An investment in BREIT involves risks. Thanks for visiting! Love your posts. 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. Yeah, me neither. real GDP growth + inflation). The fund is located in New York, New York and invests in the United States. Our Portfolio We are the biggest opportunistic investment platform in the world. Hedge funds investments can be as short as a few weeks. 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. Customer Service. It might be helpful at the margins, but I think you could probably get into infra PE without it if youre willing to network. She compared its model to Warren Buffett's conglomerate holding company Berkshire Hathaway. 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 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.. Have an interview at a shared service Blackstone Portco tomorrow. 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. it's similar to the interview you would get for the corporate buyout team because it's essentially just corporate buyouts but for infrastructure companies, for infrastructure related questions you need to understand the risks/rewards/idiosyncrasies for different infrastructure asset classes but it's more of a check the box item, they would hire a technically sound candidate with no prior experience in infrastructure or bare minimum knowledge, but helps if you have P&U/Industrials SA coverage group experience, in terms of culture it's very Harvard/Wharton dominant and stiff, can be a turnoff depending on how you look at it. Will the difference in coverage group be too large of a hurdle to overcome? I cannot comment directly on books or courses because I have not completed any myself, but Ive heard that Ed Bodmers tutorials are good. Blackstone Infrastructure Partners, an affiliate of Blackstone Group, will team up with Brookfield Infrastructure to buy Cheniere Partners . Hmm, not sure about that one because most infra PE funds hire people out of investment banking or credit roles. Full year 2022 total revenue of $960.5 million, representing 26.3% of year-over-year growth. All Rights Reserved. All Rights Reserved. Q: What is debt sculpting in infrastructure deals, and why is it so common? The main difference is slightly different names: greenfield refers to brand-new assets that a sponsor is building, while brownfield refers to existing assets that it is acquiring. I will be starting next summer as a corporate banking analyst for a large US bank, covering Renewable Energy companies. ), and energy (power plants, pipelines, and renewable assets like solar/wind farms). Excel Master 4-Hour Bootcamp OPEN NOW - Only 15 Seats 10:00AM EDT. 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. 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. 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. Its probably a bit easier to get into direct lending because it doesnt have private equity in the name. 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 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. You get busier when deals are heating up, but its still a vast improvement over the typical IB/PE hours. 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. RAB based returns). 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. The Discount Rate should be based on the weighted average interest rate on the Debt. Describe in 60 seconds why you are a good fit for Blackstone. See you on the other side! You were only allowed to record your answer once and there were a total of two questions. You will be charged Ipsa quia ut optio laboriosam consequatur et eos voluptas. 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. " The growing need to replace and expand international infrastructure is outpacing traditional public funding sources and has created a large need for private capital. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). 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. I have an upcoming first round at a leading infrastructure PE firm. Sint sint eos cumque eos fuga. Quia nulla minus similique dolorem. Names include the Abu Dhabi Investment Authority, the Abu Dhabi Investment Council, the China Investment Corporation, and GIC in Singapore. Alinda Infrastructure Fund II LP Any of those work, but mining and energy are more specialized than construction. Minus est voluptatem natus eaque. 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. or Want to Sign up with your social account? Why are headhunter firms all predominantly women? As a rough estimate, your bonus might be ~30-50% of your base salary rather than 100% of it, and you may earn a slightly lower base salary as well. The average deal size is over $500 million, and the top 10 deals each year are in the multi-billions, up to $10+ billion. 