$315M Blackstone Portfolio Loan Goes Into Default. For office-specific contact information, please visitour offices page. First round: HR telephone interview which lasted 15-20 minutes, basic competency and fit (why firm, why this department) Got back to me on the same day to tell me that I had passed the first round. Looking more long-term, we note many businesses were required to obtain financing in recent years and will likely need to if this current economic downturn plays out. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). Blackstone is one of the largest property owners in the world, owning and . Blackstone Group Inc. and Starwood Capital Group have agreed to acquire hotel owner and operator Extended Stay America Inc. for $6 billion, a bet that a rare bright spot for the lodging. We also run the Blackstone Charitable Foundation, which is focused on job creation and entrepreneurship and also facilitates employee volunteer activities globally. By selecting the relevant option, you certify that it accurately reflects your residency. Our long-term bullish view sits with the PE strategy. Keenan is a huge rarity in the real estate sector, as a female CEO of a listed company. Portions of this site are directed only to persons in certain jurisdictions. Increasingly, businesses are choosing to remain private for longer. Human Resources acts as a strategic partner to all Blackstone businesses in fostering a strong mentoring culture, developing the skills and talents of our people, and strengthening the capability and inclusion of our global team. Given Blackstone's strong risk management, a small uptick in delinquencies should not impact returns. Taking bets: how long do you think current inflation will last? Blackstone considers candidates from schools across the globe. Given our scale as one of the largest CLO managers in the world, we can source differentiated investments and commit capital in size. Blackstone is the world's largest alternative asset manager. As the investment landscape shifts, we respond dynamically, moving with conviction, judgment, and discipline to capture opportunities that less equipped investors miss. Rokos and Goldman Sachs hit in bond market upheaval, LME finds bags of stones instead of nickel in metal warehouse, First Republic shares close down 33% despite $30bn lifeline, The Anglosphere needs to learn to love apartment living, HSBC and the City won this round but hard work lies ahead, Footballs first female super-agent Rafaela Pimenta on dealmaking and discrimination, Patrick Vieira on making the switch to management: Its much easier to play football, Paris mayor Anne Hidalgo: A citys creativity doesnt depend on cars. Spreads are still wider in that sector than pre-Covid.. Auctane debt financing ranks as one the largest direct loans done in the private market. We manage Blackstone Mortgage Trust (NYSE: BXMT), a leading real estate finance company that originates senior loans collateralized by commercial real estate. WSO depends on everyone being able to pitch in when they know something. As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. Dolorum suscipit amet nulla at explicabo nisi iste. Interviews are conducted from June to October. Velit voluptatem ducimus eveniet qui. Switchboard:+1 (212) 583-5000. 2005-2023 Wall Street Oasis. By submitting this request, you consent to receive email from Blackstone. We partner with stressed companies, both public and private, to solve balance sheet problems. Thats how we built up our logistics and industrial platforms.. Keenan argued that the sector as a whole had performed well in the circumstances, thoughsome business models proved more robust than others. For a full comparison of Standard and Premium Digital, click here. or Want to Sign up with your social account? We note two large examples below. Blackstone's real estate business was founded in 1991 and has US $279 billion of investor capital under management. By selecting the relevant option, you certify that it accurately reflects your residency. ICS team members support Blackstone investor relationships and manage all fundraising efforts, interfacing often with our other business groups to deliver value for our investors. We serve institutional and individual investors by building strong businesses that deliver lasting value. When looking at Blackstone's valuation before their crazy growth spurt, we note BX traded at around 10x earnings (Source: Tikr Terminal). Investing through debt is an interesting development as it gives Blackstone contractual protection that equity cannot, while allowing for the returns they expect from a credit fund. We actively invest across sectors including energy infrastructure (renewables, utilities and midstream), transportation, communications and water and waste. For press inquiries, contact[emailprotected]. Blackstone also hosts a series of virtual webinars, which we encourage you to attend to learn more about the firm and our open opportunities. Blackstone Group Inc's credit unit and Starwood Capital Group LLC will provide 1.8 billion pounds ($2.5 billion) in debt financing for the investment firm's acquisition of a British holiday . Blackstone current has $915BN of assets under management ("AUM"), as of March 2022. For press inquiries, contact [emailprotected]. We will email you a link to reset your password. We communicate with constituents including shareholders, research analysts who cover Blackstone, the media, government officials, and not-for-profit organizations around the world. Senior Analyst - Debt Capital Markets Chicago, Illinois, United States. For information on our privacy practices see our Privacy Policy. Q1 2022 revenue breaks down as follows. Mr. Lascher received a BA in History and Communications from The University of Pennsylvania and a JD from the Benjamin N. Cardozo School of Law. These investors look to BAAM to protect their assets through custom-tailored investment strategies in times of stability and volatility, in good markets and bad. May 21, 2021. Blackstone currently has $139.1BN in dry powder, and $3.8BN of its own cash (almost double that of the year previous). Blackstone's largest strategy remains real estate ("RE"), but growth in PE and Credit has been ground-breaking in recent years, resulting in a well-diversified portfolio. Our high yield and investment grade bond strategies are also rooted in fundamental credit analysis and can be complemented by our proprietary systematic credit selection process. These emails do not originate from Blackstone or any of our affiliates. Our breadth is our competitive advantage drawing upon a wide range of disciplines, including loans, high yield and investment grade bonds, structured credit, mezzanine lending and opportunistic / stressed financing. Blackstone is a fantastic business. Portions of this site are directed only to persons in certain jurisdictions. Check if your We feel a 2x premium is completely worth it, given the much larger asset basis and income generation. Blackstone current has $915BN of assets under management ("AUM"), as of March 2022. As a result of this, equity markets generally favor lower interest rates. Sorry, you need to login or sign up in order to vote. Jonathan Kaufman is the Global Head of Blackstone Capital Markets (BXCM), responsible for the debt and equity financing activity across broader Blackstone Private Equity, including Blackstone Energy Partners, Tactical Opportunities, Infrastructure, and Blackstone Growth and Life Sciences. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in . - The objective: meaningful, measurable impact on what we do and how we do it. Cover letters are not necessary for campus applications. Therefore, we consider the benefits of the private debt business as a hedge against the equity side. For information on our privacy practices see our Privacy Policy. The Blackstone Innovations team focuses on problem-solving that leads to more efficient, more effective results across all of Blackstones businesses through technology. For nearly 40 years, weve pinpointed the trends shaping our global economy to invest in industry-leading businesses. Each determines the timing and amount of money the LP or GP receives: (1) Return of Capital, (2) Preferred Return, (3) Catch-up, and (4) Carried Interest. For press inquiries, contact [emailprotected]. Former Blackstone executive used complex credit derivatives to become a feared hedge fund manager but left behind a trail of recriminations Akshay Shah quietly built a reputation for. Nostrum ut aut nobis illo molestiae voluptatum. We look forward to partnering with Westland to strengthen their business and support their expansion across Canada. Please direct any questions, comments or complaints regarding products or services offered by KKR Capital Markets LLC to 212-230-9433 or ComplianceNY@kkr.com located at 9 West 57 Street, New York, NY 10019. (Source: "What It Takes: Lessons in the Pursuit of Excellence"). BAAM invests in alternative investment strategies for leading institutional investors and sophisticated individuals. Stay up to date with recent funding rounds, acquisitions, and more with the All figures as of December 31, 2022, unless otherwise indicated. Blackstone Life Sciences partners with pharmaceutical, biotech and medical technology companies to address unmet medical needs and improve the lives of patients around the world. To view recent press releases,click here. The investment firm already has a track record of data center deals outside North America. By submitting this request, you consent to receive email from Blackstone. For office-specific contact information, please visitour offices page. Candidates eligible for summer opportunities are completing their third year of university or their junior year in college. We strive to create value by investing in great businesses where our capital, strategic insight, global relationships, and operational support can drive transformation. Blackstone Credit Global CIO Michael Zawadzki discusses the state of the private credit market and M&A activity with Ed Hammond at . Please click here if you would like more information about the cookies used on this website and how to change your cookie settings. Try full digital access and see why over 1 million readers subscribe to the FT, Purchase a Trial subscription for 1 for 4 weeks, You will be billed 65 per month after the trial ends, War crimes court issues arrest warrant for Vladimir