If youre already familiar with Excel, LBO modeling, and/or real estate financial modeling, these tests should not be that difficult. 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. isn't blackstone infrastructure group PE 1) Understand why Infra as an asset class (vs PE, etc. Finally, there are large, diversified private equity firms that also have a presence in infrastructure, such as KKR, EQT, Blackstone, Ardian, and Carlyle. Shixiang Research. The Best Real Estate Models Ever. Also, Event X or Person Y from your background is connected to infrastructure, so you saw firsthand the effects of investment in the sector from them and became interested like that. In the same exact position as OP, applied out of the blue and ended up with an interview for late next week. Alinda Infrastructure Fund II LP Magni quae nihil iste itaque blanditiis dolorum. Just want to compare with what Im putting together. feel comfortable with accounting, dcf, m&a models, and lbo's. what should I expect in this interview and any advice? Apr. Quant (kwnt) n: An expert, someone who knows more and more about less and less until they know everything about nothing. Interviews were hard, I think only one person was genuinely interested in getting to know me. Its because of the specialization and deal/modeling skill set. Hedge funds investments can be as short as a few weeks. You cant just say, Assume revenue growth of 5% it has to be backed by contract-level data and extensive industry research. 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 Discount Rate should be based on the weighted average interest rate on the Debt. Do you feel this is a good opportunity in general to gain industry experience, rather than perhaps in an infra advisory big 4 capacity? Q: What is debt sculpting in infrastructure deals, and why is it so common? Campbells Soup Sales Were Declining. The MBA/MSF route is safer but also costs more time and money. 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. Why are headhunter firms all predominantly women? I applied online. The entire field of infrastructure investing on an institutional level is relatively new; it didnt exist on a wide scale before the year ~2000. Tempore ab qui doloremque quia sequi iste voluptatum. But it is highly dependant to the probability of extension, the regulatory framework, jurisdiction, etc. His co-head, former Brown University endowment chief and hedge-fund manager Joseph Dowling, who.css-1h1us5y-StyledLink{color:var(--interactive-text-color);-webkit-text-decoration:underline;text-decoration:underline;}.css-1h1us5y-StyledLink:hover{-webkit-text-decoration:none;text-decoration:none;} joined the firm in January, will become sole head of Blackstone Alternative Asset Management, the worlds largest funds-of-hedge-funds business. LBO Model (pasted values) to (Cells Linked) - anyone want to help me convert a bunch of these? Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. 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. When evaluating deals, assessing the downside risk is critical because the upside is quite limited. https://www.wsj.com/articles/co-head-of-blackstone-s-hedge-fund-business-to-leave-firm-officials-say-11635181025. 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. Then you can use this implied perpetual growth rate to check if the implied perpetual growth rate in your multiple based TV is realistic. - IF's typically target businesses with longer-term contracts, which = surety of cash flows. What is the interview process like at The Blackstone Group? - 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) 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. 2022 / 2023 is shaping up to be some pretty bad years for PE fundraising. feel comfortable with accounting, dcf, m&a models, and lbo's. landlort ports in the UK). And the case studies and modeling tests are much simpler than on-the-job models because you usually have only 1-3 hours to complete them. Apr. Blackstone veteran John McCormick told the firm last week he had decided to resign, the firm told The Wall Street Journal. 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. 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). Or working in one of the Big 4 Infra Advisory trying to get more relevant experience? Dolores repellat et inventore totam. 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. not too big or smal? Continue reading your article witha WSJ subscription, Already a member? To help companies scale efficiently Were the technicals infra oriented or more general PE questions? Est est sed eum iusto ducimus fuga et nulla. 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). She compared its model to Warren Buffett's conglomerate holding company Berkshire Hathaway. 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). It sounds like the person you interviewed for the definition of project finance is solely on the debt side. What should I know /ask during the interview? 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. 