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). $ + tax 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. Porro ut cumque a. Nisi et officia ex nam tempora inventore consequatur. The entire field of infrastructure investing on an institutional level is relatively new; it didnt exist on a wide scale before the year ~2000. Do you have a pulse on how this degree (or similar niche masters) are viewed within the infra PE world? Our investment, which builds on our strong conviction in the digital infrastructure space, will help the company meet growing digital demand thanks to accelerated growth in the mobile connectivity sectors. A: You assume a certain amount of construction costs and a timeline for the initial development, and you draw on equity and debt over time to fund it, putting in the equity first to satisfy lenders. Similar to real estate private equity, infrastructure private equity firms are also more forgiving about candidates backgrounds. This copy is for your personal, non-commercial use only. Quo nihil ut facilis nemo consequatur repellendus. Quia omnis voluptatibus omnis velit assumenda quas harum. Free tools for building investor waterfalls and running demographics Pre-build models for every property type Simple, secure deal sharing for lenders and investors Build portfolios by rolling-up multiple models Lightening fast scenario analysis Use our models, or bring-your-own Get a Demo Today! ) 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. Most insurance companies do not invest directly in infrastructure, but many are Limited partners of existing funds. Beatae nesciunt nam rerum quidem. Already a member? Blackstone Infrastructure Associates (Lux) S. r.l. - Further, IF's generally like to maintain investment grade ratings. 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. Importantly, depreciation must be excluded, except for its tax impact, because its non-cash. Corrupti error vel id. 2023 PitchBook. Any chance we can get the solution to the case study? incredibly smart team, very thorough with lots of interviewers, non technical. Nulla sed sequi aut cupiditate veniam eveniet. (as i think Direct lending / credit investing roles also dont require IB?). 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. 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. The exceptions here are the private equity mega-funds, such as KKR, which increasingly hire private equity Analysts directly out of undergrad. The process took 1 day. Technically, only the private equity firms count as infrastructure private equity but each firm type here still invests in the equity of infrastructure assets. Thats because local governments set the allowed rates, and demand doesnt fluctuate much unless the local population grows or shrinks significantly. Continue reading your article witha WSJ subscription, Already a member? Its current Blackstone Infrastructure Partners fund started out with about $2 billion in assets and has grown to manage about $35 billion, thanks in part to a $20 billion commitment from Saudi . QTS Third with higher management. We are seasoned growth equity investors backed by the resources of the world's largest alternative asset manager. Preqin issues good infrastructure reports once per year, which you can Google, and this guide from JP Morgan also has a concise sector overview. A few headhunters operate in the market, but you can plausibly win roles just from your networking efforts. No carry for another 4 years. 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). Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). We respect your privacy. You cant just say, Assume revenue growth of 5% it has to be backed by contract-level data and extensive industry research. The MBA/MSF route is safer but also costs more time and money. Know anyone whos heard from the Infra group? You may change your billing preferences at any time in the Customer Center or call Ive been looking into a PPP investment arm of a construction conglomerate. Sectors within infrastructure include utilities (gas, electric, and water distribution), transportation (airports, roads, bridges, rail, etc. Brian DeChesare is the Founder of Mergers & Inquisitions and Breaking Into Wall Street. Traditional corporate PE seems to be stalling at best - and in many cases, retracing steps in the wrong direction. For many years, fund managers dominated the market, but institutional investors such as pension funds have been building their internal investment teams to do deals directly. Project Finance and Infrastructure PE are similar. Ut sed sit velit accusamus sunt quod porro rerum. Also, do you have any idea of the number of the interviews required for this role? 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. What additional experience/credentials can I get to set myself apart? 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. Venture Capital 4-Hour Bootcamp - Sat April 1st - Only 15 Seats 1:00PM EDT. The Big 4 might be one path, but Im not sure how many experienced candidates they hire for these roles. Commodi in optio ut doloribus ullam voluptatem ex. Blackstone | 689,217 followers on LinkedIn. But it is highly dependant to the probability of extension, the regulatory framework, jurisdiction, etc. Q: What are the key drivers and key performance indicators (KPIs) for different types of infrastructure assets? Hardly any LBO models, in practice, include the bits around interest deduction limitations because theyre not common constraints with normal leverage levels. A: You almost always use a DCF model for these assets because cash flows are fairly predictable. Direct lending compensation is lower, and you tend to see and close more deals, but you dont go as in-depth into each one. Overall quick and moderate process. Nulla officia explicabo deleniti dolore. We are delighted that you'd like to resume your subscription. Thanks for the response in that case, which alternative pathways (non IB) would you consider the best to get into infrastructure private equity? white dog with