Blackstone PE 1st round

First round at BX PE (phone interview) tomorrow. What questions should I expect? Interned at a BB in IBD.

How long does the 1st round phone interview usually last?
When do they inform us about the result of the 1st round?
Any other tips on how to prepare? Websites? Guides?

Comments (71)

Aug 28, 2013

bump

Aug 28, 2013

30 minutes, usually very technical with some fit along the way. You should know your stuff, and if you don't know something be prepared to reason through everything.

Is this for the London Office?

    • 1
Aug 28, 2013

Interview just got postponed for a few days. Thanks a lot Matrick.

Anyone else? Any advice will be very helpful!

Aug 28, 2013

In addition to knowing your technicals, you should know how to evaluate a business or investment proposal. Having some sort of framework would be smart, but understanding how to qualitatively look at a business (competitive threats, growth opportunities, upside/downside cases, formulating an equity story, "porter's five", etc.) is more than just knowing your corporate finance technicals.

Aug 28, 2013

Technicals aside, you should probably try to remember as many details about the deals you were involved in during your BB internship as possible as well as the reasoning behind each of them. Just treat it like you would any other interview, no need to get intimidated by the name.

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Aug 28, 2013

for the technicals, is the M&I BIWS guide (basic? advanced?) sufficient? or does Blackstone look for a better understanding of the theory itself?

I was thinking of going over rosenbaum for accounting and lbo stuff if M&I wasn't going to be sufficient. Thoughts?

Sep 26, 2013

...

Aug 29, 2013

@dreamer1992 - if you're talking about Bain Capital, they focus almost exclusively on hiring people with a consulting skillset.

Sep 26, 2013

Regardless, I believe it's going to be heavy on the case to test how you approach investment analysis. They aren't going to ask an explanation for the 10 types of debt tranches. Probably high level LBO valuation and accounting

Aug 29, 2013

my friend interviewed here last year, and he told me a big part of it was a case study.

Aug 29, 2013

damn, i wouldnt feel even remotely ready for a bx pe job. hats off to you

Sep 26, 2013
NYKnicks92:

damn, i wouldnt feel even remotely ready for a bx pe job. hats off to you

the job is very far from a first round phone interview my friend.

Aug 29, 2013

not quite sure what you mean by that

Aug 28, 2013
dreamer1992:
NYKnicks92:

damn, i wouldnt feel even remotely ready for a bx pe job. hats off to you

the job is very far from a first round phone interview my friend.

Yup with BX it really is.

Aug 28, 2013

You should also think about coming up with an investment proposal. When I interviewed with them, one of the interviews consisted solely of walking the interviewer through my idea of where to invest at the moment and why. Explain the pros/cons, etc. This is something that you should really prepare. Just look at where the current M&A activity is the highest and then come up with a thesis that you can defend on the basis of industry or even company specific numbers and trends. I would stay away from anything that is too specialized, ie FIG or any real NatRes assets. High Technology is usually a good choice, for example.

Aug 29, 2013

Hahaha I also had that interviewer and he was not looking for a precise number. I got cut after the super day. I heard a rumor that BX M&A didn't take many people from the super day or anyone at all...any word?

Aug 29, 2013
Money4Life:

Hahaha I also had that interviewer and he was not looking for a precise number. I got cut after the super day. I heard a rumor that BX M&A didn't take many people from the super day or anyone at all...any word?

I know a guy who got it through accelerated recruiting.

Aug 30, 2013

Anyone heard back about superdays yet?

Aug 29, 2013

about getting a superday or about getting an offer after a superday?

Aug 30, 2013

Either. I think superdays are next week.

Aug 29, 2013

to clarify, do you mean pe or m&a? i kind of hijacked this thread with m&a questions, sorry

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Aug 30, 2013

I'm talking about PE.

Aug 29, 2013

i heard bx m&a took 4 people outside their intern class, 1 of whom whom came from another bx division while the other 3 came from different banks. does anyone know which groups those 3 others came from?

Aug 29, 2013
Aug 29, 2013

i can't tell if you're being serious

Aug 29, 2013

I am. Not 100% positive, but have heard the above.

Aug 29, 2013

jefferies --> bx m&a is a big jump to say the least and quite unlikely given that they interviewed a ton of kids from top BBs and EBs

Sep 27, 2013
NYKnicks92:

jefferies --> bx m&a is a big jump to say the least and quite unlikely given that they interviewed a ton of kids from top BBs and EBs

This has happens in LDN.

Aug 29, 2013

yea, as I said, not 100% positive

Sep 27, 2013

I can confirm that one of the analysts to BX M&A came from Citi M&A.

Sep 28, 2013

Are you guys talking about London or Nyc, they are still interviewing for London...

Sep 28, 2013

Sounds like London.
I remember my first phone interview ever for a summer program abroad. horrible hate that! but i think its normal that they really have technical questions sometimes I would say very specific, they want to check your skills for the rest there are round 2&3.

and now : how was the interview and when did you think you will recieve an answer, i guess if they are interested in you within less a week.

Feb 27, 2014

Does anyone know how long it'll take them to get back to you after the 1st round phone interview?

Feb 27, 2014

I've heard that Blackstone PE undergrad interviews are mainly behavioral and you might get one technical

Feb 27, 2014

Not true. Interviews can be very technical, but of course you have to nail the behaviorals as well. Some technicals will be the same as what you've seen in banking interviews, but also expect to see more buyside-specific questions. They're investors, not salesmen. You'll need to adjust to that.

Finally, Blackstone PE very much has a rockstar culture. They don't want modest, meek people. They want the best of the best and you need to show them that you're exactly that. Don't be cocky, but be sure to come across as very confident. You need to be well-spoken, put together and sure of yourself. Again, beware of crossing into cocky territory.

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Feb 27, 2014

You will have a case.

Feb 27, 2014

Can anyone else confirm a case?

Feb 27, 2014

expect a good number of technical questions (accounting biased rather than purely finance i.e. valuation).

Feb 27, 2014

Thanks...anymore feedback?

Feb 27, 2014

How did your interview go?

Feb 27, 2014

I'm in a similar situation to CaviarCartel, would also definitely appreciate any other comments on the interview process. Thanks.

Feb 27, 2014

Bump

Feb 27, 2014

they won't ask you to build an LBO on the spot... they will ask you some tech questions and perhaps a case study type thing. They asked me "what all the costs would be if I was opening a pizza parlor in college town and how long would it take for me to break even / become profitable.... etc." That's more just being logical than anything else though.

not sure what round this is, but eventually they'll ask you to take a written math / finance test. Doesn't require much knowledge and is pretty easy, but you have to move as quickly as possible to get a good score.

Feb 27, 2014

Does anyone know how SAs BX typically hires for PE, and how many get return offers?

Feb 27, 2014

first give to the community,
so you might get some feedback

Feb 27, 2014

Europe ? US?

Feb 27, 2014

US

Feb 27, 2014

They give you a written quant test and you don't get to use a calculator - which could spook some people, but it wasn't hard.

Feb 27, 2014

Apparently they expect you to be able to calculate accretion / dilution in your head.

Feb 27, 2014

bump

Feb 27, 2014

How did it go?

Funniest
Feb 27, 2014
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Aug 28, 2013

...yeah, thanks for the tip...

    • 1
Feb 27, 2014
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Feb 27, 2014
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Colourful TV, colourless Life.

Feb 27, 2014
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