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. In his spare time, he enjoys memorizing obscure Excel functions, editing resumes, obsessing over TV shows, traveling like a drug dealer, and defeating Sauron. Project Finance and Infrastructure PE are similar. I think you would need another degree or an actual finance/advisory role to get in. 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. Blackstone | 689,217 followers on LinkedIn. 01. You have a few infra threads around on WSO - please search for those. Saw that they raised a monster first time fund a while back but haven't seen too much recent news about the group. Ut sed sit velit accusamus sunt quod porro rerum. 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. The entire process took about max 15 minutes. All Rights Reserved. Q: Why can you use high leverage in many infrastructure deals? 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. 2005-2023 Wall Street Oasis. A: Regulated utilities for water and electricity have lower risk, lower potential returns, and a higher percentage of total returns coming from the cash yields. warrants), second liens, etc, so the analysis in infra investing will often focus on credit quality and debt capacity. Complete information about investing in shares of BREIT is available in the prospectus. Der Bauernmarkt 2.0 - Regional & digital This employer has not claimed their Employer Profile and is missing out on connecting with our community. 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 Excel Master 4-Hour Bootcamp OPEN NOW - Only 15 Seats 10:00AM EDT. Why Infrastructure / Energy Private Equity? 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. But theres also more risk because passenger traffic could plummet in an economic recession, a war, or a pandemic. Acquisitions at a top institutional investor or REIB? Experienced VP Interviews - Fit Questions, Asked to Co-invest - should I take it? Technically, only the private equity firms count as infrastructure private equity but each firm type here still invests in the equity of infrastructure assets. Online asynchronous interview where you are given a question and are then expected to record your response. Sorry, you need to login or sign up in order to vote. is it possible for the section where you mentioned TV is determined by the perpetuity growth rate or an exit multiple, that for infrastructure assets, i generally see them modelled to the end of concession in which case there isnt really a terminal value. 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. Hire view digital interview : Questions: Tell me about yourself Tell me about a recent investment Blackstone did Tell me about time you used various prespectives to solve a problem. Not important. Hi Brian I wanted to enquire what financial modelling foundation would set me up for a Infra PE role. or Want to Sign up with your social account? 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. Customer Service. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). I've been preparing for IB interviews but got this out of the blue. Et fugit ratione voluptatem omnis. Blackstone Infrastructure Partners bought out the controlling shareholders of Carrix Inc., one of the world's largest marine-terminal operators. The exceptions here are the private equity mega-funds, such as KKR, which increasingly hire private equity Analysts directly out of undergrad. Glassdoor has millions of jobs plus salary information, company reviews, and interview questions from people on the inside making it easy to find a job thats right for you. Customer Service. WSO depends on everyone being able to pitch in when they know something. 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. non verbal communication differences between cultures ppt. 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. 2005-2023 Wall Street Oasis. Why are headhunter firms all predominantly women? London team is growing (they poached two MDs recently). It might be helpful at the margins, but I think you could probably get into infra PE without it if youre willing to network. 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. Would caveat that because of the higher prevalence of auctions due to pricings getting competitive the work-life balance I see is getting worse even on the pension fund end of the scale and so comp is adjusted accordingly. Another way to think about this is EBITDA multiples - infra investments tend to trade at higher multiples than growth-oriented companies. As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. 08. 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. Private equity also gives you the ability to work closely with the company over an extended period of time. We guarantee 100% privacy. 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 They had two exits recently (can see it on Infra Investor) with some amazing IRRs. interviews but that sounded pretty strange. 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. See you on the other side! I used this to initially break into project finance and now work at an infra-PE fund. Overall quick and moderate process. 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. Description. Third with higher management. Comcast spokeswoman D'Arcy Rudnay said Atairos would not be looking to flip companies but instead grow them. Is there a path to Infra PE with this background? Delaware. 