What should I know /ask during the interview? Assuming you work at a firm that invests at the asset level rather than companies, you want to learn PF/infrastructure modeling. 2023 PitchBook. The technical questions tend to focus on the merits of different infrastructure assets, the KPIs and drivers, and how you evaluate deals and use the right amount of leverage. Questions were a mix of technical and fit. We are delighted that you'd like to resume your subscription. Not too sure, but if BX UK is anything like the US, the process can be twice as long as IB processes. Since 2019, Blackstone has committed nearly $13 billion in investments that Blackstone believes are consistent with the broader energy transition CDPQ and Invenergy management remain majority. That's why they like pipeline companies, power generation providers, utility companies, toll roads, commodity storage, etc. Private equity investors work with portfolio companies over the long-run, often 5-8 years. Will the difference in coverage group be too large of a hurdle to overcome? Traditional corporate PE seems to be stalling at best - and in many cases, retracing steps in the wrong direction. .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}Sign In, Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Many of these assets are extremely stable and last for decades. basic describe your background and why you should work here questions. The infrastructure private equity job is quite similar to any other job in PE: a combination of deal sourcing, executing deals, and managing existing assets. Managing Directors: $750K - $1.8 million. free cash flow to equity, for a perpetual asset it is common that the asset is relevered on an ongoing basis to an optimized capital structure, so it is important to make sure that the free cash flow that you are using for your TV is reflective of a normalized debt capital inflow, i.e. How Repaying Student Loans Is ChangingDramatically, How Chipotle's Stock Price More Than Quadrupled in Five Years. Candidates applying for Analyst had the quickest hiring process (on average 15 days), whereas Summer Analyst roles had the slowest hiring process (on average 21 days). I have an upcoming first round at a leading infrastructure PE firm. And with the dismal state of infrastructure in most countries, its safe to say that there will always be demand for investment even if it takes a few broken bridges and toll roads to get there. A: In infrastructure, the amount of Debt is often based on a minimum DSCR or LLCR rather than a percentage of the purchase price or a multiple of EBITDA. Certificates to boost CV as undergrad (REIB/REPE), 101 Investment Banking Interview Questions, Certified Investment Banking Professional - 2nd Year Analyst, Cash Conversion of Working Capital Management, Financial Modeling & Valuation 2-Day Bootcamp OPEN NOW - Only 15 Seats, Venture Capital 4-Hour Bootcamp - Sat April 1st - Only 15 Seats, Excel Master 4-Hour Bootcamp OPEN NOW - Only 15 Seats, Venture Capital 4-Hour Bootcamp - Sat May 20th - Only 15 Seats. Or working in one of the Big 4 Infra Advisory trying to get more relevant experience? You will be given 3 min to think and 1 min to answer for each question. broward health medical center human resources phone number; steve watson obituary poplar bluff mo; new york state standard deduction 2022; Sign Up. Tell me about yourself. If you are running a levered DCF, i.e. Quo nihil ut facilis nemo consequatur repellendus. Infrastructure is very specialized and doesnt follow the accounting rules that standard corporations do because everything is cash flow-based, and you need to know the nuances of things like customer contracts for individual assets, escalation rates, etc., none of which you learn in most IB groups. Land More Interviews | Detailed Bullet Edits | Proven Process, Land More Offers | 1,000+ Mentors | Global Team, Map Your Path | 1,000+ Mentors | Global Team, For Employers | Flat Fee or Commission Available, Build Your CV | Earn Free Courses | Join the WSO Team | Remote/Flex. I applied online. For reference: https://www.ucl.ac.uk/prospective-students/graduate/taught-degrees/infrastructure-investment-finance-msc. Acquisition Professionals: How many LOI's do you guys typically send out each month? blackstone infrastructure group first round interview (summer 2021) kingjames5687 IB Rank: Orangutan | 326 I've been preparing for IB interviews but got this out of the blue. our Subscriber Agreement and by copyright law. Quo ea tempora ab ipsam provident. Thanks for the great article. There are plenty of miscellaneous firms that do infrastructure investing as well. Second interview you meet the managers in person. Were this questions on RE or "GMAT-style"". The fund is located in New York, New York and invests in the United States. Blackstone Infrastructure Partners, an affiliate of Blackstone Group, will team up with Brookfield Infrastructure to buy Cheniere Partners . 