BXMA - Absolute Return - Equity Strategy Team - Vice President / Principal

The Blackstone Group L.P.; New York (NY); On-site; USD 175,000 - 200,000; Full time

Benefits offered by this job

Health benefits

Equity incentives

Discretionary bonuses

401(k) plan

Paid time off

Job summary

The Blackstone Group L.P. seeks a VP/Principal for the Equity Strategy Team within BXMA to lead end-to-end diligence for hedge fund investments and manage relationships with fund managers globally.

Analytical and quantitative rigor, strong financial modeling, and excellent communication are essential. Competitive base salary, comprehensive benefits, and potential equity incentives accompany this role.

Qualifications

• 5+ years of relevant work experience (e.g., hedge fund investing, investment banking, equity research, investment management, fund of funds, or related fields).
• Strong analytical and quantitative skills.
• Entrepreneurial, team-oriented mentality.
• Strong communication skills, including writing and presentation skills.
• Excellent attention to detail.
• Good judgement and confidence.
• Strong financial modeling skills and the capability to deconstruct a hedge fund's historic returns.
• A passion for equity markets and a deep understanding of different approaches within the asset class.
• Experience managing ad hoc projects independently and to completion.
• Experience working in a team environment and contributing to a positive team culture.
• Prior programming experience is a plus but not necessary.

Responsibilities

• Managing the end-to-end diligence process for prospective hedge fund investments within the Equity space, including engaging fund managers, completing thematic market research, and underwriting specific investments.
• Performing investment due diligence, including quantitative analysis, detailed financial modeling, scenario and sensitivity analyses, fundamental industry and market research, and creating presentation materials for investment committees.
• Continuous monitoring and evaluation of existing portfolio exposures, including by tracking key positions, themes, exposures, and risk factors, having regular conversations with fund managers, assessing the impact of organizational changes, and continuously challenging/stress-testing investment theses.
• Maintaining and deepening relationships with existing fund managers and partners to ensure strong ongoing communication and alignment.
• Thinking critically about how various market factors impact Equity strategies broadly and contributing recommendations regarding different styles of investing, given the current environment and future expectations.
• Preparing investment committee presentations and portfolio updates.
• Qualitatively and quantitatively analyzing hedge fund strategies and individual managers; preparing manager investment recommendations, detailed data analyses, and portfolio models.
• Modeling various investment strategies, exposures, and their risks.
• Thinking creatively about ways to improve how the team evaluates, monitors, and reports on investments.

Skills

5+ years experience

Analytical skills

Quantitative skills

Communication skills

Attention to detail

Financial modeling

Team oriented

Entrepreneurial

Programming experience (nice to have)

Job description

Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s over $1.3 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Blackstone Multi-Asset Investing (BXMA) manages $109 billion across a diversified set of businesses. We strive to generate attractive risk-adjusted returns for our clients across market cycles. Our strategies include Absolute Return, Multi-Strategy, Total Portfolio Management, and Public Real Assets.

Job Description

BXMA's largest line of business makes LP investments in hedge funds. These investments span the gamut of asset classes and hedge fund strategies. The Equity Strategy Team makes allocation decisions for Long-Short Equity and Event-Driven Equity. This role offers the opportunity to analyze, evaluate, and engage with global hedge fund managers, as well as interface with colleagues across the globe. Our investment process combines the public market and financial analysis characteristic of hedge fund investing with the strategic thinking of private equity. The VP/Principal will be responsible for directly managing investment diligence processes, monitoring existing portfolio investments, and maintaining relationships with current fund managers and partners.

Responsibilities

• Managing the end-to-end diligence process for prospective hedge fund investments within the Equity space, including engaging fund managers, completing thematic market research, and underwriting specific investments.
• Performing investment due diligence, including quantitative analysis, detailed financial modeling, scenario and sensitivity analyses, fundamental industry and market research, and creating presentation materials for investment committees.
• Continuous monitoring and evaluation of existing portfolio exposures, including by tracking key positions, themes, exposures, and risk factors, having regular conversations with fund managers, assessing the impact of organizational changes, and continuously challenging/stress-testing investment theses.
• Maintaining and deepening relationships with existing fund managers and partners to ensure strong ongoing communication and alignment.
• Thinking critically about how various market factors impact Equity strategies broadly and contributing recommendations regarding different styles of investing, given the current environment and future expectations.
• Preparing investment committee presentations and portfolio updates.
• Qualitatively and quantitatively analyzing hedge fund strategies and individual managers; preparing manager investment recommendations, detailed data analyses, and portfolio models.
• Modeling various investment strategies, exposures, and their risks.
• Thinking creatively about ways to improve how the team evaluates, monitors, and reports on investments.

Qualifications

• Blackstone seeks to hire individuals who are highly motivated, diligent, and who have demonstrated excellence in prior endeavors.
• Candidates will also ideally have : 5+ years of relevant work experience (e.g., hedge fund investing, investment banking, equity research, investment management, fund of funds, or related fields).
• Strong analytical and quantitative skills.
• Entrepreneurial, team-oriented mentality.
• Strong communication skills, including demonstrable writing and presentation skills.
• Excellent attention to detail.
• Good judgement and confidence.
• Strong financial modeling skills and the capability to deconstruct a hedge fund's historic returns.
• A passion for equity markets, and a deep understanding of different approaches within the asset class.
• Experience managing ad hoc projects independently and to completion.
• Experience working in a team environment and contributing to a positive team culture.
• Prior programming experience is a plus but not necessary.
• Depending on the position, you may be required to obtain certain securities licenses if you are in a client facing role and/or if you are engaged in the following:

• Attending client meetings where you are discussing Blackstone products and/or client questions;
• Marketing Blackstone funds to new or existing clients;
• Supervising or training securities licensed employees;
• Structuring or creating Blackstone funds/products;
• And Advising on marketing plans prepared by a sales team or developing and/or contributing information for marketing materials.

Note: The above list is not the exhaustive list of activities requiring securities licenses and there may be roles that require review on a case-by-case basis.

Compensation and Benefits

• Expected annual base salary range: $175,000 - $200,000. Actual base salary within that range will be determined by several components including but not limited to the individual's experience, skills, qualifications and job location.
• For roles located outside of the US, please disregard the posted salary bands as these roles will follow a separate compensation process based on local market comparables.
• Additional compensation and benefits offered in connection with the role consist of comprehensive health benefits, including but not limited to medical, dental, vision, and FSA benefits; paid time off; life insurance; 401(k) plan; and discretionary bonuses.
• Certain employees may also be eligible for equity and other incentive compensation at Blackstone’s sole discretion.

Equal Employment Opportunity

Blackstone is committed to providing equal employment opportunities to all employees and applicants for employment without regard to race, color, creed, religion, sex, pregnancy, national origin, ancestry, citizenship status, age, marital or partnership status, sexual orientation, gender identity or expression, disability, genetic predisposition, veteran or military status, status as a victim of domestic violence, a sex offense or stalking, or any other class or status in accordance with applicable federal, state and local laws. This policy applies to all terms and conditions of employment, including but not limited to hiring, placement, promotion, termination, transfer, leave of absence, compensation, and training. All Blackstone employees, including but not limited to recruiting personnel and hiring managers, are required to abide by this policy.

If you need a reasonable accommodation to complete your application, please contact Human Resources at 212-583-5000 (US), [phone] (EMEA) or [phone] (APAC).