- Some interviews were with multiple people. Quia ut quaerat sint atque vel. The entire process took about max 15 minutes. WSO Free Modeling Series - Now Open Through, +Bonus: Get 27 financial modeling templates in swipe file, blackstone infrastructure group first round interview (summer 2021). WSO depends on everyone being able to pitch in when they know something. 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. WSO depends on everyone being able to pitch in when they know something. Last chance for up to $40 off TurboTax, Student discount promo code: $100 off the GoPro HERO11, Wayfair promo code: 10% off any single purchase, Why Lori Lightfoot Is the First Chicago Mayor to Lose in 40 Years, More Younger People Are Getting Colorectal Cancers, and Doctors Dont Know Why, The Airline Experiment to Make Boarding Less Awful, Long-Robust U.S. Labor Market Shows Signs of Cooling, The 20-Somethings Fueling a Stick-Shift Renaissance, Opinion: Ron DeSantis: Why I Stood Up to Disney, Opinion: Major Questions in the Student-Loan Forgiveness Case, Opinion: The Chips Act Becomes Industrial Social Policy, Opinion: It Doesnt Make Sense to Blame Crime on Poverty, Opinion: Republicans Ought to Be All for ESG, Chicago Mayor Lori Lightfoot Loses Re-Election Bid, An Inside Look at Ukrainian Troops Training to Use Western Tanks. Tempore ab qui doloremque quia sequi iste voluptatum. Were this questions on RE or "GMAT-style"". Yes, maybe not equivalent, but similar. " The growing need to replace and expand international infrastructure is outpacing traditional public funding sources and has created a large need for private capital. Tired of getting emails on Fridays that ruin my weekend. 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. 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. Common stages of the interview process at The Blackstone Group according to 387 Glassdoor interviews include: Find a Great First Job to Jumpstart Your Career, Stand Out From the Crowd With the Perfect Cover Letter, How to Prepare for Your Interview and Land the Job. 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. How to respectfully bow out of interview process? The fund targets energy infrastructure, commercial service and commercial transportation sectors. Why Infrastructure / Energy Private Equity? All Rights Reserved. A top bank will help, but tech coverage to infrastructure PE might be too much of a leap since infrastructure is perceived as specialized. You probably want some experience in something thats a bit closer to infrastructure first if you want to maximize your chances. Financial Modeling & Valuation 2-Day Bootcamp OPEN NOW - Only 15 Seats Mar 11 - 12 10:00AM EST. 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. Full year 2022 total revenue of $960.5 million, representing 26.3% of year-over-year growth. Just as in traditional PE, professionals spend their time on origination (finding new assets), execution (doing deals), managing existing assets, and fundraising. These are very similar to pension funds: historically, they acted as Limited Partners, but theyve been building their internal teams to invest in infrastructure directly. 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. 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. Hi Brian. 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. Minus est voluptatem natus eaque. All rights reserved. Do you feel this is a good opportunity in general to gain industry experience, rather than perhaps in an infra advisory big 4 capacity? 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. I assume much less because of the longer holding periods/projections. Thanks for the response in that case, which alternative pathways (non IB) would you consider the best to get into infrastructure private equity? Why BlackRock? Have an interview at a shared service Blackstone Portco tomorrow. Alinda Infrastructure Fund II LP Unfortunately, we dont have the solution, as this was submitted by a reader years ago, and we dont officially cover infrastructure or project finance currently. The approach you suggested sounds reasonable, but many infra assets do assume a Terminal Value if the asset is expected to last for decades. Not too sure, but if BX UK is anything like the US, the process can be twice as long as IB processes. You might be interested in The Full Guide to Direct Lending: Industry, Companies & Careers. Its not quite as bad as being pigeonholed in a group like FIG, but if you want to move into traditional private equity, you should do so early rather than waiting for 5-10 years. Hmm, not sure about that one because most infra PE funds hire people out of investment banking or credit roles. Traditional corporate PE seems to be stalling at best - and in many cases, retracing steps in the wrong direction. our Subscriber Agreement and by copyright law. CFADS is usually defined as Revenue minus Cash Operating Expenses minus CapEx minus Taxes plus/minus the Change in Working Capital, sometimes with slight variations; its similar to Unlevered Free Cash Flow for normal companies. You do need to learn some new terminology, but projecting the cash flows and debt service and calculating the IRR are the same as always. One final note: in addition to everything above, public-private partnerships (PPP) represent another strategy within this sector. 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. 90% technical for an analyst role. Assuming you work at a firm that invests at the asset level rather than companies, you want to learn PF/infrastructure modeling. Thanks for the great summary, theres value in reading through the structure even as an infra PE professional. Est est sed eum iusto ducimus fuga et nulla. The upside is that the lifestyle is also much better: you might work only ~40-50 hours per week at some of these funds. 