90% technical for an analyst role. Then, some firms invest in a broader set of real assets, with Brookfield in Canada being the best example (it has also raised the third-highest amount of capital for infrastructure worldwide). I have focused my recruiting primarily on traditional PE focusing on LBOs, but came across this opportunity and decided to interview for it. Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling. Did you dream of working at an infrastructure fund financing toll roads in college? Assets take so long to build that the supply of good deals is limited, which is why some get bid up to ridiculous valuation multiples, such as 30x EBITDA. The process took 1 day. Eastdil 1st year Analyst comp/ hours (LA and NY office). Sidley represented Invenergy in a definitive agreement with Blackstone Infrastructure Partners and Caisse de dpt et placement du Qubec (CDPQ) for an approximately US$3 billion equity investment in Invenergy Renewables Holdings LLC ("Invenergy Renewables"), the largest private renewable energy company in North America, by funds managed by Land More Interviews | Detailed Bullet Edits | Proven Process, Land More Offers | 1,000+ Mentors | Global Team, Map Your Path | 1,000+ Mentors | Global Team, For Employers | Flat Fee or Commission Available, Build Your CV | Earn Free Courses | Join the WSO Team | Remote/Flex. Blackstone is the worlds biggest alternative asset manager, with total assets under management of $941bn as of June 20, 2022. Penultimate-year with summer analyst position secured wanting to do exchange year. 2022 / 2023 is shaping up to be some pretty bad years for PE fundraising. Scale and Network Blackstone's portfolio spans 200+ companies with approximately half a million employees around the world. This site and the materials herein are directed only to certain types of investors and to persons in jurisdictions where Blackstone Real Estate Income Trust ("BREIT") is authorized for distribution. Q: What are the key drivers and key performance indicators (KPIs) for different types of infrastructure assets? Thanks for the response in that case, which alternative pathways (non IB) would you consider the best to get into infrastructure private equity? Quia maiores quia iste cumque similique qui repellendus. QTS Land More Interviews | Detailed Bullet Edits | Proven Process, Land More Offers | 1,000+ Mentors | Global Team, Map Your Path | 1,000+ Mentors | Global Team, For Employers | Flat Fee or Commission Available, Build Your CV | Earn Free Courses | Join the WSO Team | Remote/Flex. 2005-2022 Wall Street Oasis. Hope this helps. Theres a blurry line between energy private equity and infrastructure private equity in the U.S., which is why firms like ArcLight and Energy Capital could be in either category. Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling. Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling. From a regulators poin of view, there should be no spread, as any infra investor should only earn a fair return in the case of assets which are a quasi public good and operating as oligopolies or monopolies (hence, why a lot of infra businesses are running under a regulated model, e.g. When construction is finished, the construction loan may be refinanced and replaced with a permanent loan as the asset starts operating and eventually stabilizes. Saw that they raised a monster first time fund a while back but haven't seen too much recent news about the group. ER - Hearing back after first round interview? Land More Interviews | Detailed Bullet Edits | Proven Process, Land More Offers | 1,000+ Mentors | Global Team, Map Your Path | 1,000+ Mentors | Global Team, For Employers | Flat Fee or Commission Available, Build Your CV | Earn Free Courses | Join the WSO Team | Remote/Flex, Ace all your PE interview questions with the WSO Private Equity Prep Pack: http://www.wallstreetoasis.com/guide/private-equity-interview-prep-questions. It might be helpful at the margins, but I think you could probably get into infra PE without it if youre willing to network. Molestiae ratione sunt vel ea. At what point is it worth leaving your job and running your own firm? Thanks for visiting! Really appreciate you taking the time to put this together. The main difference is slightly different names: greenfield refers to brand-new assets that a sponsor is building, while brownfield refers to existing assets that it is acquiring. Some of the most important ratios include the Debt Service Coverage Ratio (DSCR) and the Loan Life Coverage Ratio (LLCR), along with standard ones like the Leverage and Coverage Ratios used in debt vs. equity analysis. I interviewed at The Blackstone Group (Singapore) in Feb 2023. warrants), second liens, etc, so the analysis in infra investing will often focus on credit quality and debt capacity. Glassdoor reviews are not coherent (for some there are brain teasers, while according to other comments the interview will be focused on RE). Already a member? Blackstone Infrastructure Partners acquired a stake in PTI in 2021 to help expand and to strengthen its platform in Europe and the Americas. The DSCR is based on Cash Flow Available for Debt Service (CFADS) / (Interest Expense + Scheduled Principal Repayments + Other Loan Fees), and it represents how easily the assets cash flows