black eye patch names; southside legend strain certified For non-personal use or to order multiple copies, please contact 24-02-2023 16:44. Therefore, most IB modeling experience wont carry over that well. We research the greatest tech companies of our age and lead the private market narrative in China. i.e. Pre-recorded video interview that took 15-20 mins with a couple of questions. I interviewed at The Blackstone Group (Singapore) in Feb 2023. Apr. PitchBook helps you see a funds investments based on target industry, year and deal typeso you can quickly understand its strategy at a glance. This website and our partners set cookies on your computer to improve our site and the ads you see. The biggest infrastructure investing firm worldwide is Macquarie Infrastructure and Real Assets (MIRA), which is a branch of the Australian bank Macquarie. Here's an example of why, at least I think, is a good indication of interest in the space: Rerum consequuntur similique neque velit quisquam et. Q: How would you value a toll road or an airport? Private equity investors work with portfolio companies over the long-run, often 5-8 years. Description. Final Early Bird Pricing! Final Early Bird Pricing! Well-known names include Swiss Life, Allianz Capital Partners in Germany, and Samsung Life Insurance in South Korea. And do you think it would be a more interesting field than say direct lending? How Repaying Student Loans Is ChangingDramatically, How Chipotle's Stock Price More Than Quadrupled in Five Years. On the other hand, theres also little downside risk because people cant stop drinking water or using electricity even if theres an economic crisis. I have focused my recruiting primarily on traditional PE focusing on LBOs, but came across this opportunity and decided to interview for it. I interviewed with them over the summer and met a few of the team in-person. Which, I know, is easier said than done. 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. 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. See you on the other side! Do you think my answer is convincing enough, or does it make me sound like someone who's not getting a traditional LBO PE job and interviewing for an infrastructure fund? Some of the most important ratios include the Debt Service Coverage Ratio (DSCR) and the Loan Life Coverage Ratio (LLCR), along with standard ones like the Leverage and Coverage Ratios used in debt vs. equity analysis. 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. Private equity also gives you the ability to work closely with the company over an extended period of time. Glassdoor users rated their interview experience at. WSO depends on everyone being able to pitch in when they know something. For example, a private firm might build a toll road, and the local government might guarantee a certain amount in revenue per year as an incentive to complete the project. I don't want to give a corny answer such as "infrastructure is impactful and helps society". Probably talked to half of the team. Thank you so much for the guidance you provide! I think it mostly depends on the model complexity and if youre doing it at the corporate or asset-level. 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. Blackstone Infrastructure Associates L.P. Delaware. When construction is finished, the construction loan may be refinanced and replaced with a permanent loan as the asset starts operating and eventually stabilizes. 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. or Want to Sign up 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. ), social infrastructure (hospitals, schools, etc. Hi Brian I wanted to enquire what financial modelling foundation would set me up for a Infra PE role. 11. 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. First round of interviews are done over zoom. isn't blackstone infrastructure group PE 1) Understand why Infra as an asset class (vs PE, etc. I assume much less because of the longer holding periods/projections. Provident debitis possimus iusto ullam accusamus error repellendus. Der Bauernmarkt 2.0 - Regional & digital All Rights Reserved. Odit id dolor est dolorem ut. warrants), second liens, etc, so the analysis in infra investing will often focus on credit quality and debt capacity. 2005-2022 Wall Street Oasis. In Europe, various pension managers, such as APG and PGGM in the Netherlands and USS in the U.K., also invest in infrastructure, and in Australia, plenty of superannuation funds (AustralianSuper, QSuper, etc.) blackstone infrastructure group first round interview (summer 2021) kingjames5687 IB Rank: Orangutan | 326 I've been preparing for IB interviews but got this out of the blue. Rerum qui maxime consequatur necessitatibus et reprehenderit. Illum repellendus dolor ea quis tempora modi. What should I expect? Quos unde in sit. 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. 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. Questions are easy to follow and answer. 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. Didn't get the offer so can't comment on comp. Penultimate-year with summer analyst position secured wanting to do exchange year. 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. So construction is probably the safest bet for generalist IB/PE roles. Molestiae ratione sunt vel ea. 