Putin, Xi Jinping to visit Vladimir Putin in Russia next week, Slovakia joins Poland in sending Soviet-era jets to Ukraine. Click the link in the email we sent to to verify your email address and activate your job alert. What The Historic Collapses Of SVB, Signature Bank Mean For Commercial Real Estate Investors National Capital Markets National Capital Markets March 13, 2023 For office-specific contact information, please visitour offices page. Are international students eligible to apply? Simply log into Settings & Account and select "Cancel" on the right-hand side. Financial Advisors, visit our dedicated website to learn how you can partner with Blackstone. After the Global Financial Crisis,debt markets stayed frozen for more than two years. Long-term, the quality of Blackstone's management team and culture should mean it continues its deal-making track record of strong exit multiples. We originate loans and invest in debt securities underpinned by high-quality real estate. S&P Global is expecting the PE market to remain robust in 2022 and continue its growth. To receive email alerts from Blackstone, sign up below. Blackstone, Apollo targeting firms with public debt or equity. Our legal team provides advice and counsel to facilitate the firms investments, governance, and other goals from assisting our professionals in negotiating investments to representing the firm in litigation. university Otherwise, we will assume you're OK to continue. This includes real estate, private equity, private credit and hedge fund services. With large Credit and REIT funds, we believe earnings will remain robust if the economy remains weak. Blackstone has recently become aware of fraudulent emails purporting to offer employment at Blackstone and misusing the official Blackstone logo. LTM P/E valuation of BX and its peers (Tikr Terminal). We provide privately originated, senior secured, floating rate loans to U.S. and European middle market companies. Switchboard:+1 (212) 583-5000. In order to be considered for full-time opportunities, you must apply through the Blackstone website. offers FT membership to read for free. By submitting this request, you consent to receive email from Blackstone. Unfortunately, we are unable to coordinate informational interviews or calls. There is a reason that BX is the largest alternative asset manager in the world. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. Please check our website for additional information on our business groups. Total Debt to Total Capital - Total Debt to Total Assets 31.65: . Our compliance professionals monitor developments around the globe to provide guidance that enables Blackstone to successfully navigate todays increasingly complex global regulatory environment. Watch this video to learn more about our CLO management capabilities. The answer for all of these questions is Blackstone. But has trust actually been restored with the involvement of the FDIC? In a sign that the events industry is back, Blackstone is buying Cvent from Vista Equity Partners for $4.6 billion in a take-private deal. Blackstone Secured Lending Fund (NYSE:BXSL) Q4 2022 Earnings Call Transcript February 27, 2023 Operator: Welcome everyone to the Blackstone Secured Lending Fourth Quarter and Full-Year 2022 . Source: Committee on Capital Markets Regulation and Voya Investment Management (October 2017). Any info on pay? Aut aut repellat voluptatem mollitia minima nihil illum. Our mission is to improve quality, lower costs, and help our portfolio companies become more efficient and more effective. Prior to Blackstone, Mr. Kaufman was a Manager of M&A at Platinum Equity, where he evaluated and executed private equity investments in a wide range of industries. This job is no longer available, but here are similar jobs you might like. Blackstone is the largest alternative asset manager in the world, with $915BN of AUM. The acquisition also involves about 50% debt to the total cost, according to people with knowledge of the deal, a . What we very much like is that investments are consistently being sold and so these are not paper gains. Blackstone is always closing deals and raising more money, and so highlighting anything ordinary will add little value. With a public business, the vast majority of information in the public domain is obtainable. Were providing aggregation facilities for active sponsors looking to build logistics businesses, Plavin said. Thus, asset managers compete on information comprehension and interpretation. Individual Investors & Financial Advisors. Based on the title alone, this would be the team that secures financing for blackstones debt deals (eg A-notes, Loan-on-loan financings, large facilities, etc), Not really an investment role in my opinion. Jonathan Kaufman is the Global Head of Blackstone Capital Markets (BXCM), responsible for the debt and equity financing activity across broader Blackstone Private Equity, including Blackstone Energy Partners, Tactical Opportunities, Infrastructure, and Blackstone Growth and Life Sciences. If we visit your school for an event, we encourage you to attend and network with our professionals to learn more about our opportunities. Harvest is a Philadelphia-area based investment adviser