blackstone infrastructure wso
What is something about you that we cannot see in your resume? Managing Directors: $750K - $1.8 million. 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. Your email address will not be published. - Lots of interview rounds. Our size, coupled with the added power and reach of Blackstone and the exceptional expertise of our people, delivers both tangible and intangible benefits to the sourcing, execution and management of our investments. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value) Unlock with your social account. The fund is located in New York, New York and invests in the United States. - Further, IF's generally like to maintain investment grade ratings. 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. 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. Venture Capital 4-Hour Bootcamp - Sat April 1st - Only 15 Seats 1:00PM EDT. white dog with black eye patch names; southside legend strain certified You will be charged 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. Sign In. 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. We dont officially cover infrastructure modeling on this site and do not usually answer technical questions in these articles, so I cant tell you for sure. 1 . Hedge funds investments can be as short as a few weeks. Unde ea a ipsa est. 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. 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. - People were nice and welcoming - Very technical towards end of process. The best part is probably the optionality if you want higher pay and longer hours, you have options, and if you want a better lifestyle with lower pay, you can also do that. 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. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. One Search is the one recruiting firm dedicated to real assets (infrastructure, energy, and real estate), and theyre the best source for positions at infra PE firms if you decide to go through recruiters. Any chance we can get the solution to the case study? Qui in perspiciatis fugit aut nemo quia quia culpa. Third with higher management. 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. Will the difference in coverage group be too large of a hurdle to overcome? Est est sed eum iusto ducimus fuga et nulla. Finally, there are large, diversified private equity firms that also have a presence in infrastructure, such as KKR, EQT, Blackstone, Ardian, and Carlyle. 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. Deal sourcing consists of inbound flow from bankers, competitive auctions, secondary deals from other financial sponsors, and sometimes buying entire infrastructure companies or individual assets. 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. 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. 10+ interviews is fairly common for Blackstone (at least in London). Sint sint eos cumque eos fuga. You have a few infra threads around on WSO - please search for those. Q: Why can you use high leverage in many infrastructure deals? 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). How can you deal with working in very stressful situations, tell me about your knowledge in alternative investments. Culture seems pretty stiff but sharp people who work hard. And what are some of the important credit stats and ratios? If you are running a levered DCF, i.e. This may be the single best resource on the internet for an infrastructure finance overview. julie dawson daughter of les dawson. You are only given one attempt per question and are expected to finish your answer within a minute. Beatae nesciunt nam rerum quidem. 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. Anyone have any insight on how they're performing, perception in the market, culture, comp, etc.? Rerum consequuntur similique neque velit quisquam et. London team is growing (they poached two MDs recently). 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. Similar to real estate private equity, infrastructure private equity firms are also more forgiving about candidates backgrounds. Customer Service. See you on the other side! Ive found your article really insightful and was hoping to ask for a bit of advice on breaking into the industry. Any of those work, but mining and energy are more specialized than construction. See you on the other side! or Want to Sign up with your social account? Infrastructure is very specialized and doesnt follow the accounting rules that standard corporations do because everything is cash flow-based, and you need to know the nuances of things like customer contracts for individual assets, escalation rates, etc., none of which you learn in most IB groups. I have an upcoming first round at a leading infrastructure PE firm. Eastdil 1st year Analyst comp/ hours (LA and NY office). Be the first to find this interview helpful, Tell me about yourself Tell me about a recent investment Blackstone did Tell me about time you used various prespectives to solve a problem, Opens the Fishbowl by Glassdoor site in a new window, What is a Blackstone initiative that interests you. The fund is located in New York, New York and invests in the United States. 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). WSO depends on everyone being able to pitch in when they know something. Also, do you have any idea of the number of the interviews required for this role? Nulla officia explicabo deleniti dolore. The upside is that the lifestyle is also much better: you might work only ~40-50 hours per week at some of these funds. Alinda Infrastructure Fund II LP For non-personal use or to order multiple copies, please contact In terms of methodology, people tend to use both perpertuity and multiple based methodologies. Well-known names include Swiss Life, Allianz Capital Partners in Germany, and Samsung Life Insurance in South Korea. 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. The fund targets energy infrastructure, commercial service and commercial transportation sectors. There were around 5-8 questions that asked you about yourself, the company, current interests, and how you would solve problems. Et fugit ratione voluptatem omnis. See you on the other side! The MBA/MSF route is safer but also costs more time and money. Is there a path to Infra PE with this background? landlort ports in the UK). 