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Closed as I found the answer to this question right away. Thanks for the help everyone, super insightful.
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They do have an incredible alts platform, believe it or not. their private equity fund, known as long-term capital fund, has performed extremely well. They are about to enter the market with fund two. if you have the opportunity to intern there, I would certainly take them up on it. Not sure what branch of Blackrock you are applying to but either way it’s a great organization.
Could you elaborate more on their direct PE strategy and how it's performed and evolved? I know they lowered fundraising targets for the first fund but what do returns numbers look like?
Would also appreciate any color on junior experience and comp.
I’ve never worked there only former colleagues. So all I know is what I hear. That being said for fund one, I know it has outperformed significantly, but it was short of its target. If you google the fund online, you’ll see that various issues at the top, which caused an exodus. No clue about plans for fund two.
In terms of compensation, you could look on LinkedIn at Blackrocks various positions. They all include a range as in New York you are required to do so with job postings - that should answer your questions re compensation.
I really hope this comment is preserved. It is a great snapshot between the sentiments expressed on this forum vs. reality.
There is also the Private Equity Partners group which is separate from LTPC. They do mostly coinvestments as well as fund investments, plus there is a separate team focused on secondaries. It is very difficult to lateral into this team from elsewhere in BlackRock as other posters have noted.
Worth noting that they just announced they’re essentially winding down this group. Managing out the rest of their fund and not raising another dedicated vehicle.
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