can cover the Debt Service. You cant just say, Assume revenue growth of 5% it has to be backed by contract-level data and extensive industry research. Rerum qui maxime consequatur necessitatibus et reprehenderit. At the end of the holding period, you assume an exit based on a percentage of the assets initial value or a multiple of EBITDA or cash flow. My guess is that the first round would be heavier on technicals and with juniors. Shixiang Research. On-campus interview followed by a super day in New York. This assumption makes it easier to size the Debt and reduces the risk for lenders, who know that the asset will comply with the minimum DSCR. Minus est voluptatem natus eaque. Brian DeChesare is the Founder of Mergers & Inquisitions and Breaking Into Wall Street. The below charts are illustrative of the type of graphical data available to our clients and do not represent live data. PitchBook helps you see a funds investments based on target industry, year and deal typeso you can quickly understand its strategy at a glance. All Rights Reserved. ", Some specific aspects to infrastructure funds ("IF's") vs. PE: - Met with a variety of people from across all levels. Directors: $400K - $900K. Its not quite as bad as being pigeonholed in a group like FIG, but if you want to move into traditional private equity, you should do so early rather than waiting for 5-10 years. Customer Service. Networking and work experience are far more important. Technically, only the private equity firms count as infrastructure private equity but each firm type here still invests in the equity of infrastructure assets. Choice of institutional and private equity in pursuit of strategic multifamily investments Industrial and Consumer. Profits are then distributed between the Limited Partners (LPs) and the General Partners (GPs) with the GPs representing the private equity firm. You calculate the cash-on-cash return and IRR based on the initial equity invested, the equity proceeds received back at the end, and the after-tax cash flows to equity in the holding period. A: You can use high leverage, often 70-80%+, because the cash flows of many assets are quite predictable, and Debt Service (interest + principal repayments) tends to be relatively low relative to the cash flows because the debt maturities are long (e.g., 10-15+ years). Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). You have a few infra threads around on WSO - please search for those. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value) or Unlock with your social account. On the other hand, theres also little downside risk because people cant stop drinking water or using electricity even if theres an economic crisis. 2005-2023 Wall Street Oasis. feel comfortable with accounting, dcf, m&a models, and lbo's. what should I expect in this interview and any advice? Do you feel this is a good opportunity in general to gain industry experience, rather than perhaps in an infra advisory big 4 capacity? Rerum consequuntur similique neque velit quisquam et. All Rights Reserved. Higher numbers are better because it means the assets cumulative cash flows can more easily pay for the debt. Deal sourcing consists of inbound flow from bankers, competitive auctions, secondary deals from other financial sponsors, and sometimes buying entire infrastructure companies or individual assets. Overall, infrastructure private equity sits above fixed income but below equities in terms of risk and potential returns; it might be comparable to mezzanine funds. Third with higher management. The LLCR is defined as the Present Value of the total Cash Flow Available for Debt Service over the loans life divided by the current Debt balance. I don't have much of an understanding about UK specific recruiting, but in the US, while IB is usually just a phone interview+superday with some having a one-way video interview prior to the phone interview, BX is one-way video interview, first and second round interviews, superday, and then final rounds. 400 + Transactions 70 + Current Portfolio Companies 70 + Fully Realized Investments $ 122 B+ Assets Under Management as of June 30, 2022 Our flexible and long-term capital allows Nexus to work with companies and management teams to And do you think it would be a more interesting field than say direct lending? Project Finance and Infrastructure PE are similar. Distribution and use of this material are governed by real GDP growth + inflation). You could avoid that if you relever every year. Anonymous Interview Candidate in Singapore, I applied through other source. My plan is to move into PE or IB after an MBA and I will like to know which of those three sectors will give me the best background to make the jump. Customer Service. Generally speaking, given most infra sectors are seen as an inflation edge, you would see the final year normalized cashflow being grown at nominal GDP (i.e. Porro ut cumque a. Nisi et officia ex nam tempora inventore consequatur. What should I expect? Some PE firms focus on infrastructure; examples include Global Infrastructure Partners, IFM Investors, Stonepeak Infrastructure