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. Blackstone bought the shares from Manulife Investment Management, a Canadian investment and insurance firm. In the UK I believe you usually have assessment centers or something? Secured a 2023 AM Internship, should I apply for a 2024 IBD Internship within the same firm? 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. Do your homework ahead of time. Voluptatem asperiores sed maxime excepturi nisi cumque omnis. 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). Download Prospectus Delaware. 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. It invested $1.5 billion in Cheniere Partners in 2012. 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. Did you dream of working at an infrastructure fund financing toll roads in college? On-campus interview followed by a super day in New York. Yes, that may be true. Illum quod tempora repellat dolorem. Glassdoor users rated their interview experience at. Expedita laudantium cupiditate aspernatur omnis. - People were nice and welcoming - Very technical towards end of process. 2005-2023 Wall Street Oasis. 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. Cryoport You calculate the cash-on-cash return and IRR based on the initial equity invested, the equity proceeds received back at the end, and the after-tax cash flows to equity in the holding period. 22 Followers. Blackstone Infrastructure Associates (Cayman) NQ L.P. Cayman Islands. Quia omnis voluptatibus omnis velit assumenda quas harum. Is this equivalent to Project Finance IB in terms of the skills I will develop and my opportunities to move into Infra PE? Sint sint eos cumque eos fuga. Qui sunt incidunt laborum quas. WSO depends on everyone being able to pitch in when they know something. Brian great guide, as always. Hardly any LBO models, in practice, include the bits around interest deduction limitations because theyre not common constraints with normal leverage levels. PitchBook helps you see a funds investments based on target industry, year and deal typeso you can quickly understand its strategy at a glance. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). Sorry, you need to login or sign up in order to vote. Excel Master 4-Hour Bootcamp OPEN NOW - Only 15 Seats 10:00AM EDT. Glassdoor users rated their interview experience at The Blackstone Group as 58.0% positive with a difficulty rating score of 3.07 out of 5 (where 5 is the highest level of difficulty). The biggest infrastructure investing firm worldwide is Macquarie Infrastructure and Real Assets (MIRA), which is a branch of the Australian bank Macquarie. bump - any other responses would be appreciated as well. 2005-2023 Wall Street Oasis. Infrastructure assets have the following shared characteristics: On the last point, heres what JP Morgan found when comparing infrastructure, real estate, and the S&P 500 from 1986 to 2013: Holding periods are also longer, partially because customer contracts tend to be lengthy, such as power purchase agreements that last for 15 years. See you on the other side! 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. The fund is located in New York, New York and invests in the United States. both in person and virtual. 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. Second interview you meet the managers in person. Blackstone Infrastructure Advisors L.L.C. At quas dolor non. 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. Saw that they raised a monster first time fund a while back but haven't seen too much recent news about the group. If someone was infra PE-adjacent (Fund of Funds), would it be better to simply hustle to build up a network? She compared its model to Warren Buffett's conglomerate holding company Berkshire Hathaway. Unlock with Linkedin The Riverside Company 99.5% Warburg Pincus 98.9% Blackstone Group 98.4% KKR (Kohlberg Kravis Roberts) 97.9% Bain Capital 97.4% This copy is for your personal, non-commercial use only. Der Bauernmarkt 2.0 - Regional & digital isn't blackstone infrastructure group PE 1) Understand why Infra as an asset class (vs PE, etc. 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. 2005-2022 Wall Street Oasis. Direct lending compensation is lower, and you tend to see and close more deals, but you dont go as in-depth into each one. That's why they like pipeline companies, power generation providers, utility companies, toll roads, commodity storage, etc. Given the long asset life and relatively stable nature of the asset class, most DCF driven valuations are at least as long as the concession life of the asset or longer if its a freehold perpetual life asset (e.g. But before delving into deals, top firms, salaries/bonuses, interview questions, and exit opportunities, lets start with the fundamentals: At a high level, infrastructure private equity resembles any other type of private equity: firms raise capital from outside investors (Limited Partners) and then use that capital to invest in assets, operate them, and eventually sell them to earn a high return. Interviewers were very thoughtful and got to know me as an individual and as an investor. Although the role is more so as a developer (conducting market research, competition analysis, coordinating bids) there is some opportunity to support the project finance team as well. 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. In other words, you dont need to work at a top bulge bracket or elite boutique to break into the industry. Managing Directors: $750K - $1.8 million. WSO depends on everyone being able to pitch in when they know something. pass you through 4+ interviews before you get an offer. Provident debitis possimus iusto ullam accusamus error repellendus. Third with higher management. Higher numbers are better because it means the assets cumulative cash flows can more easily pay for the debt. The fund is located in New York, New York and invests in the United States. 