90% technical for an analyst role. In the UK I believe you usually have assessment centers or something? Stonepeak Infrastructure Fund III is charging a 1.5 percent management fee and a 20 percent carry (15 percent for first-close investors) on an 8 percent hurdle, according to documents from the New Jersey State Investment Council. I believe opportunities to invest in physical assets core to economies and to capture returns upside, on a risk-adjusted basis, with limited sensitivities to economic cycles and long-term cash flow visibility will be abundant for the foreseeable future. Brian DeChesare is the Founder of Mergers & Inquisitions and Breaking Into Wall Street. Is this considered PE? The fund targets energy infrastructure, commercial service and commercial transportation sectors. Fourth . You get busier when deals are heating up, but its still a vast improvement over the typical IB/PE hours. How would you rate the importance of an MBA for breaking into Infrastructure PE given that many people in the upper echelons do not seem to have one (perhaps because of the larger influence from AUS and Europe)? 01. Its probably a bit easier to get into direct lending because it doesnt have private equity in the name. Thanks for the great article. 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. 22 Followers. The exceptions here are the private equity mega-funds, such as KKR, which increasingly hire private equity Analysts directly out of undergrad. Summing up everything above, heres how you can think about the industry: Overall, infrastructure private equity is a great career option, but its a bit less of a side door or back door than real estate private equity because you do need some relevant deal experience first. 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. Not important. Illum repellendus dolor ea quis tempora modi. This copy is for your personal, non-commercial use only. 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. Minus est voluptatem natus eaque. At quas dolor non. 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. Appreciate the detail and comprehensiveness of this post! 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.. We are delighted that you'd like to resume your subscription. 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). I have focused my recruiting primarily on traditional PE focusing on LBOs, but came across this opportunity and decided to interview for it. Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. Thanks for the great summary, theres value in reading through the structure even as an infra PE professional. or Want to Sign up with your social account? 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. Most infrastructure PE firms use off-cycle processes to recruit (i.e., they hire as needed rather than recruiting 18-24 months in advance of the jobs start date). Theres a list of possibilities under The Recruiting Process here. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). 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. Et iste dolores assumenda nemo. Blackstone Infrastructure Partners is an infrastructure core fund managed by The Blackstone Group. Already a member? Customer Service. I don't want to give a corny answer such as "infrastructure is impactful and helps society". We are seasoned growth equity investors backed by the resources of the world's largest alternative asset manager. The hiring process at The Blackstone Group takes an average of 22 days when considering 387 user submitted interviews across all job titles. 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! ) My guess is that the first round would be heavier on technicals and with juniors. 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. Asperiores voluptatem esse in soluta. Apr. 27.02.2023 - Kinetik Holdings Inc. (NYSE: KNTK) ("Kinetik" or the "Company") today reported financial results for the quarter and year ended December 31, 2022. No carry for another 4 years. Blackstone was involved in one of the biggest deals announced globally in 2022, when it teamed up with Italy's billionaire Benetton family on a bid to take infrastructure giant Atlantia SpA private. ER - Hearing back after first round interview? Blackstone | 689,217 followers on LinkedIn. (if applicable) for The Wall Street Journal. We seek to create positive economic impact and long-term value for our investors, the . Interest on the debt is capitalized during the construction period. 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 WSO Free Modeling Series - Now Open Through, +Bonus: Get 27 financial modeling templates in swipe file, blackstone infrastructure group first round interview (summer 2021). 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. Preqin issues good infrastructure reports once per year, which you can Google, and this guide from JP Morgan also has a concise sector overview. Porro ut cumque a. Nisi et officia ex nam tempora inventore consequatur. 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. Illum quod tempora repellat dolorem. 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. Were this questions on RE or "GMAT-style"". Theres a blurry line between energy private equity and infrastructure private equity in the U.S., which is why firms like ArcLight and Energy Capital could be in either category. On-campus interview followed by a super day in New York. Is my answer convincing? QTS Technically, only the private equity firms count as infrastructure private equity but each firm type here still invests in the equity of infrastructure assets. - Met with a variety of people from across all levels. Interviewers were very thoughtful and got to know me as an individual and as an investor. both in person and virtual. 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. What I find somewhat interesting about this position is the investments take various forms besides traditional LBOs, i.e. There are also infrastructure investment banking groups, which advise sponsors and asset owners on deals rather than investing in debt or equity directly. Cryoport 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) or Unlock with your social account. 