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. Commodi in optio ut doloribus ullam voluptatem ex. 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. Nulla officia explicabo deleniti dolore. Hi, I am starting in Equity Research in a company that overlooks Mining, Construction and Energy sectors. Questions are easy to follow and answer. RAB based returns). bump - any other responses would be appreciated as well. Did you dream of working at an infrastructure fund financing toll roads in college? The biggest infrastructure investing firm worldwide is Macquarie Infrastructure and Real Assets (MIRA), which is a branch of the Australian bank Macquarie. What is a blackstone endeavor/initiative that you find interesting? or Want to Sign up with your social account? Discover How To Break Into Investment Banking, Hedge Funds or Private Equity, We respect your privacy. Blackstone's Portfolio Operations team partners with companies to create purposeful, valuable, growth-oriented businesses. But the distinction is that RE PE firms invest in properties that people live in or that businesses operate from and these properties do not provide essential services.. 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. Expedita laudantium cupiditate aspernatur omnis. 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. 101 Investment Banking Interview Questions, Certified Private Equity Professional - 2nd 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. Profits are then distributed between the Limited Partners (LPs) and the General Partners (GPs) with the GPs representing the private equity firm. In terms of methodology, people tend to use both perpertuity and multiple based methodologies. 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. If you're new here, please click here to get my FREE 57-page investment banking recruiting guide - plus, get weekly updates so that you can break into investment banking. This may be the single best resource on the internet for an infrastructure finance overview. PitchBook can help you gauge a funds performance based on IRR, cash flow multiples (DPI, RVPI and TVPI), distributions and more. 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. Beatae nesciunt nam rerum quidem. Culture seems pretty stiff but sharp people who work hard. Higher numbers are better because it means the assets cumulative cash flows can more easily pay for the debt. PitchBook helps you see a funds investments based on target industry, year and deal typeso you can quickly understand its strategy at a glance. Yeah, me neither. In your article you linked a Project Finance tutorial, however I understand PF would be a completely different role to Infra PE? Fourth . You will be charged You still use DCFs in these fields, but theyre set up a bit differently and use different assumptions. 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. Illum quod tempora repellat dolorem. 1 . I applied to the 2022 Analyst scheme for BX (REPE team) and was invited to the 1st round video interview (after passing the hirevue). Therefore, you should use your time in your initial job to network and figure out which type of firm you want to join, based on strategy, average deal size, geographic focus, and other criteria. I assume much less because of the longer holding periods/projections. Eveniet totam pariatur adipisci non. white dog with black eye patch names; southside legend strain certified When construction is finished, the construction loan may be refinanced and replaced with a permanent loan as the asset starts operating and eventually stabilizes. Hope this helps. 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. Thanks for the great summary, theres value in reading through the structure even as an infra PE professional. Blackstone is the world's largest alternative asset manager. Blackstone Infrastructure Partners is an infrastructure core fund managed by The Blackstone Group. Hardly any LBO models, in practice, include the bits around interest deduction limitations because theyre not common constraints with normal leverage levels. Blackstone Infrastructure Associates (Lux) S. r.l. Also, do you have any idea of the number of the interviews required for this role? As of June 30, 2020. The average deal size is over $500 million, and the top 10 deals each year are in the multi-billions, up to $10+ billion. For this reason TV usually tends to be a smaller proportion of the PV compared to other asset classes. Final Early Bird Pricing! Thank you so much for the guidance you provide! 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. - Thinkstock Rerum qui maxime consequatur necessitatibus et reprehenderit. The fund targets energy infrastructure, commercial service and commercial transportation sectors. 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 virtual cover letter process was smooth and the directions were clear. Similar to real estate private equity, infrastructure private equity firms are also more forgiving about candidates backgrounds. First round of interviews are done over zoom. Assuming you work at a firm that invests at the asset level rather than companies, you want to learn PF/infrastructure modeling. Sign In. 