Blackstone - Investor relations/Business development
I'm a junior at a top target and I landed an interview with Blackstone's Investor Relations and Business Development Group (London). I got it through networking, and must confess I don't know what they do exactly. Had anyone here worked with them/know if it's worth it?
I think I have a pretty good profile, but I definitely lack in financial modelling as I interned last summer at a no-name boutique where I mainly did pitching/DD/other stuff. As IR seems to be less technical, should I expect any questions regarding this type of thing?
What pay can I expect? I know this is only for SA, but as a career, is it significantly lower than say PE analysts? It's Blackstone after all...
Thanks,
CT
It's so funny that someone got so far and then one of the first questions are: what are these guys doing, actually? How much pay is there?
gosh
PS: Don't get me wrong, I would tell you if I knew. But damn, are you serious?
PM sent.
I know it's crazy, thing is I've been applying only for IBD jobs, and I had never even considered investor relations before. I really just cold-emailed and was incredibly lucky.
It's not crazy dude. You're still in college. When I was in school I got to a final round FT analyst interview for Blackstone PE - London Office, and I hardly knew ANYTHING about PE or finance at the time... you're not a professional yet, it's fine. This is also not a PE job, so you'll never need to know modeling, etc. (someone correct me if I'm wrong, but IR people at my firm certainly never do any modeling or underwriting of any kind)
Fundraising - contacting new and existing LP's and arranging meetings (and follow-up) for new Funds.
Answering existing LP's questions on performance, underlying portfolio companies, drawdown schedules. quarterly reporting, (organising and attending update meetings)
For some client relationships you will be the contact for others you will support the partners on this side of things.
The most common exit that I have seen is for IR people to set up their own capital raising businesses to utilise their rolodex (which from Blackstone would be very strong).
I spend a lot of my time speaking to IR people (although only limited contact with megafunds) so feel free to ask any more questions here.
so would you mind sharing the comp range of this job, say junior-middle level, thx!
@ cocteautwin, how did the interview go? Was it primarily fit-based or did you receive some technical questions? I am interested in pursuing private equity fundraising/investor relations, and I am curious about the interview process for this group. Thanks.
Any word?
Bump.. are there are any exit opps for this? Would it be possible to lateral into IB from this role after only a year? Is this one of those back office roles that will be looked down upon by business schools?
Thanks
The job is all about building relationships. It's not only internal (working with LPs, fund raising) but also bringing in deals and building/maintaining relationships with investment banks, lawyers, turnaround shops, finders, etc.
It would be extremely difficult to lateral into an IB position from this role as there is very little financial analysis and modeling involved. In addition, pay is much lower than what you would get as an analyst in IB or an investment analyst in PE. As a first year in this position, I wouldn't expect six figures. That said, hours are exponentially better than those of your typical IB/PE analyst.
People who go into this role do so because they love networking and building relationships. It's not the right path for those looking to get into the more traditional IB/PE roles.
Evaluating Investor Relations Position at Blackstone (Originally Posted: 10/06/2011)
Currently an M&A analyst at a top firm, 1.5 years in, but hate lifestyle/work, not a finance background, don't like modeling, have a lot of problems with the inefficiency and culture in i-banking despite being very good at my job/highly rated.
Looking to get out with a view to get an MBA down the line. For now just want something where I get a good experience, earn good money, and helps me get into HBS or similar.
Considering a position at in investor relations/bus. dev at a hedge fund operated by Blackstone. Thinking that the lifestyle will be vastly improved (i.e. "late" night will be more like 9pm versus 3-4am, will rarely work weekends, will be able to plan travel/holidays to see family), pay will be above current but below an investing role (so maybe $130k-$150k all in) and will be somewhat interesting work given my strong communication/writing/presenting skills and interest in marketing/relationship management.
Any advice from people in the industry on these roles/positions? Just looking for some objective insight, many thanks guys.
I'm curious too, as I've been told to look into this type of work. What exactly do they do?
Hey,
Just saw your post. I have an interview in IR as well with a global PE firm. Could you share with me your interview experience? Further, what kind have questions did you get? Thanks!
How was the interview? Did you take the job?
Bump, recently saw a posting for this and was wondering if anyone has any thoughts on an IRBD position here?
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