Where are BX PE analysts now?

What are Blackstone corporate PE analysts from 5-10 years ago doing now? I have heard that HF is a common exit, but I'm interested to see what others did/if those who went to HF's stayed there.

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  • Research Analyst in HF - EquityHedge
May 31, 2021 - 8:10pm

Off the top of my head... PM at Viking, Partner at Tiger Global, Partner at Greenoaks, Partner at ValueAct, MD at Lone Pine, and several have launched their own, successful hedge fund. More recent BX PE analyst alum at Baupost, Darsana, Addition. 

Source: worked there myself and know many of these people via first and second degree connections. 

  • Associate 3 in PE - Growth
Jun 2, 2021 - 12:50pm

BTO has a smaller sample size, but in principle placement opportunity *shouldn't* differ much from BCP. Exits anecdotally seem slightly more slanted towards other private-side exits (everything from Sequoia to Warburg) and credit/special sits at HFs (DK, York etc). But I'll note that although Tac Ops sounds cool on paper, honestly I think you'd get better generalist investing training at BCP. 

BREP varies a lot - the analyst class there is bigger. There are some who land HFs (Coatue, Citadel) or private-side (Fortress, Apollo), but there are just as many who go to 2nd tier shops (e.g. HIG or something, not bad by any means, just a big step down from BX). In general, the asset management guys don't seem to place well. I also know a few who just straight up left finance

Source: Used to be in Tac Ops.

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  • Research Analyst in HF - EquityHedge
Jun 1, 2021 - 2:03pm

Is this just the HF exits you know of or is it really the case that virtually everyone ended up at a HF instead of pursuing PE further?

Most people during that time period were pursuing HF. Bit of a self selection bias where people who got investing jobs out of school were more likely to pursue more "pure" investing. Certainly a few people went to business school and came back to BX. A couple pursued more entrepreneurial ventures, for example, I know a guy running a family office. 
 

The silver lake analyst exits are largely the same. They have people at D1, Soroban, and Steadfast as well. Those guys all know each other and are friends through Penn or Ivey (+ silver lake). 
 

Can't speak to BX tac opps or real estate. 

  • Analyst 1 in IB - Ind
Jun 2, 2021 - 3:38am

Thank you so much for the insight here. It seems like a lot of these funds are Single Manager / Activist Type. 

Is there a reason why there aren't more BX PE analyst  alums at MM funds like Citadel

Thank you! 

  • Principal in PE - LBOs
Jun 15, 2021 - 3:41am

Thank you so much for the insight here. It seems like a lot of these funds are Single Manager / Activist Type. 

Is there a reason why there aren't more BX PE analyst  alums at MM funds like Citadel

Thank you! 

Same reason you don't see a lot of BX PE guys at doing natgas banking at Jefferies. It's a fine job, but it's not one you take if you got better options.

Jun 3, 2021 - 11:31am

How about BX Credit?

Or GSO, as formerly named

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