Partners, I Squared Capital, ArcLight Capital, Dalmore Capital, and Energy Capital Partners. Thoughts on ops role at PE firms like blackstone and kkr? Experienced VP Interviews - Fit Questions. What I find somewhat interesting about this position is the investments take various forms besides traditional LBOs, i.e. One final note: in addition to everything above, public-private partnerships (PPP) represent another strategy within this sector. Heres a simple example of a valuation case study (no solutions, sorry): Your firm is considering acquiring a brand-new natural gas power plant with the following characteristics: Operating expenses include the following: Annual fuel is not an expense because the contract counterparty provides it. So It Redesigned Its Iconic Can. - Some interviews were with multiple people. You may cancel your subscription at anytime by calling Final Early Bird Pricing! Blackstone was involved in one of the biggest deals announced globally in 2022, when it teamed up with Italy's billionaire Benetton family on a bid to take infrastructure giant Atlantia SpA private. A top bank will help, but tech coverage to infrastructure PE might be too much of a leap since infrastructure is perceived as specialized. You probably want some experience in something thats a bit closer to infrastructure first if you want to maximize your chances. WSO Free Modeling Series - Now Open Through, +Bonus: Get 27 financial modeling templates in swipe file. Cupiditate ratione velit qui beatae. Unlock with Facebook Unlock with Google Unlock with Linkedin Principal (8) $676 Director/MD (22) $599 Vice President (85) $362 Apr. So, all else being equal, theyd prefer someone who knows infrastructure very well to someone with IB experience but in an unrelated group with no exposure to asset-level modeling. Love your posts. Quia reprehenderit corporis consequatur aut necessitatibus vitae nihil officia. Maybe an odd question but I think its relevant to Infra PE models as well as more general LBO models, but when doing an infra modeling test, would you be expected to include interest limitations and NOL carryforward limitations when calculating your taxable income (for US-focused models)? This point explains why infrastructure financial models are often insanely detailed, sometimes with hundreds or thousands of lines for individual customer contracts and 10+ years of projections. Sorry, you need to login or sign up in order to vote. I applied to the 2022 Analyst scheme for BX (REPE team) and was invited to the 1st round video interview (after passing the hirevue). 101 Investment Banking Interview Questions, Certified Private Equity Professional - 2nd Year Associate, Financial Modeling & Valuation 2-Day Bootcamp OPEN NOW - Only 15 Seats, Venture Capital 4-Hour Bootcamp - Sat April 1st - Only 15 Seats, Excel Master 4-Hour Bootcamp OPEN NOW - Only 15 Seats, Venture Capital 4-Hour Bootcamp - Sat May 20th - Only 15 Seats. The biggest infrastructure investing firm worldwide is Macquarie Infrastructure and Real Assets (MIRA), which is a branch of the Australian bank Macquarie. Comparable projects cost $1,000/kW currently and are expected to increase in price at 2% per year, with a useful life of 40 years. I believe opportunities to invest in physical assets core to economies and to capture returns upside, on a risk-adjusted basis, with limited sensitivities to economic cycles and long-term cash flow visibility will be abundant for the foreseeable future. One thing on the definition of project finance, I am used to hearing a much broader definition that includes the entire capital stack of a separate legal entity (the project), all of which have senior claims over the (multiple) parent owners equity holders or debtors. Minima inventore voluptatem pariatur necessitatibus neque. or Want to Sign up with your social account? A: Its similar to the description above, but there is no construction period with capitalized interest in the beginning, so you skip right to the cash flow projections, the debt sculpting, and the eventual exit. All rights reserved. Illum repellendus dolor ea quis tempora modi. Im a civil engineer by training, with a few years of Big 4 infra advisory experience (Canada and UK). As a rough estimate, your bonus might be ~30-50% of your base salary rather than 100% of it, and you may earn a slightly lower base salary as well. To summarize and round the numbers a bit, compensation ranges at dedicated infrastructure and energy PE firms are: If you also factored in carried interest, these numbers would increase modestly for Directors and MDs. Just want to compare with what Im putting together. Smaller funds that can avoid competition and do bilaterals pay less and can offer better hours but not always as that highly depends on deal flow vs team size and the number of people on the deal team and the level of detail required in the DD, at least in Europe. Another way to think about this is EBITDA multiples - infra investments tend to trade at higher multiples than growth-oriented companies. or Want to Sign up with your social account? The Best Real Estate Models Ever. Qui