BAAM Special Situations, Principal

Blackstone is the world’s largest alternative asset manager. 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. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $1 trillion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis.

Business Unit: BAAM

Business Unit Overview:

Blackstone Alternative Asset Management (BAAM®) manages approximately $78 billion across a diversified set of businesses, including a customized portfolio solutions business, a special situations platform, a business that purchases GP stakes in alternative asset managers, an open-ended mutual fund platform, and an emerging manager seeding business. BAAM invests across a variety of asset classes and strategies to create solutions for its investors. Through its sharp focus on clients’ goals, a rigorous due-diligence process and access to Blackstone’s global insights, BAAM strives to generate attractive risk-adjusted returns across market cycles while mitigating downside risk during stressed market environments. 

Job Title: BAAM Special Situations, Principal

Job Description:

The BAAM Special Situations platform (“BSOF”) was launched in 2011. BSOF’s mandate is flexible across the capital structure – investing in equities, preferreds, converts, bonds, loans and structured investments. The team can execute on both private and public opportunities across geographies or industries.

The BSOF team is able to leverage BAAM’s 100+ hedge fund manager relationships, the broader Blackstone network and the team’s direct relationships to source attractive investment opportunities. The team seeks a Principal to support the fund’s fundamentally driven investment process.

Key responsibilities for this role include:

• Source and underwrite potential investments across asset classes including equity, credit, hard assets, and private investments
• Draft and deliver investment memoranda for presentation to the BSOF Investment Committee
• Construct detailed financial models on individual securities
• Monitor existing investments by maintaining company models and updating position-level investment scenarios and risk/reward expectations
• Conduct research on the macro and micro factors that may impact potential investments

Critical Experience Requirements for Role:

• Direct investment experience within a buyside environment
• Experience managing investment positions
• Strong accounting and financial modeling skills
• Strong financial skills
• Strong organizational and communication skills as well as a demonstrated ability to write effectively.
• The ability and interest in being “hands on”
• A well organized and disciplined approach to work effort

Critical Competency Requirements for Role:

• Strong analytical and quantitative skills at a highly competitive firm
• Active listening skills with the ability to integrate new information and develop investment recommendations
• Strong emotional intelligence, integrity, and the intellectual curiosity to ask probing questions

Expected Long Term Outcomes

• This will be a senior investment role to assess and drive direct investment opportunities across asset classes
• Generate improved direct sourcing capability

Qualifications:

Blackstone seeks to hire individuals who are highly motivated, intelligent, have sound judgment, and have demonstrated excellence in prior endeavors. In addition to strong analytical and time management skills, the successful candidate must have:

• 7+ years of professional experience in investment banking, investment management, management consulting, or investment product development.
• Sound understanding of capital markets, financing structures, and typical trading strategies used by alternative asset managers.
• Excellent verbal, written, and interpersonal communication skills to synthesize information quickly and communicate clearly.
• Ability to manage ad-hoc projects, with minimal oversight.
• Strong proficiency in PowerPoint, Excel, and Bloomberg.
• A growth mindset and eager to learn new concepts.
• A team-oriented mindset.
• Strong attention to detail.
• integrity and discreet with sensitive information.
• Candidate should be self-motivated and a team-oriented individual who thrives in a dynamic environment.
• Undergraduate degree is required.

The duties and responsibilities described here are not exhaustive and additional assignments, duties, or responsibilities may be required of this position. Assignments, duties, and responsibilities may be changed at any time, with or without notice, by Blackstone in its sole discretion.

Expected annual base salary range:

$225,000 - $250,000Actual base salary within that range will be determined by several components including but not limited to the individual's experience, skills, qualifications and job location. For roles located outside of the US, please disregard the posted salary bands as these roles will follow a separate compensation process based on local market comparables.

Additional compensation: Base salary does not include other forms of compensation or benefits offered in connection with the advertised role.

Blackstone is committed to providing equal employment opportunities to all employees and applicants for employment without regard to race, color, creed, religion, sex, pregnancy, national origin, ancestry, citizenship status, age, marital or partnership status, sexual orientation, gender identity or expression, disability, genetic predisposition, veteran or military status, status as a victim of domestic violence, a sex offense or stalking, or any other class or status in accordance with applicable federal, state and local laws. This policy applies to all terms and conditions of employment, including but not limited to hiring, placement, promotion, termination, transfer, leave of absence, compensation, and training. All Blackstone employees, including but not limited to recruiting personnel and hiring managers, are required to abide by this policy.