BlackRock PE partners?
There're several threads about BlackRock PEP, but they are out dated (mainly around 2013). I wonder what are BlackRock PEP now? Whether it still a FOF format? Or it has developed a direct LBO? What about its position compared with portfolio management group? Also, whether Blackrock Client portfolio solutions group belongs to Portfolio management group?
Talked with someone who's worked there recently. Based on that, my understanding is that they are increasingly moving into direct PE as part of a broader push of BlackRock into Alternatives. Strategy seems pretty broad - they have mandate for late stage VC/growth/MM LBO. Class size is very small (5-6 ppl globally). Exit opps seem decent - people exited to Bain Cap, TPG, BX in the past.
I don't have any knowledge of the Portfolio Management Group.
Make sense, Thanks.
@Ivrup do you know if direct PE is a separate / exclusive group you have to apply for? I noticed a strategy called "Long Term Private Capital (LTPC)" which I believe only does direct PE. I'm wondering if interns can work in LTPC or not. My impression is that BlackRock Private Equity Partners (PEP) is still only FoF and co-invest.
I don't, unfortunately. LTPC is separate from PE Partners from what I understand but I imagine there would be some resource sharing between them as LTPC is a pretty new strategy. I know that PE Partners has led some funding rounds recently (can remember Qumolo & Contentsquare from the discussion), so can't be purely FoF/co-invest. Also unlikely given where people have exited to. Just speculating though.
No interns at LTPC historically (it's new) but it's a good differentiated strategy, I think Carlyle has opened a similar strategy, as has CVC and some other long term only funds.
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Anyone who works at BlackRock PEP as intern/full time?
BlackRock PEP typically only hires summer interns (to convert to full-time) or amazing lateral hires. Usually 1 summer intern in London and one in Zurich.
What about US?
Chatted people there - seems like a very strong group and interesting work
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