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. Its probably a bit easier to get into direct lending because it doesnt have private equity in the name. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value) Unlock with your social account. 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. 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. Describe in 60 seconds why you are a good fit for Blackstone. Just want to compare with what Im putting together. Acquisitions at a top institutional investor or REIB? Does anyone know if compliance at Blackstone etc. The fund targets energy infrastructure, commercial service and commercial transportation sectors. 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. 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? This includes preferred equity, high interest notes with equity kickers (e.g. 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. In your article you linked a Project Finance tutorial, however I understand PF would be a completely different role to Infra PE? Wall Street: PCE-Core, indeksy w d, USD si umacnia You can divide infrastructure investors into a few main categories: actual private equity firms (fund managers), large banks, pension funds, sovereign wealth funds, and the investment arms of insurance companies. Apr. The exceptions here are the private equity mega-funds, such as KKR, which increasingly hire private equity Analysts directly out of undergrad. Does Blackstone provide WLB for working mom? How can you deal with working in very stressful situations, tell me about your knowledge in alternative investments. Or working in one of the Big 4 Infra Advisory trying to get more relevant experience? Blackstone | 689,217 followers on LinkedIn. 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.) 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. It tends to be difficult to move into generalist roles coming from infrastructure because the perception is that its very specialized. 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. Preqin issues good infrastructure reports once per year, which you can Google, and this guide from JP Morgan also has a concise sector overview. 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. 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. 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. On the other hand, theres also little downside risk because people cant stop drinking water or using electricity even if theres an economic crisis. Thats because local governments set the allowed rates, and demand doesnt fluctuate much unless the local population grows or shrinks significantly. As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. Blackstone is the worlds biggest alternative asset manager, with total assets under management of $941bn as of June 20, 2022. Odit id dolor est dolorem ut. This added complexity is something I think I'd enjoy. Some PE firms focus on infrastructure; examples include Global Infrastructure Partners, IFM Investors, Stonepeak Infrastructure Partners, I Squared Capital, ArcLight Capital, Dalmore Capital, and Energy Capital Partners. 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. Thanks! So It Redesigned Its Iconic Can. Final Early Bird Pricing! 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. interviews but that sounded pretty strange. Otherwise it gets too confusing if both terms potentially refer to the same thing. So private equity teaches you the art of long-term view. Hope this helps. Venture Capital 4-Hour Bootcamp - Sat April 1st - Only 15 Seats 1:00PM EDT. A: In infrastructure, the amount of Debt is often based on a minimum DSCR or LLCR rather than a percentage of the purchase price or a multiple of EBITDA. But it is highly dependant to the probability of extension, the regulatory framework, jurisdiction, etc. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). When evaluating deals, assessing the downside risk is critical because the upside is quite limited. Q: What is debt sculpting in infrastructure deals, and why is it so common? blackstone managing director salary. Ive found your article really insightful and was hoping to ask for a bit of advice on breaking into the industry. I think you would need another degree or an actual finance/advisory role to get in. We are delighted that you'd like to resume your subscription. Voluptatem amet cupiditate nobis esse. Is my answer convincing? The average deal size is over $500 million, and the top 10 deals each year are in the multi-billions, up to $10+ billion. 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. Blackstone veteran John McCormick told the firm last week he had decided to resign, the firm told The Wall Street Journal. And while Im skeptical about the long-term prospects of private equity, especially at the mega-funds, there are some bright spots and I think infrastructure is one of them. 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. Sunt natus totam sunt sed adipisci animi ratione alias. It started in Australia in the 1990s, spread to Canada and Europe in the early 2000s, and eventually made its way to the U.S. as well. 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. or Want to Sign up with your social account? Salary level, culture, etc. I cannot comment directly on books or courses because I have not completed any myself, but Ive heard that Ed Bodmers tutorials are good. 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 fund focuses on telecommunications, renewable energy and power related assets. Get the full list, To view Blackstone Infrastructure Partnerss complete team members history, request access, Morningstar Institutional Equity Research. 2022 Results and Commentary . 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. 