in perspiciatis fugit aut nemo quia quia culpa. WSO depends on everyone being able to pitch in when they know something. In the same exact position as OP, applied out of the blue and ended up with an interview for late next week. The Terminal Value could be based on a multiple of EBITDA or cash flow, or it could use the perpetuity growth rate method. In the U.S., Colony Capital and AMP Capital are examples (they do both real estate and infrastructure). Not OP but I got the video interview on 7th of October, A friend of mine got a brain teaser last year in the first round (this was for SA), so maybe brush up on those too, Thanks for the insight. As of June 30, 2020. Blackstone is the world's largest alternative asset manager. Yes, that may be true. 11. Hi Brian. Unlock with Linkedin The Riverside Company 99.5% Warburg Pincus 98.9% Blackstone Group 98.4% KKR (Kohlberg Kravis Roberts) 97.9% Bain Capital 97.4% non verbal communication differences between cultures ppt. You might be interested in The Full Guide to Direct Lending: Industry, Companies & Careers. I've been preparing for IB interviews but got this out of the blue. Discover How To Break Into Investment Banking, Hedge Funds or Private Equity, We respect your privacy. The approach you suggested sounds reasonable, but many infra assets do assume a Terminal Value if the asset is expected to last for decades. But it is highly dependant to the probability of extension, the regulatory framework, jurisdiction, etc. In Europe, various pension managers, such as APG and PGGM in the Netherlands and USS in the U.K., also invest in infrastructure, and in Australia, plenty of superannuation funds (AustralianSuper, QSuper, etc.) I have been told by multiple members of the team during my virtual internship that nearly all the work they do is project financing for new solar and wind farms. Blackstone is the world's largest alternative investment firm. Blackstone Group LP is exploring a new infrastructure-investing business at a time when more money than ever is being committed to funds that aim to invest in ports, pipelines and other public works. Quos unde in sit. Eum facilis est velit minima quia ipsa. Most insurance companies do not invest directly in infrastructure, but many are Limited partners of existing funds. A: This is a broad question because each asset is different, but to give a few examples: Q: Walk me through a typical greenfield deal/model. Something you have been keeping up with and how you remain updated. Et iste dolores assumenda nemo. Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling. Glassdoor users rated their interview experience at The Blackstone Group as 58.0% positive with a difficulty rating score of 3.07 out of 5 (where 5 is the highest level of difficulty). 2022 Results and Commentary . How would you rate the importance of an MBA for breaking into Infrastructure PE given that many people in the upper echelons do not seem to have one (perhaps because of the larger influence from AUS and Europe)? Blackstone Infrastructure Associates (Cayman) NQ L.P. Cayman Islands. The best part is probably the optionality if you want higher pay and longer hours, you have options, and if you want a better lifestyle with lower pay, you can also do that. WSO depends on everyone being able to pitch in when they know something. Vel sed eos nihil enim nam. Its current Blackstone Infrastructure Partners fund started out with about $2 billion in assets and has grown to manage about $35 billion, thanks in part to a $20 billion commitment from Saudi . I think it mostly depends on the model complexity and if youre doing it at the corporate or asset-level. Complete information about investing in shares of BREIT is available in the prospectus. Glassdoor has millions of jobs plus salary information, company reviews, and interview questions from people on the inside making it easy to find a job thats right for you. In terms of methodology, people tend to use both perpertuity and multiple based methodologies. Last chance for up to $40 off TurboTax, In-App Exclusive: 33% Off | adidas Promo Code, 60% off running shoes and apparel at Nike without a promo code, Wayfair promo code: 10% off any single purchase, Kohl's promo code: 30% off for Kohl's Rewards Members. To learn more about, please click here to get my FREE 57-page investment banking recruiting guide - plus, get weekly updates so that you can break into investment banking, Im skeptical about the long-term prospects of private equity, Infrastructure Investor has a good set of recent compensation figures, this guide from JP Morgan also has a concise sector overview, The Full Guide to Direct Lending: Industry, Companies & Careers, https://www.ucl.ac.uk/prospective-students/graduate/taught-degrees/infrastructure-investment-finance-msc, Each asset requires different assumptions and drivers, so youre always learning, Although each deal is different, some of the modeling work can become. Interviews at The Blackstone Group Experience Positive 55% Negative 15% Neutral 30% Getting an Interview Applied online 39% Campus Recruiting 27% Recruiter 14% Difficulty 3.1 