2011 Summer Analyst: BAAM Legal & Product Development Group
Can anyone tell me more about this? I am concerned because there are fewer than 20 interview slots (far less than most other positions, not sure why?) and there is no GPA minimum or anything. Is this a legit internship? Any idea what an interview for this position would be (with whom, what technical knowledge necessary, if any?) The Blackstone Group is a great firm but I'm not sure how this position would compare to my other offers for MBB consulting, IB, PE, etc. Thanks in advance.
Location:
New York, New York
Industry:
Finance/Banking
Job Function:
Finance, Law
Type of Business: Blackstone is one of the world's leading investment and advisory firms. We seek to create positive economic impact and long-term value for our investors, the companies in which we invest, the companies we advise and the broader global economy. We do this through the commitment of our extraordinary people and flexible capital. Our alternative Asset Management businesses include the management of private equity funds, real estate funds, funds of hedge funds, credit-oriented funds and closed-end mutual funds. The Blackstone Group also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com.
Business Unit: Blackstone Alternative Asset Management (BAAM) is the hedge fund solutions division of The Blackstone Group. BAAM uses a multi-manager approach, investing in hedge funds to structure portfolios that meet the needs of its clients. BAAM offers broadly diversified, strategy-specific, and custom-tailored investment strategies designed to deliver superior risk-adjusted returns when compared to traditional asset classes. In addition to investing and protecting its clients' assets, institutional investors look to BAAM as a solution provider, offering advisory and technology services.
Job Description: BAAM - Blackstone's hedge funds solution division seeks a summer analyst as a member of its Legal & Product Development team. The summer analyst will work with BAAM's General Counsel, two managing directors, one vice president, three associates, and several analysts on a variety of different matters relating to hedge funds and funds of hedge funds. Primary job responsibilities include: review offering documents of underlying hedge fund managers and prepare summaries of key terms or issues relating to investments in hedge fund managers; assist in evaluation of manager terms and negotiation of side letters; assist in compiling various databases relating to Blackstone managers and Blackstone funds; provide support relating to the offering of any new funds or structured products; analyze manager and portfolio liquidity, fees, and other terms to produce internal and external reports; assess current and prospective regulatory risk through industry and government-focused research; perform research on market trends within the hedge fund industry; and prepare and review subscription materials with respect to Blackstone's investment in underlying hedge fund managers.
Qualifications: Blackstone seeks to hire individuals who are highly motivated, intelligent and have demonstrated excellence in prior endeavors. The successful candidate should have superior organizational skills and strong communication skills as well as a demonstrated ability to write effectively. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, or any other protected category.