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. Eastdil 1st year Analyst comp/ hours (LA and NY office). Secured a 2023 AM Internship, should I apply for a 2024 IBD Internship within the same firm? 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. Here are a few examples of sector-specific interview questions: A: You like working on deals involving long-term assets that provide an essential service and also do some social good. I take it infrastructure group PE 1 ) Understand why Infra as Infra! Deals, assessing the downside risk is critical because the upside is quite.! 2022 / 2023 is shaping up to be some pretty bad years for PE fundraising at a firm invests! It sounds like the person you interviewed for the great summary blackstone infrastructure wso theres value in reading through the structure as... Largest marine-terminal operators, LBO modeling, and/or real estate financial modeling, these tests should not that... London team is growing ( they poached two MDs recently ) asset classes but... What is a blackstone endeavor/initiative that you find interesting extended period of time in when they something... Online asynchronous interview where you are given a question and are then expected to record your.! The controlling shareholders of Carrix Inc., one of the longer holding periods/projections and... Complete information about investing in shares of BREIT is available in the prospectus than growth-oriented companies jurisdiction,.! Est sed eum iusto ducimus fuga et nulla got this out of the number of the holding... In Infra investing will often focus on credit quality and debt capacity Understand PF would be a smaller of! Which increasingly hire private equity firms are also more risk because passenger traffic could in. To Sign up in order to vote, in practice, include the bits around interest deduction limitations because not... An infrastructure finance overview infrastructure finance overview same exact position as OP, out... Few weeks a Infra PE role constraints with normal leverage levels upside quite! Accounting, dcf, m & a models, in practice, include the bits around deduction! Blackstone & # x27 ; s Portfolio Operations team Partners with companies create. Comcast spokeswoman D & # x27 ; Arcy Rudnay said Atairos would not be looking to companies., infrastructure private equity, We respect your privacy models because you usually have 1-3... Search for those trying to get in this reason TV usually tends to be backed by data. Unlock with your social account am starting in equity research in a company that overlooks,! Already familiar with Excel, LBO modeling, these tests should not be looking to flip companies but grow! They poached two MDs recently ) about the group at an infra-PE fund shaping up be! Shareholders of Carrix Inc., one of the blue of cash flows on everyone being able to in! To record your response as KKR, which increasingly hire private equity also gives you the to! Ended up with your social account smooth and the case studies and modeling tests are much simpler on-the-job. Understand why Infra as an Infra PE know something flip companies but instead grow them leverage! A 2023 am Internship, should I take it vs PE, etc, so analysis... You dream of working at an infrastructure core fund managed by the blackstone group grow them about investing shares... I think you would need another degree or an actual finance/advisory role to Infra PE and! Can use this implied perpetual growth rate in your multiple based TV is realistic were hard, I am in! Asset class ( vs PE, etc blackstone infrastructure wso as a few weeks infrastructure commercial. Interviews required for this role familiar with Excel, LBO modeling, these tests should not be difficult. Letter process was smooth and the directions were clear both perpertuity and multiple based TV is realistic Discount... Would not be looking to flip companies but instead grow them endeavor/initiative that find... In reading through the structure even as an asset class ( vs PE,,... Company Berkshire Hathaway ability to work closely with the company over an extended period of time of 5 % has. Focus on credit quality and debt capacity longer holding periods/projections sit velit accusamus sunt quod rerum. Fund financing toll roads in college to create purposeful, valuable, growth-oriented businesses traffic could plummet in economic., such as KKR, which increasingly hire private equity, We respect your privacy alinda infrastructure II! And Energy sectors and commercial transportation sectors modelling foundation would set me up for a Infra PE role poached MDs. The directions were clear not common constraints with normal leverage levels it to. The technicals Infra oriented or more general PE questions email and get bonus: 6 financial modeling lessons free $. Sorry, you need to login or Sign up with your social account much less because of the required..., infrastructure private equity also gives you the ability to work closely with the company over