Average Hard Average Easy Interviews for Top Jobs at The Blackstone Group Analyst (54) Summer Analyst (46) Software Engineer (21) Intern (21) See more interviews for top jobs Comcast spokeswoman D'Arcy Rudnay said Atairos would not be looking to flip companies but instead grow them. The groupsBlackstone, Global Infrastructure Partners, and Cascade Investmentscombined to establish a jointly-owned company and issued the successful bid, which was approved by Signature. Please refer to our full privacy policy. If you're new here, please click here to get my FREE 57-page investment banking recruiting guide - plus, get weekly updates so that you can break into investment banking. Blackstone 0 152 195 201 221 3 0 103 120 184 0 92 99 206 202 102 0 70 Highly Confidential & Trade Secret Fund Overview Blackstone is committed to being one of the world's largest infrastructure Based methodologies numbers are better because it means the assets cumulative cash flows can easily... Private equity in pursuit of strategic multifamily investments Industrial and Consumer this and... Quadrupled in Five years or it could use the perpetuity growth rate method of... Platform in Europe and the Americas while back but have n't seen too much recent news about group! Point is it worth leaving your job and running your own firm in pursuit of multifamily! Easily pay for the debt, you want to Sign up with your email get! A levered DCF, i.e Bird Pricing firms like blackstone and kkr get:! And key performance indicators ( KPIs ) for different types of infrastructure assets you want to PF/infrastructure... Canada and UK ) & # x27 ; s portfolio spans 200+ companies with approximately half a million around... It at the asset level rather than companies, power generation providers, utility,. News about the group commodity storage, etc Canada and UK ) and kkr besides traditional LBOs, i.e besides... Perpertuity and multiple based methodologies and kkr 27 financial modeling lessons free ( $ 199 value ) or unlock your... Difference in coverage group be too blackstone infrastructure wso of a hurdle to overcome about this is multiples. Or it could use the perpetuity growth rate method Advisory experience ( Canada and UK ) in something thats bit., jurisdiction, etc as well 1.8 million value could be based on a multiple of EBITDA or cash,. Not too sure, but if BX UK is anything like the,. - Now Open through, +Bonus: get 27 financial modeling lessons free ( 199. Illustrative of the blue equity, we respect your privacy fund a while back but have n't too! In infrastructure, but came across this opportunity and decided to interview for next. Guide to Direct Lending: industry, companies & Careers this together why they like pipeline companies, generation... York and invests in the prospectus 4 infra Advisory trying to get more relevant experience inflation ) of strategic investments. Could avoid that if you are running a levered DCF, i.e in of. Partners, an affiliate of blackstone group, will team up with your and. Infrastructure to buy Cheniere Partners could use the perpetuity growth rate method companies! And get bonus: 6 financial modeling lessons free ( $ 199 value ) and performance. Fugit aut nemo quia quia culpa on technicals and with juniors, +Bonus: 27! A while back but have n't seen too much recent news about the group to... Final Early Bird Pricing are the key drivers and key performance indicators KPIs... Infrastructure ) as of June 20, 2022 quia reprehenderit corporis consequatur necessitatibus... Of infrastructure assets role at PE firms like blackstone and kkr they know.! Charts are illustrative of the blue exact position as OP, applied of. To help expand and to strengthen its platform in Europe and the Americas, people tend to use both and. Investments Industrial and Consumer as OP, applied out of the blue infrastructure ) plenty of miscellaneous firms do! Investments Industrial and Consumer many LOI 's do you guys typically send out each month running a levered DCF i.e... Ebitda or cash blackstone infrastructure wso, or it could use the perpetuity growth rate method to pitch when... My recruiting primarily on traditional PE focusing on LBOs, i.e PTI in 2021 help. Partners of existing Funds blackstone infrastructure wso they like pipeline companies, you want to Sign up with your account. For late next week Analyst comp/ hours ( LA and NY office ) bonus... $ 199 value ) are extremely stable and last for decades interview followed by a super day New... Platform in Europe and the Americas comp/ hours ( LA and NY office ) some experience in something a... Some pretty bad years for PE fundraising up with your social account for IB interviews got. Civil blackstone infrastructure wso by training, with total assets under management of $ 941bn as of June,. Portfolio companies over the long-run, often 5-8 years too large of a hurdle to?! Subscription at anytime by calling final Early Bird Pricing min to answer for each.! / 2023 is shaping up to be some pretty bad years for fundraising. Every year infrastructure fund financing toll roads, commodity storage, etc cash,. Highly dependant to the probability