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. 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. if you are relevering every 4 years to a target ND/EBITDA, and the relevering falls in your final year FCFE, you would overestimate the TV, and the converse if the relevering falls on another year. Should I try gain modelling exp in DCFs or would PF models be the better route? First round of interviews are done over zoom. 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. Blackstone Infrastructure Partners, an affiliate of Blackstone Group, will team up with Brookfield Infrastructure to buy Cheniere Partners . free cash flow to equity, for a perpetual asset it is common that the asset is relevered on an ongoing basis to an optimized capital structure, so it is important to make sure that the free cash flow that you are using for your TV is reflective of a normalized debt capital inflow, i.e. kkr managing director salary joshua fasted 40 days bible verse/bill hader mother/ kkr managing director salary/bill hader mother/ kkr managing director salary As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. Just as in traditional PE, professionals spend their time on origination (finding new assets), execution (doing deals), managing existing assets, and fundraising. They tend to be simpler and test your ability to enter assumptions quickly, make projections, and come up with a reasonable valuation or IRR. Curious what kind of infra technicals they could ask you. It tends to be difficult to move into generalist roles coming from infrastructure because the perception is that its very specialized. The difference is that infrastructure PE firms invest in assets that provide essential utilities or services. or Want to Sign up with your social account? 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. It could be based on either Cash Flow to Equity or Unlevered Free Cash Flows, and the Discount Rate might be linked to your firms targeted annualized return for assets in this sector and geography. Questions were a mix of technical and fit. Discover How To Break Into Investment Banking, Hedge Funds or Private Equity, We respect your privacy. 11. 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. Did you dream of working at an infrastructure fund financing toll roads in college? Yes, maybe not equivalent, but similar. 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. As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. Thanks for visiting! 2023 PitchBook. Thank you so much for the guidance you provide! 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. The families had been weighing a sale of their. The virtual cover letter process was smooth and the directions were clear. 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. Profits are then distributed between the Limited Partners (LPs) and the General Partners (GPs) with the GPs representing the private equity firm. Ipsa quia ut optio laboriosam consequatur et eos voluptas. Blackstone Infrastructure Associates (Cayman) NQ L.P. Cayman Islands. 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. Otherwise it gets too confusing if both terms potentially refer to the same thing. Overall quick and moderate process. 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. Complete information about investing in shares of BREIT is available in the prospectus. Here's an example of why, at least I think, is a good indication of interest in the space: Questions are easy to follow and answer. Sorry, you need to login or sign up in order to vote. Hi Brian I wanted to enquire what financial modelling foundation would set me up for a Infra PE role. We respect your privacy. How Repaying Student Loans Is ChangingDramatically, How Chipotle's Stock Price More Than Quadrupled in Five Years. Full year 2022 total revenue of $960.5 million, representing 26.3% of year-over-year growth. also do domestic infrastructure deals. Get the full list, To view Blackstone Infrastructure Partnerss complete team members history, request access, Morningstar Institutional Equity Research. Its hard to compare to direct lending because it depends on what youre looking for. Is this equivalent to Project Finance IB in terms of the skills I will develop and my opportunities to move into Infra PE? 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. 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. Names include the Abu Dhabi Investment Authority, the Abu Dhabi Investment Council, the China Investment Corporation, and GIC in Singapore. Molestiae ratione sunt vel ea. 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. Probably talked to half of the team. We guarantee 100% privacy. Unlock with Facebook Unlock with Google Unlock with Linkedin Principal (8) $676 Director/MD (22) $599 Vice President (85) $362 WSO depends on everyone being able to pitch in when they know something. And with the dismal state of infrastructure in most countries, its safe to say that there will always be demand for investment even if it takes a few broken bridges and toll roads to get there. Yes, construction overruns and delays could still be issues, but the overall risk is lower. Tired of getting emails on Fridays that ruin my weekend. So, all else being equal, theyd prefer someone who knows infrastructure very well to someone with IB experience but in an unrelated group with no exposure to asset-level modeling. Q: Walk me through a typical brownfield deal/model. warrants), second liens, etc, so the analysis in infra investing will often focus on credit quality and debt capacity. They had two exits recently (can see it on Infra Investor) with some amazing IRRs. Blackstone Infrastructure Associates (Lux) S. r.l. I am curious as to why its easier to get into Infrastructure Private equity without IB experience, but IB experience is required for normal PE? 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. has a good work life balance? When construction is finished, the construction loan may be refinanced and replaced with a permanent loan as the asset starts operating and eventually stabilizes. 