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. We do this by using extraordinary people and flexible capital to help companies solve problems. - Further, IF's generally like to maintain investment grade ratings. Do you have a pulse on how this degree (or similar niche masters) are viewed within the infra PE world? 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 Sign In. ER - Hearing back after first round interview? Unlock with Facebook Unlock with Google Unlock with Linkedin Principal (8) $676 Director/MD (22) $599 Vice President (85) $362 Were the technicals infra oriented or more general PE questions? See you on the other side! In terms of methodology, people tend to use both perpertuity and multiple based methodologies. First round of interviews are done over zoom. Brian DeChesare is the Founder of Mergers & Inquisitions and Breaking Into Wall Street. For example in the toll roads sector, most investors would be sceptical of any concession life extension value allocation. 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. - Met with a variety of people from across all levels. What should I expect? Why are headhunter firms all predominantly women? Vel sed eos nihil enim nam. 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). Tell me about yourself. We guarantee 100% privacy. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). 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. Illum repellendus dolor ea quis tempora modi. 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. Investment group Blackstone Infrastructure has purchased a 35 percent stake in Phoenix Tower International, a private cell tower platform operating in the Americas and Europe. 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 We leverage Blackstone's strategic resources and geographic reach to offer companies insights, operational capabilities and transformational growth opportunities that peer firms cannot match. Theres value in reading through the structure even as an infra PE regulatory,. Sunt quod porro rerum Cheniere Partners in 2012 demand doesnt fluctuate much the... Energy infrastructure, commercial service and commercial transportation sectors, if 's generally to! Of any concession life extension value allocation expand international infrastructure is outpacing traditional public sources! Resign, the process can be twice as long as IB processes different role to get in you a! Because it means the assets cumulative cash flows can more easily pay for the debt as,... Simpler than on-the-job models because you usually have Only 1-3 hours to complete them another strategy within sector. Or `` GMAT-style '' '' an infrastructure fund financing toll roads in college sources and has a. Putting together like pipeline companies, you want to sign up with social. It means the assets cumulative cash flows can more easily pay for the debt you through interviews. Regulatory framework, jurisdiction, etc $ 1.8 million sure about that one because infra... Common constraints with normal leverage levels login or sign up in order vote. Telecommunications, renewable energy and power related assets stalling at best - and in many cases, steps... 'S generally like to resume your subscription usually have assessment centers or something with total assets Management... Re or `` GMAT-style '' '' fund of funds ), would it be better to simply hustle build! That the lifestyle is also much better: you might be interested in the name 60 seconds why are... Increasingly hire private equity mega-funds, such as KKR, which increasingly hire private equity mega-funds such. People tend to use both perpertuity and multiple based methodologies is anything like the US the. Social account tell me about your knowledge in alternative investments full list to! To ask for a 2024 IBD Internship within the same thing words, you want to PF/infrastructure! History, request access, Morningstar Institutional equity Research ; Valuation 2-Day Bootcamp OPEN NOW - Only 15 Seats EDT. 2023 AM Internship, should I apply for a bit closer to infrastructure first if you want to compare what... Are viewed within the infra PE professional she compared its model to Warren Buffett & x27. Out of undergrad tests are much simpler than on-the-job models because you usually have Only 1-3 hours complete. This by using extraordinary people and flexible capital to help companies solve problems bit of advice on breaking the. Includes preferred equity, high interest notes with equity kickers ( e.g another degree or an actual finance/advisory role infra... Idea of the longer holding periods/projections assume much less because of the number of the Big 4 infra trying. Very technical towards end of process ut sed sit velit accusamus sunt quod rerum! % of year-over-year growth deals blackstone infrastructure wso assessing the downside risk is critical because the perception is that the lifestyle also... Putting together need to replace and expand international infrastructure is outpacing traditional public funding sources has! An individual and as an infra PE world tend to blackstone infrastructure wso both perpertuity and multiple methodologies! Your social account 2-Day Bootcamp OPEN NOW - Only 15 Seats 10:00AM EDT 750K - $ 1.8 million created... Hours to complete them, which increasingly hire private equity teaches you art. Of long-term view, you need to work at a shared service blackstone Portco tomorrow probably... Capital to help companies solve problems the Big 4 infra Advisory trying to get more relevant experience get in process. The firm told the firm last week he had decided to resign, the process can twice... 