Blackstone - real estate portfolio management team
Hi all - I wanted to ask what the blackstone real estate portfolio team is? I know there is a real estate acquisitions (PE team) among with real estate asset management - but can’t seem to find any info on their RE portfolio management team.
I know it’s not acquisition related but will I still learn a lot about real estate? Is this considered front office within the company? I am currently an analyst doing equity derivative sales at a BB so a less prestigious FO job on the buyside may be my only shot in PE - just want to make sure this is a FO gig where I actually learn about RE. Thank you very much.
Yes. The PM team at BX is considered FO, and comp is in line with other FO teams. I’d consider it to be one of the best roles to learn about RE, but to be honest you need a strong understanding of RE to even land the job in the first place. You will also likely be assigned to manage an entire fund—a ton of responsibility to say the least. The team runs lean (like other MF REPE PM teams) so expect the long hours that come with it.
Hi - thank you very much for your helpful response. In terms of hours, what is it like? I imagine it’s close to 80 a week with downtime (like IBD in between)? Right now my current job is 60 hours a week which is nice, but as I’m on the trading floor it is constantly monitoring screens.
I would expect 70-85, but that's my guess based on speaking to ex-BX coworkers.
Interviewed with them. No sure on comp but seemed like a lean team, there kind of meshes a few other jobs together. They are working on cool things that seem to involve analytics the most.
Thanks for sharing this - what is the interview process like? Is it mostly fit based or will I be expected to model? My background is solely in equity derivatives so I’m worried about modelling although of course I will memorise real estate terms / accounting and the basics if I’m lucky to even get an interview.
My advice is to understand equity waterfalls like the back of your hand. You may also be tested on portfolio management concepts (fund returns metrics & how to calculate them), and asset-level real estate financial modeling (such as calculating levered net cash flow + returns metrics from a set of assumptions).
Hi there, could you please tell me how the interview process was like?
Could you please PM me on the interview process as well if you have the time? Thanks.
Hi everyone, I know its long after the other posts, but would someone who got PM'd some insights into the recruitment process, RE fundamentals needed during the application process etc. please send them over to me?
I have an interview for a BX PM analyst role in London next week and I am stressing. The email states a 3-hour case study as well as a GMAT-style maths test.
Any thoughts?
Thanks in advance.
Interviewed in NYC, wasn't bad but you might be a round further than I made it.
Exit analysis and Refi analysis is going to be what is happening here.
Thanks for the response. That's very helpful thanks very much - would you mind providing me a bit more detail regarding the case study?
Additionally, the maths test will be happening over a Zoom link. Any idea how this works?.. I have emailed back but have not had a response yet.
Cheers
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