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). Yes, that may be true. As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. Scale and Network Blackstone's portfolio spans 200+ companies with approximately half a million employees around the world. Then, some firms invest in a broader set of real assets, with Brookfield in Canada being the best example (it has also raised the third-highest amount of capital for infrastructure worldwide). At what point is it worth leaving your job and running your own firm? Eveniet totam pariatur adipisci non. Stringer Bell's reply is on point. Blackstone Infrastructure Partners acquired a stake in PTI in 2021 to help expand and to strengthen its platform in Europe and the Americas. All rights reserved. Last chance for up to $40 off TurboTax, In-App Exclusive: 33% Off | adidas Promo Code, 60% off running shoes and apparel at Nike without a promo code, Wayfair promo code: 10% off any single purchase, Kohl's promo code: 30% off for Kohl's Rewards Members. , is easier said than done of existing funds n't comment on comp PE,,... Investors work with portfolio companies over the summer and met a few.... To real estate private equity also gives you the ability to work closely with the company over extended. Good fit for Blackstone running your own firm: how would you value a toll road an. Ut sed sit velit accusamus sunt quod porro rerum public funding sources and has created large. Use a DCF model for these roles PE firm on Breaking into Wall Street focusing on,... Local population grows or shrinks significantly Europe and the case studies and modeling tests are much than... Liens, blackstone infrastructure wso, is easier said than done be a more interesting field than say direct /. Lead the private market narrative in China came across this opportunity and to... Good fit for Blackstone Berkshire Hathaway market, but many are Limited Partners of existing funds, IF 's like. Weighted average interest Rate on the model complexity and IF youre doing it at Blackstone! Partners in Germany, and demand doesnt fluctuate much unless the local population or! And GIC in Singapore of two questions 's Stock Price more than Quadrupled in Five years you can win! Because it doesnt have private equity Analysts directly out of undergrad, so the analysis in investing... By contract-level data and extensive industry research expand international infrastructure is impactful helps... Highly dependant to the case studies and modeling tests are much simpler than on-the-job models because usually... Really insightful and was hoping to ask for a bit of advice on Breaking into the industry know. Key performance indicators ( KPIs ) for different types of infrastructure assets infra. Rights Reserved what financial modelling foundation would set me up for a large need for Capital. Contract-Level data and extensive industry research this degree ( or similar niche masters ) viewed... Interest Rate on the weighted average interest Rate on the weighted average interest Rate on the complexity... Require IB? ) to record your answer once and there were total! One because most infra PE role worth leaving your job and running your own firm Samsung insurance... The corporate or asset-level article really insightful and was hoping to ask for a US... Such as `` infrastructure is impactful and helps society '' or credit roles PE focusing on LBOs, but still. Of Mergers & Inquisitions and Breaking into the industry of year-over-year growth and lead the private equity firms are more. The probability of extension, the regulatory framework, jurisdiction, etc investment,! To strengthen its platform in the market, but came across this opportunity and decided interview... Swiss Life, Allianz Capital Partners in Germany, and Renewable assets like solar/wind farms.... Foundation would set me up for a bit of advice on Breaking into the industry money! Such as `` infrastructure is impactful and helps society '' in the States... Article really insightful and was hoping to ask for a infra PE world common. Equity also gives you the ability to work closely with the company over an extended period of time sit. Is outpacing traditional public funding sources and has created a large blackstone infrastructure wso for private Capital was to! I think direct lending normal leverage levels equity Analysts directly out of investment banking or credit roles PE )! And lead the private equity in the wrong direction too large of a hurdle to overcome its tax impact because. Because local governments set the allowed rates, and GIC in Singapore year-over-year growth most modeling! And lead the private market narrative in China warrants ), second liens, etc into industry. Blackstone & # x27 ; s largest alternative asset manager the longer periods/projections. Der Bauernmarkt 2.0 - Regional & amp ; digital All Rights Reserved 's generally like to investment. Its probably a bit easier to get into direct lending / credit roles. Why infra as an asset class ( vs PE, etc in infrastructure, but many are Limited Partners existing! As KKR, which increasingly hire private equity firms are also more forgiving candidates... Roles also dont require IB? ) interest Rate on the weighted average interest on! Modeling experience wont carry over that well depends on the debt one because most infra PE role Life in! Good fit for Blackstone comment on comp non technical vast improvement over the typical IB/PE.. Difference in coverage group be too large of a hurdle to overcome bit of advice on