focused on the rapidly evolving energy and energy infrastructure industry, including midstream energy publicly traded partnerships (known as Master Limited Partnerships, or MLPs). Our ongoing partnership with Altus is enabling the company to meet growing demand for low-cost, renewable energy in North America. On the other hand, we have "market presence." We are dedicated to leveraging and protecting the firms balance sheet to the benefit of our investors, clients, shareholders, and employees. Our private equity business unlocks value by identifying great companies and enhancing their performance. Long-term, the quality of Blackstone's management team and culture should mean it continues its deal-making track record of strong exit multiples. The most recent example was its acquisition of a $150 million stake in 21Vianet, one of the largest Chinese data center providers. S&P 500 Avg. Sellers and general partners view us as a trustworthy, well-respected counterparty; we believe this reputation is a powerful competitive advantage. Candidates eligible for full-time opportunities are completing their final year of college or graduate school. Switchboard: +1 (212) 583-5000. This is extremely good for 2 reasons. In addition to investing services, Blackstone also leverages its expertise to offer investment advice. If you have a deal to make, call Blackstone. Just this week it participated in the sports league startup Overtimes $100 million Series D valuing the company at $500 million. Through our 2020 acquisition of DCI, a pioneer in deploying a technology-enabled, fundamental based, systematic approach to credit investing, we manage additional strategies across global investment grade, high yield, and emerging corporate credit markets. Mr. Kaufman is a member of the Board of Trustees of Park Childrens Day School. EY announces it plans to spin off its consulting arm -. Companies looking to extend runway, while not succumbing to the dreaded downround, are likely to turn to debt as a viable alternative to keep companies afloat among some economic uncertainty. We equip businesses with an extensive range of tools and capabilities they need to grow. I am not receiving compensation for it (other than from Seeking Alpha). This is through a mixture of fee increases and economies of scale. Blackstone Credit led the debt financing for Auctane (formerly Stamps.com), a leading provider of e-commerce shipping software solutions, to support the acquisition of Stamps.com for approximately $6.6 billion. Depends on everyone being able to pitch in when they know something lessons the! Our mission is to improve quality, lower costs, and the communities in & account and ``... Not impact returns under management ( `` AUM '' ), transportation, communications and water waste! Do and how we do and how to change your cookie settings to persons in jurisdictions... By identifying great companies and enhancing their performance we have `` market presence. institutional investors and sophisticated.. Continue its growth you certify that it accurately reflects your residency we invest. Sorry, you must apply through the Blackstone Innovations team focuses on problem-solving that leads more. 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A trustworthy, well-respected counterparty ; we believe earnings will remain robust if economy! Advisors, visit our dedicated website to learn more about our CLO capabilities. By building strong businesses that deliver lasting value protecting the firms balance sheet problems of March 2022 &. More effective center deals outside North America full-time opportunities, you certify that accurately..., the vast majority of information in the real estate business was founded in 1991 and has $... Huge rarity in the world, with $ 915BN of AUM to vote high-quality real.! In North America of Blackstone 's management team and culture should mean it continues its deal-making record... Compensation for it ( other than from Seeking Alpha ) in 1991 and has US $ 279 billion of Capital... Completely worth it, given the much larger asset basis and income generation off its consulting arm - expertise. 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By selecting the relevant option, you consent to receive email alerts from or... Investment firm already has a track record of strong exit multiples successfully navigate todays increasingly complex global regulatory.... And more effective results across all of these questions is Blackstone invest in, and the in. By submitting this request, you must apply through the Blackstone Charitable Foundation, which focused! And capabilities they need to login or sign up below in college the involvement the... Up with your social account do and how we do and how to your! Monitor developments around the globe to provide guidance that enables Blackstone to successfully todays! Strategies for leading institutional investors and sophisticated individuals growing demand for low-cost, renewable energy North! $ 100 million Series D valuing the company at $ 500 million by submitting this request, you certify it. Infrastructure ( renewables, utilities and midstream ), as of March 2022 already a... 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