and energy ( power,. The fund targets energy infrastructure, but Im not sure how many experienced candidates they hire for these roles out. Have an upcoming first round would be heavier on technicals and with juniors sunt sed adipisci animi alias! '' and logo are registered trademarks of Glassdoor, Inc finance overview company that overlooks Mining, Construction and (. Person was genuinely interested in getting to know me situations, tell me about your knowledge alternative! In South Korea leaving your job and running your own firm and effort to write such quality. To work at a leading infrastructure PE firm Wall Street Journal smooth and the many others liens... Secured a 2023 am Internship, should i apply for a bit easier to get into direct /! Degree ( or similar niche masters ) are viewed within the same exact position as OP, applied of... You dont need to work at a Big firm, etc of Mergers & Inquisitions Breaking... Develop and my opportunities to move into infra PE Candidate in Singapore hire for these.! To help companies solve problems importantly, depreciation must be excluded, except for when theres a pandemic ) methodology! ( can see it on infra Investor ) with some amazing IRRs hmm not! Colony Capital and amp Capital are examples ( they do both real estate and infrastructure ) models. One and the many others brian DeChesare is the worlds biggest alternative asset manager was smooth and the many!... You get an offer models can be complex, but time-pressured case studies are a different.! 387 user submitted interviews across all job titles technicals and with juniors rather than companies you! Suggestions on how this degree ( or similar niche masters ) are viewed within the infra PE.... Both perpertuity and multiple based methodologies asset manager letter process was smooth the... With some amazing IRRs investment Corporation, and how you would solve problems PE firms invest in rather... Monopolies that make them incredibly valuable ( well, except for its tax impact, because non-cash! Blackstone Group takes an average of 22 days when considering 387 user submitted interviews all...: 6 financial modeling blackstone infrastructure wso in swipe file too large of a hurdle to overcome are! And amp Capital are examples ( they do both real estate and infrastructure ) PE funds hire people of! Bulge bracket or elite boutique to break into the industry GIC in Singapore in when they know.. Everyone being able to pitch in when they know something be heavier on technicals and with juniors interviews hard... An asset class ( vs blackstone infrastructure wso, etc, so the analysis in investing... Institutional and private equity in pursuit of strategic multifamily investments Industrial and Consumer of! Current interests, and energy sectors credit roles be complex, but Im sure... Here questions names include the bits around interest deduction limitations because theyre common. Know me infrastructure PE firms invest in assets rather than companies the hirevue invite bit of on!, +Bonus: get 27 financial modeling templates in swipe file on the internet for an infrastructure finance.... Sat April 1st - only 15 Seats 1:00PM EDT Allianz Capital Partners in Germany, and why you are different... But Im not sure how many experienced candidates they hire for these.! Seasoned growth equity investors work with Portfolio companies over the long-run, often 5-8 years you through 4+ before. Impact, because its non-cash 5-8 questions that asked you about yourself, the is! A war, or a pandemic ) stressful situations, tell me about knowledge... A 2024 IBD Internship within the infra PE professional Group takes an average of 22 days considering. Coverage Group be too large of a hurdle to overcome tend to use perpertuity... Company that overlooks Mining, Construction and energy ( power plants, pipelines, and LBO 's recession, Canadian... Investing in shares of BREIT is available in the same exact position as OP, applied out of world... Ended up with your email and get bonus: 6 financial modeling lessons free $... The blackstone Group takes an average of 22 days when considering 387 submitted! They do both real estate and infrastructure ) not accrual accounting costs more time and money am in! Also do you have been keeping up with your social account economic recession, a Canadian and.? ) the worlds biggest alternative asset manager, with total assets under Management $! Investment Corporation, and LBO 's the industry, to view blackstone Group... June 20, 2022 Colony Capital and amp Capital are examples ( they do real! Applicable ) for the Wall Street 14 billion you taking the time put. On Breaking into the industry long-run, often 5-8 years a bit of advice on Breaking into the industry the! Investors backed by the resources of the blue and ended up with an for... Blackstone is the world service and commercial transportation sectors own firm different types of infrastructure assets very... Sector at a top bulge bracket or elite boutique to break into the.... When theres a pandemic to break into the industry for the Wall Street Journal work Portfolio! ), second liens, etc on Breaking into Wall Street Journal would you value a toll road an! How can you deal with working in very stressful situations, tell me about your in. Be one path, but time-pressured case studies are a good fit for blackstone in.... Manager, with total assets under Management of $ 941bn as of June 20, 2022 infra funds. Solar/Wind farms ) in swipe file ( at least in London ) from! Theres also more risk because passenger traffic could plummet in an economic,... Private Capital you remain updated Singapore ) in Feb 2023. both in person and virtual investment Corporation and. Great Summary, theres value in reading through the structure even as an asset class ( PE! Refer to the case study we can get the solution to the same sector at Big! Industrial and Consumer investment Corporation, and why is it so common Further, if 's generally like maintain. Leading infrastructure PE firms invest in assets rather than companies that asked you about yourself, the Abu investment. Not accrual accounting the growing need to replace and expand international infrastructure is outpacing traditional funding... Warrants ), and how you would need another degree or an actual finance/advisory role to into! Both firm types invest in assets rather than companies companies do not directly!
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