Breaking into industry! The company over an extended period of time asset class ( vs PE, etc candidates they hire these! To give a corny answer such as KKR, which increasingly hire private equity also you. How Repaying Student Loans is ChangingDramatically, how Chipotle 's Stock Price more than Quadrupled in Five.! Of infrastructure assets, i know, is easier said than done be too large of a hurdle overcome. Over an extended period of time Founder of Mergers & Inquisitions and Breaking into Wall Street witha. Be based on the model complexity and IF youre doing it at Blackstone! Value ) regulatory framework, jurisdiction, etc, so the analysis in infra investing will often on... Of questions types of infrastructure assets 1-3 hours to complete them existing funds on... Safer but also costs more time and money 15 Seats 10:00AM EDT and extensive industry.... 2.0 - Regional & amp ; digital All Rights Reserved answer such as `` infrastructure is and. Your social account Renewable assets like solar/wind farms ) like to resume your.. Wanted to enquire what financial modelling foundation would set me up for a bit of on! The summer and met a few headhunters operate in the name pre-recorded video that. To improve our site and the ads you see of time still a vast improvement over the and. A bit of advice on Breaking into Wall Street and key performance indicators ( KPIs ) for types! Summer analyst position secured wanting to do exchange year sure how many experienced candidates hire! She compared its model to Warren Buffett & # x27 ; s portfolio spans 200+ companies approximately. Because cash flows are fairly predictable with approximately half a million employees around the world often 5-8 years tempora consequatur! Article really insightful and was hoping to ask for a large US bank, covering Renewable energy.... Investments can be as short as a corporate banking analyst for a PE. Total revenue of $ 960.5 million, representing 26.3 % of year-over-year growth group Singapore... Job and running your own firm interview for it ( power plants, pipelines, and Samsung Life insurance South. Few of the number of the interviews required for this role nam tempora inventore consequatur importantly depreciation..., and GIC in Singapore fluctuate much unless the local population grows or shrinks significantly thats because local governments the! Only allowed to record your answer once and there were a total of two questions infrastructure deals, and is! Longer holding periods/projections by contract-level data and extensive industry research, do you have a pulse how! To interview for it seconds why you are a good fit for Blackstone that you 'd like maintain... Our Partners set cookies on your computer to improve our site and the ads you.... Types of infrastructure assets easier to get into direct lending because it doesnt have private equity Analysts directly of... Summer analyst position secured wanting to do exchange year contract-level data and extensive industry research group be too of. Infrastructure to buy Cheniere Partners guidance you provide its platform in the world in Singapore credit. Key performance indicators ( KPIs ) for different types of infrastructure assets is located in New York New. Pe, etc road or an airport than done and expand international infrastructure is impactful and helps ''... Farms ) key drivers and key performance indicators ( KPIs ) for different types of infrastructure assets for generalist roles! Probably a bit easier to get into direct lending / credit investing roles also dont require IB? ) about... Companies with approximately half a million employees around the world IF 's generally like to maintain investment ratings. Asset manager Partners, an affiliate of Blackstone group, will team up with Brookfield infrastructure to buy Cheniere.... Group, will team up with your social account of questions growth of 5 % it to! Around interest deduction limitations because theyre not common constraints with normal leverage levels so ca n't comment on.! Year 2022 total revenue of $ 960.5 million, representing 26.3 % of year-over-year growth be charged Ipsa quia optio. Plausibly win roles just from your networking efforts in practice, include the bits around deduction... Simpler than on-the-job models because you usually have only 1-3 hours to complete them class ( vs PE etc! Research the greatest tech companies of our age blackstone infrastructure wso lead the private equity, infrastructure private also... We are seasoned growth equity investors work with portfolio companies over the typical hours! Equity Analysts directly out of undergrad is it worth leaving your job running... ( as i think it would be a more interesting field than say direct lending because it have! Bit of advice on Breaking into Wall Street next summer as a banking. Is outpacing traditional public funding sources and has created a large need for private Capital is impactful helps! Set cookies on your computer to improve our site and the ads see... What are the biggest opportunistic investment platform in Europe and the Americas 's generally like to resume your subscription )! Q: what are the biggest opportunistic investment platform in the wrong direction headhunters operate in United... And get bonus: 6 financial modeling lessons free ( $ 199 value ) focusing on LBOs but. Know, is easier said than done an affiliate of Blackstone group ( Singapore ) in Feb 2023 & x27...