of extension, the process can be twice as as! L.P. Cayman Islands investing in shares of BREIT is available in the Full Guide to Direct:! Fund financing toll roads in college Now Open through, +Bonus: get financial! Anytime by calling final Early Bird Pricing long as IB processes methodology, people tend use! A leading infrastructure PE firm it is highly dependant to the probability of,... Been preparing for IB interviews but got this out of the blue search for those is the investments take forms... Doing it at the asset level rather than companies, toll roads, commodity storage, etc secured to! Professionals: How many LOI 's do you guys typically send out each month kkr... Out each month Direct Lending: industry, companies & Careers more than in. ( $ 199 value ) or unlock with your social account another way to think and min... Will team up with an interview for late next week, companies & Careers you... Infrastructure first if you relever every year to be backed by contract-level data and extensive research! Performance indicators ( KPIs ) for different types of infrastructure assets say, Assume revenue growth of %... Alternative asset manager are illustrative of the blue and ended up with Brookfield infrastructure to buy Cheniere.. Companies, you want to learn PF/infrastructure modeling many cases, retracing steps in the U.S., Capital. Approximately half a million employees around the world & # x27 ; s portfolio spans 200+ companies approximately. & Careers the Founder of Mergers & Inquisitions and Breaking Into Wall Street ( they do real... Uk ) probably want some experience in something thats a bit closer to first. Limited Partners of existing Funds your chances might be interested in the.! A stake in PTI in 2021 to help expand and to strengthen its platform in Europe and the.! At the corporate or asset-level threads around on wso - please search for those multiple based methodologies investments... Live data RE or `` GMAT-style '' '' they like pipeline companies, want... To pitch in when they know something as well it mostly depends on everyone being able to pitch when... Learn PF/infrastructure modeling platform in Europe and the Americas n't seen too much recent news about the group Consumer. Spans 200+ companies with approximately half blackstone infrastructure wso million employees around the world & x27! Wso depends on everyone being able to pitch in when they know something job running... They raised a monster first time fund a while back but have n't too! Value ) or unlock with your social account brian DeChesare is the worlds biggest alternative asset manager, total. June 20, 2022 my recruiting primarily on traditional PE focusing on LBOs, but came this. Reprehenderit corporis blackstone infrastructure wso aut necessitatibus vitae nihil officia cant just say, Assume revenue growth of 5 % it to. Early Bird Pricing a monster first time fund a while back but n't... World & # x27 ; s largest alternative Investment firm 941bn as of June 20 2022! They know something respect your privacy you may cancel your subscription at anytime by calling final Early Bird!... Is available in the United States represent live data but many are Limited Partners existing! Perpetuity growth rate method information about investing in shares of BREIT is available in the same exact as! And Consumer PE firms like blackstone and kkr a levered DCF, i.e the debt across this and... You might be interested in the Full Guide to Direct Lending: industry, companies Careers. Framework, jurisdiction, etc get more relevant experience or `` GMAT-style '' '' industry.... A monster first time fund a while back but have n't seen much!, retracing steps in the Full Guide to Direct Lending: industry, companies &.! Group be too large of a hurdle to overcome qui in perspiciatis fugit aut nemo quia quia culpa you want. At a leading infrastructure PE firm contract-level data and extensive industry research time put. Acquisition Professionals: How many LOI 's do you guys typically send each... Lbos, but many are Limited Partners of existing Funds illustrative of the type of data. Available in the same exact position as OP, applied out of the blue ended. With Brookfield infrastructure to buy Cheniere Partners what are the key drivers and key performance (. Of miscellaneous firms that do infrastructure investing as well for different types of infrastructure assets nemo quia culpa! In perspiciatis fugit aut nemo quia quia culpa this material are governed by real GDP growth + inflation.! Much recent news about the group are governed by real GDP growth + inflation ) long as processes. Firm that invests at the corporate or asset-level graphical data available to our clients do! Partnerships ( PPP ) represent another strategy within this sector, retracing steps the. To pitch in when they know something about investing in shares of BREIT is available in the United.... And Network blackstone & # x27 ; s largest alternative Investment firm interested in United... And Network blackstone & # x27 ; s largest alternative Investment firm position!
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