Information on Blackstone Tactical Opportunities

letgoofhope31's picture
Rank: Chimp | 10

I'm interviewing for a job with Blackstone TacOpps next month. Does anybody have any info on what they're doing or what an interview with them might look like? Are they a good group?

What is Blackstone Tactical Opportunities?

Blackstone Tactical Opportunities was created as an opportunity to invest in 'alternative assets'. They pursue investments in areas, for example, real estate, not normally pursued by other Blackstone Divisions. It works across their different business units, drawing from the many networks and intellectual capital of Blackstone Group. Essentially they invest in non-traditional avenues (BCP, GSO etc) while spreading the acquired knowledge of such investments across the firm.

Read about Blackstone Tactical Opperations' mandate in the image below.

APAE - Private Equity Partner:

TOG can be viewed as a catch-all of sorts. It essentially answers the question of "What do we do with investment ideas that we feel are still compelling even though they may fall beyond our investment mandate or outside our comfort levels for this fund?" (where 'this fund' = Strategic Partners, GSO, REPE, etc.).

I've heard mixed things. One guy said it was intellectually stimulating work (broad range of investment opportunities to review, no day was the same, developing a varied skill-set), and another said it felt like bitch work cleaning up the leftovers that other funds passed along to the team in TOG.

Those are my only two datapoints. I'm still not clear on what split there is between actually sourcing ideas that fall outside other funds' parameters vs. reviewing and not/investing in deals that were sourced by another Blackstone fund, but I hope this is helpful.

Blackstone Tactical Opportunities Careers

What sort of people work in Blackstone's Tactical Opportunities? Blackstone Tactical Opportunities works on a global scale and its senior team has been put together by drawing talent from across the other Blackstone business lines. This generates an interesting and eclectic skill set which is appropriate considering the sorts of opportunities they pursue.

Listen to David Blitzer, head of Blackstone Tactical Opportunities, describe what they do.

When preparing for an interview, consider that they will likely have technical questions for you. They will want to see that you have an understanding of 'alternative assets'. Also, make sure you are brushed up on the finer points of some of these assets, real estate for example.

You can read more about Blackstone Group on the Wall Street Oasis Company Database

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Comments (36)

Feb 22, 2014

Awesome group. Would go there over Blackstone capital

Feb 22, 2014

Congrats on the interview. Curious, what's your background?

Feb 23, 2014

@lewiz, had a couple of internships at GS/MS out of school, they're hiring for an Analyst and an Associate right now so feel free to apply.
@chemicals, what's Blackstone capital? (sorry if this is a dumb question) and what made you think tactical was awesome?

Feb 23, 2014

They invest in very illiquid things that BX PE and/or REPE do not want to touch. Good group and very interesting work, but nichey.

Feb 23, 2014

Its basically their special situations group.

Feb 23, 2014

^ This.

Blackstone Capital is their flagship global, private equity fund.

The HBS guys have MAD SWAGGER. They frequently wear their class jackets to boston bars, strutting and acting like they own the joint. They just ooze success, confidence, swagger, basically attributes of alpha males.

Feb 23, 2014

I wouldn't describe it as just a special sit group. It's much more than that. They have an incredibly broad mandate to look at any investment opportunity. Blitzer's idea behind the group was to look at things that fall outside the mandates BCP, REPE, BEP, GSO, etc.

Feb 23, 2014

Interesting. Seems they also raised 5B

Feb 23, 2014

https://ch.tbe.taleo.net/CH08/ats/careers/searchRe...

Quick search shows 0 positions for Tac Opps

Feb 24, 2014

Check their direct employment site chief, they're hiring an analyst and associate.
Anybody have any thoughts on what compensation might look like for analysts either in tacopps or across the board for 1st years?

Jul 29, 2014

What did you mean by "direct employment site"/

Feb 28, 2014

You can find a few of their deals online - contact I have there said focus on deal thought process and information dynamics, I know they also leverage heavily off the Blackstone infrastructure for deal flow.
I don't get how you found an opening, I don't see anything on their career site only a brief description of the position at the bottom of TOPs summary page.

DLJ Analyst Class '96

Feb 28, 2014

I know an hbs guy who interned in that group last summer. From what he described, it seemed like it has wide investment mandates ranging from CDO tranches to spectrum. He said he wasn't going to go back (not sure if he was even given an offer to) because he wanted to focus on traditional HFs and what they did was too weird and not liquid enough.

Mar 6, 2014

@"letgoofhope31" how'd it go?

Best Response
Mar 8, 2014

TOG can be viewed as a catch-all of sorts. It essentially answers the question of "What do we do with investment ideas that we feel are still compelling even though they may fall beyond our investment mandate or outside our comfort levels for this fund?" (where 'this fund' = Strategic Partners, GSO, REPE, etc.).

I've heard mixed things. One guy said it was intellectually stimulating work (broad range of investment opportunities to review, no day was the same, developing a varied skill-set), and another said it felt like bitch work cleaning up the leftovers that other funds passed along to the team in TOG.

Those are my only two datapoints. I'm still not clear on what split there is between actually sourcing ideas that fall outside other funds' parameters vs. reviewing and not/investing in deals that were sourced by another Blackstone fund, but I hope this is helpful.

    • 4
Mar 9, 2014

I have nothing valuable to contribute here, but just want to say thanks for being one of the most consistently quality posters on this site. Really helps a lot.

dollas

Jul 30, 2014

One of the newest initiatives at BX headed by David Blitzer. As others have mentioned, they'll evaluate any investments that fall outside of BX's traditional investment mandates (i.e. BCP, BREP, GSO, etc.); to clarify this further, unsuitability may be driven by return profile (aiming to blend to high teen gross IRRs using portfolio construction approach), duration, size, liquidity, etc. They play globally, in almost any asset class and across the capital structure. Senior team has been woven together by bringing in talent from other BX business lines. Premise of the group stems from synergies inherently created by information flow across BX's different businesses. Unfortunately no insight into the interview process.

Jul 30, 2014

In the unlikely event that you didn't google it.
http://www.blackstone.com/our-businesses/aam/tacti...
It seems like a very interesting opportunity though. I'd imagine there would be some technical questions but due to the variety of asset classes the group invests in, I can't see how they could be too detailed.

Jul 30, 2014

I did check out their website/google, but thank you for the response. It definitely seems like a really cool opportunity, I've just been having a hard time finding information on the group which is why I came here.

Jul 30, 2014

it's relatively new. guessing it's investments that don't fit into their other business lines. probably a very interesting & unique opportunity.

BX knows how to invest - definitely worth a serious look

Jul 30, 2014

this group launched like less than month ago saw it on finalternatives, such a sexy group man you better kill, and maybe update thread with interview specifics?

Jul 30, 2014

How did you get the opportunity to interview there? I imagine through contacts, as I don't believe they are recruiting through a structured process.

    • 1
Jul 30, 2014

Hey MBBust any update on how the process went?

Jul 30, 2014

How did the interview go?

Jul 30, 2014

Updates on this group?

Jul 30, 2014

Any updates on this group or anyone who applied for the opening for it that recently closed on the BX careers page?

Jul 30, 2014

BX's youtube channel got something.

"I do not think that there is any other quality so essential to success of any kind as the quality of perseverance. It overcomes almost everything, even nature."

Jul 30, 2014

Here is the link to the BX Tactical Opportunities informational video: https://www.youtube.com/watch?v=PxBNT7p0VIc

May 25, 2018

anybody know what comp is for analysts at blackstone, either for Tac opps or for RE, PE, GSO etc.??? curious to know how it stacks up against banking

Oct 25, 2018
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Mar 7, 2019