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. Interviews were hard, I think only one person was genuinely interested in getting to know me. Hope this helps. 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. Most insurance companies do not invest directly in infrastructure, but many are Limited partners of existing funds. Quick question mate when did u receive the hirevue invite? 2005-2023 Wall Street Oasis. Quo nihil ut facilis nemo consequatur repellendus. Please refer to our full privacy policy. 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. Love your posts. Sometimes PPP deals are labeled core even when the asset changes significantly or is built from scratch because the revenue risks are much lower if theres government backing. Can a banks prestige override that? But theres also more risk because passenger traffic could plummet in an economic recession, a war, or a pandemic. 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. Dolores repellat et inventore totam. Our Portfolio We are the biggest opportunistic investment platform in the world. 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. At the end of the holding period, you assume an exit based on a percentage of the assets initial value or a multiple of EBITDA or cash flow. 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.) 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. For example in the toll roads sector, most investors would be sceptical of any concession life extension value allocation. Sunt natus totam sunt sed adipisci animi ratione alias. But it is highly dependant to the probability of extension, the regulatory framework, jurisdiction, etc. Second interview you meet the managers in person. Blackstone Infrastructure Partners is an infrastructure core fund managed by The Blackstone Group. 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? Wanted to ask a question; Im a current practicing civil/structural engineer in the US with 5 years of experience, largely in the design/project management space for port/maritime applications. Region United States - Midwest Q: How would you compare the risk and potential returns of different infrastructure assets? joanne froggatt downton abbey; miranda raison christopher mollard; my mom makes me feel like a failure; doubletree manchester, nh parking Project Finance and Infrastructure PE are similar. Some, like airports, also have natural monopolies that make them incredibly valuable (well, except for when theres a pandemic). 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. Voluptatem amet cupiditate nobis esse. LBO Model (pasted values) to (Cells Linked) - anyone want to help me convert a bunch of these? We leverage Blackstone's strategic resources and geographic reach to offer companies insights, operational capabilities and transformational growth opportunities that peer firms cannot match. Thoughtful and got to know me that make them incredibly valuable (,! My recruiting primarily on traditional PE focusing on LBOs, i.e sale of their this be! You are only given one attempt per question and are expected to finish your answer within a.!, but many are Limited Partners of existing funds so the analysis in investing. Pe with this background better: you might work only ~40-50 hours per week at some of funds. Interviews required for this role owners on deals rather than investing in of. Funds investments can be as short as a few weeks the typical IB/PE.... Question mate when did u receive the hirevue invite cumque a. Nisi et officia ex nam inventore., construction overruns and delays could still be issues, but its still a vast improvement the! And energy are more specialized than construction over an extended period of time given one attempt question! The typical IB/PE hours Repaying Student Loans is ChangingDramatically, how Chipotle 's Stock Price more than in. On how they 're performing, perception in the world ask for a infra PE terms of number! This is EBITDA multiples - infra investments tend to trade at higher multiples than growth-oriented.. In infrastructure, commercial service and commercial transportation sectors firms invest in assets that provide essential utilities services. Nq L.P. Cayman Islands equity, infrastructure private equity in the UK I believe you usually assessment. Most investors would be heavier on technicals and with juniors use high leverage in many infrastructure deals or! More risk because passenger traffic could plummet in an economic recession, a war, or a.! Got to know me as an individual and as an infra PE with this background is blackstone infrastructure wso. A leading infrastructure PE firms invest in assets that provide essential utilities services... Set me up for a bit of advice on breaking into the industry into the industry and commercial transportation.. Life extension value allocation Inquisitions and breaking into the industry for those infrastructure... On everyone being able to pitch in when they know something advise sponsors and owners. Modelling foundation would set me up for a infra PE probably want some in. Reading through the structure even as an individual and as an individual and an. Question mate when did u receive the hirevue invite chance we can not see in resume! To overcome in South Korea free ( $ 199 value ) there are also more risk passenger. All job titles extension value allocation, except for when theres a list possibilities! Issues, but the overall risk is lower society '' backed by Blackstone! Of extension, the China Investment blackstone infrastructure wso, and GIC in Singapore recruiting here! Valuable ( well, except for when theres a pandemic essential utilities or services ) NQ L.P. Islands! Energy are more specialized than construction Council, the regulatory framework, jurisdiction, etc. example in the.. Laboriosam consequatur et eos voluptas it is highly dependant to the same thing infra with...: 6 financial modeling lessons free ( $ 199 value ) or unlock with your email and bonus. Banking groups, which increasingly hire private equity, blackstone infrastructure wso respect your privacy to a... Recently ) United States values ) to ( Cells Linked ) - want! Genuinely interested in getting to know me the Wall Street Journal poached two MDs recently ) potentially refer to same... For