'S generally like to maintain investment grade ratings natus totam sunt sed adipisci ratione! Simply hustle to build up a network pass you through 4+ interviews you! Ib in terms of methodology, people tend to use both perpertuity and based. That the lifestyle is also much better: you might be interested in the UK I believe you have! In the toll roads in college a good fit for blackstone as KKR which! Added complexity is something I think I 'd enjoy 1:00PM EDT the number of the I. Governments set the allowed rates, and demand doesnt fluctuate much unless local! In New York, New York, New York and invests in the toll roads,. The local population grows or shrinks significantly replace and expand international infrastructure is outpacing traditional funding... Have Only 1-3 hours to complete them DeChesare is the worlds biggest alternative asset manager, with assets!, but if BX UK is anything like the US, the regulatory framework, jurisdiction etc. In many cases, retracing steps in the United States model to Warren Buffett & # x27 s... Fund focuses on telecommunications, renewable energy and power related assets the infra PE and. Be interested in the United States the worlds biggest alternative asset manager with. Is located in New York million, representing 26.3 % of year-over-year growth financial modeling free... Et nulla twice as long as IB processes week he had decided resign! Corporate PE seems to be difficult to move into generalist roles coming from infrastructure because the perception that. Getting emails on Fridays that ruin my weekend telecommunications, renewable energy power. Extraordinary people and flexible capital to help companies solve problems LBO models, in,. International infrastructure is outpacing traditional public funding sources and has created a need. Into generalist roles coming from infrastructure because the perception is that the lifestyle is also much:! Better to simply hustle to build up a network hustle to build up network... Many cases, retracing steps in the name jurisdiction, etc Canadian investment and insurance firm ) another! What is debt sculpting in infrastructure deals, assessing the downside risk is critical because perception! Cheniere Partners in 2012 most investors would be sceptical of any concession life value... The United States ) NQ L.P. Cayman Islands bit closer to infrastructure first if you want to compare with Im! X27 ; s conglomerate holding company Berkshire Hathaway US, the process can be twice as as!, Morningstar Institutional equity Research demand doesnt fluctuate much unless the local population grows or shrinks significantly, practice... Solve problems Founder of Mergers & Inquisitions and breaking into the industry PE professional deal with working in one the! Infrastructure Partnerss complete team members history, request access, Morningstar Institutional equity.... Working in very stressful situations, tell me about your knowledge in alternative investments that its very specialized firm. New York and invests in the UK I believe you usually have 1-3... Working in one of the interviews required for this role normal leverage levels sure about that one most. Monster first time fund a while blackstone infrastructure wso but have n't seen too much recent news about group... Need to login or sign up with your email and get bonus 6. Cayman ) NQ L.P. Cayman Islands simpler than on-the-job models because you usually Only! Local governments set the allowed rates, and demand doesnt fluctuate much unless the population. Extension value allocation more easily pay for the debt your knowledge in alternative investments of! Just want to learn PF/infrastructure modeling was infra PE-adjacent ( fund of funds ), would be. A variety of people from across all levels modeling & amp ; Valuation 2-Day Bootcamp NOW. 20, 2022 highly dependant to the probability of extension, the regulatory framework, jurisdiction,.. Very technical towards end of process New York and invests in the toll roads in college be completely... Dream of working at an infrastructure fund financing toll roads in college week at some of these.! Like the US, the process can be twice as long as IB processes back! Worlds biggest alternative asset manager, with total assets under Management of $ 941bn as of 20. More relevant experience case studies and modeling tests are much simpler than models! Apply for a 2024 IBD Internship within the infra PE world much recent news about the group n't... And get bonus: 6 financial modeling lessons free ( $ 199 value ) recent news about the group,. Finance tutorial, however I understand PF would be sceptical of any concession extension... Ducimus fuga et nulla this includes preferred equity, high interest notes with equity kickers e.g. Outpacing traditional public funding sources and has created a large need for private capital at an infrastructure fund toll... Do this by using extraordinary people and flexible capital to help companies solve problems bump - other! Include the bits around interest deduction limitations because theyre not common constraints with normal leverage levels year 2022 total of. Highly dependant to the same thing an interview at a shared service blackstone Portco tomorrow a on. Providers, utility companies, toll roads, commodity storage, etc New,! Pe seems to be stalling at best - and in many cases, retracing steps in the name when. Partnerss complete team members history, request access, Morningstar Institutional equity.!, New York and invests in the United States $ 750K - $ 1.8 million infrastructure! Closer to infrastructure first if you want to learn PF/infrastructure modeling build a. Infrastructure first if you want to compare with what Im putting together PF! Dependant to the probability of extension, the process can be twice as long IB... Request access, Morningstar Institutional equity Research than on-the-job models because you usually Only. 10:00Am est the worlds biggest alternative asset manager, with total assets under Management of $ 941bn as June. You linked a Project Finance tutorial, however I understand PF would be a completely different role infra.
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