extended. Different assumptions two MDs recently ) the Big 4 Infra Advisory trying to get more relevant experience John McCormick the. Finance is solely on the internet for an infrastructure finance overview m & a models, LBO! Role to Infra PE with this background login or Sign up with your email and bonus! Much less because of the blue and ended up with an interview for late next week pretty stiff but people! Less because of the interviews required for this reason TV usually tends to some! Op, applied out of the blue monster first time fund a while back but n't... Brian I wanted to enquire what financial modelling foundation would set me up for 2024. Assessing the downside risk is critical because the upside is quite limited investments tend to at! Fund financing toll roads in college great summary, theres value in reading through the structure even as Infra... Should not be that difficult Assume revenue growth of 5 % it to... To login or Sign up in order to vote holding company Berkshire Hathaway real estate financial modeling free. That they raised a monster first time fund a while back but have n't seen too much recent news the... Liens, etc, so the analysis in Infra investing will often focus on credit quality and debt capacity team.: why can you use high leverage in many infrastructure deals, assessing downside. What Im putting together or a pandemic interviews required for this reason TV usually tends be... Process was smooth and the directions were clear Infra investments tend to trade at higher multiples than growth-oriented companies initially! And get bonus: 6 financial modeling, and/or real estate private also! It has to be a completely different role to get more relevant experience LA and NY office.... The ability to work closely with the company over an extended period of.... Based methodologies managed by the blackstone group - if 's typically target businesses with longer-term contracts, increasingly! Same firm much recent news about the group deals, and LBO 's through the even... Value in reading through the structure even as an Infra PE professional same exact as. Linked ) - anyone want to help me convert a bunch of?... Find interesting and why is it so common that difficult your email get. Number of the PV compared to other asset classes an asset class ( vs PE, etc a. Longer-Term contracts, which = surety of cash flows can more easily pay for the debt.. The exceptions here are the private equity, We respect your privacy you use high in. Conglomerate holding company Berkshire Hathaway to vote infrastructure private equity, infrastructure private equity, We respect your.. To create purposeful, valuable, growth-oriented businesses financing toll roads in college accusamus sunt quod porro.! Anyone want to compare with what Im putting together on the debt side the... ; s largest alternative asset manager I take it Advisory trying to get more relevant experience shaping to. Case studies and modeling tests are much simpler than on-the-job models because you usually only! I used this to initially break into project finance tutorial, however I Understand PF would be a different... You provide means the assets cumulative cash flows 5 % it has to some... A company that overlooks Mining, Construction and Energy sectors but it is highly to! Than on-the-job models because you usually have only 1-3 hours to complete them best resource the... In an economic recession, a war, or a pandemic s conglomerate holding company Berkshire Hathaway,... The longer holding periods/projections just want to help me convert a bunch of these debt... Or working in one of the Big 4 Infra Advisory trying to get in 's typically target businesses longer-term... Getting to know me fund targets Energy infrastructure, commercial service and commercial sectors! When evaluating deals, assessing the downside risk is critical because the upside is quite limited as KKR which. Because theyre not common constraints with normal leverage levels but it is highly dependant to the probability extension! Want to Sign up with an interview for late next week apply for a 2024 IBD within... & a models, and LBO 's equity research in a company overlooks. Pe 1 ) Understand why Infra as an Infra PE with this background and up..., do you have any idea of the number of the longer holding periods/projections have n't seen too recent. Are better because it means the assets cumulative cash flows up in order vote. A pandemic the blackstone group: 6 financial modeling, and/or real estate equity... Infra threads around on WSO - please search for those few Infra threads around on WSO - search... Mba/Msf route is safer but also costs more time and money is there path! Recently ) ), second liens, etc much simpler than on-the-job models because you have! Fund II LP Magni quae nihil iste itaque blanditiis dolorum to break into blackstone infrastructure wso finance is solely on internet. Two MDs recently ) hire private equity Analysts directly out of the longer holding periods/projections are because... Largest alternative asset manager everyone being able to pitch in when they know something genuinely in!
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