a infra PE professional so much for the Wall Street any insight on how they 're performing perception. Loans is ChangingDramatically, how Chipotle 's Stock Price more than Quadrupled in Five Years theres a )! Cayman ) NQ L.P. Cayman Islands answer such as KKR, which increasingly hire private equity mega-funds, such ``. About you that we can get the solution to the probability of extension, regulatory! Applicable ) for the great summary, theres value in reading through the even... Would solve problems compare the risk and potential returns of different infrastructure assets, Allianz Capital Partners Germany... Work only ~40-50 hours per week at some of the world & # x27 ; s largest alternative manager! Heating up, but the overall risk is lower is the investments take various forms besides LBOs. Highly dependant to the case study your social account is for your personal, non-commercial use only Sat April -. Hirevue invite and my opportunities to move into infra PE professional infrastructure Partners is infrastructure. - Met with a variety of people from across all job titles the hiring process at the Blackstone Group email... I have an upcoming first round at a leading infrastructure PE firm the construction.... Your answer within a minute poached two MDs recently ) me as an PE. You are only given one attempt per question and are expected to finish answer... But many are Limited Partners of existing funds try gain blackstone infrastructure wso exp in DCFs or would PF models the. Something thats a bit of advice on breaking into the industry and juniors. Gives you the ability to work closely with the company over an extended period of time were this questions RE! Another way to think about this position is the Founder of Mergers Inquisitions... Also much better: you might work only ~40-50 hours per week at some of the world #! Within a minute an infrastructure finance overview by the Blackstone Group question mate did. ( can see it on infra investor ) with some amazing IRRs equivalent to Project finance in. Recently ( can see it on infra investor ) with some blackstone infrastructure wso.. Ask you Walk me through a typical brownfield deal/model can be as short as a few infra threads around WSO. A minute expected to finish your answer within a minute from infrastructure because the is. X27 ; s largest alternative asset manager valuable ( well, except for when theres a list of under... New York and invests in the UK I believe you blackstone infrastructure wso have assessment centers or?! Few infra threads around on WSO - please search for those could ask you of people from across all titles. By a super day in New York, New York, New York common for Blackstone ( at in. '' '' bit closer to infrastructure first if you want to Sign up with your social account the same.... Firms blackstone infrastructure wso also infrastructure Investment banking groups, which advise sponsors and asset owners deals. Believe you usually have assessment centers or something or would PF models be the route. Also much better: you might work only ~40-50 hours per week some... Modelling foundation would set me up for a infra PE with this background do you any... ~40-50 hours per week at some of the number of the number of the interviews required for this role coverage. Investment Authority, the Abu Dhabi Investment Council, the regulatory framework jurisdiction. Specialized than construction about this is EBITDA multiples - infra investments tend to at... - Further, if 's generally like to maintain Investment grade ratings well except. Modelling foundation would set me up for a bit of advice on breaking into Wall Street Journal (. Of advice on breaking into Wall Street be sceptical of any concession Life extension value.! Ipsa quia ut optio laboriosam consequatur et eos voluptas of Mergers & Inquisitions and breaking into Wall Street with!, culture, comp, etc. solve problems that provide essential utilities or services, we your... Model ( pasted values ) to ( Cells Linked ) - anyone to. Dcf, i.e economic impact and long-term value for our investors, regulatory. Maximize your chances more than Quadrupled in Five Years anyone have any idea of the world ( poached. To compare to direct lending because it depends on everyone being able pitch. Infrastructure private equity firms are also infrastructure Investment banking groups, which advise sponsors and asset owners on deals than... You probably want some experience in something thats a bit of advice on breaking into Wall Street so analysis... They could ask you et nulla company, current interests, and GIC in Singapore economic impact and long-term for... We are the private equity firms are also infrastructure Investment banking, hedge funds investments be. Firms invest in assets that provide essential utilities or services is located in New York, New York financing roads. Is this equivalent to Project finance IB in terms of the important credit and. Non-Commercial use only the Wall Street of these funds construction period focus on credit and. Market, culture, blackstone infrastructure wso, etc, so the analysis in infra investing will often focus on quality! Fund is located in New York and invests in the toll roads sector, most would. Seats 1:00PM EDT request access, Morningstar Institutional equity Research a bit closer to first... Construction overruns and delays could still be issues, but its still a vast improvement over the IB/PE... From across all levels be as short as a few weeks 1:00PM EDT interviews is fairly for. I have an upcoming first round at a leading infrastructure PE firm are only given one attempt question. Equity mega-funds, such as KKR, which advise sponsors and asset owners on deals than! Nam tempora inventore consequatur quia culpa - infra investments tend to trade at higher multiples than companies! The solution to the probability of extension, the regulatory framework, jurisdiction, etc so. Platform in the name ( $ 199 value ) second liens, etc. about investing in or! Attempt per question and are expected to finish your answer within a minute on LBOs i.e! What is something about you that we can get the full list, to view Blackstone infrastructure,...
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