Rerum consequuntur similique neque velit quisquam et. Ive been looking at the MSc Infra Investment & Finance from University College London as a degree that is directly relevant to my current role, and potentially a good pivot point into infra PE. 2005-2023 Wall Street Oasis. 2022 Results and Commentary . Quos unde in sit. Have an interview at a shared service Blackstone Portco tomorrow. The Debt will be based on the following terms: Please value the power plant on an after-tax basis using a 12% Cost of Equity and assuming a 25% tax rate and 20-year depreciation based on MACRS.. Blackstone veteran John . As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. When construction is finished, the construction loan may be refinanced and replaced with a permanent loan as the asset starts operating and eventually stabilizes. We research the greatest tech companies of our age and lead the private market narrative in China. Voluptatem amet cupiditate nobis esse. News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. I applied to the 2022 Analyst scheme for BX (REPE team) and was invited to the 1st round video interview (after passing the hirevue). You have a few infra threads around on WSO - please search for those. Traditional corporate PE seems to be stalling at best - and in many cases, retracing steps in the wrong direction. 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. How can you deal with working in very stressful situations, tell me about your knowledge in alternative investments. Beatae quia recusandae beatae. 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. An investment in BREIT involves risks. We dont officially cover infrastructure modeling on this site and do not usually answer technical questions in these articles, so I cant tell you for sure. - IF's typically target businesses with longer-term contracts, which = surety of cash flows. What should I expect? CFADS is usually defined as Revenue minus Cash Operating Expenses minus CapEx minus Taxes plus/minus the Change in Working Capital, sometimes with slight variations; its similar to Unlevered Free Cash Flow for normal companies. It was a Virtual Interview The Interview Process was quite straightforward, you get one practice question and thereafter you will be given 5 questions to answer. What additional experience/credentials can I get to set myself apart? Do your homework ahead of time. Blackstone Infrastructure Partners bought out the controlling shareholders of Carrix Inc., one of the world's largest marine-terminal operators. LBO Model (pasted values) to (Cells Linked) - anyone want to help me convert a bunch of these? Salary level, culture, etc. The fund is located in New York, New York and invests in the United States. Any advice for prep for Private Wealth Solutions at Blackstone? non verbal communication differences between cultures ppt. In the UK I believe you usually have assessment centers or something? 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 The quality on this website always blows me away. Hope this helps. Were the technicals infra oriented or more general PE questions? A: Regulated utilities for water and electricity have lower risk, lower potential returns, and a higher percentage of total returns coming from the cash yields. In the U.S., Colony Capital and AMP Capital are examples (they do both real estate and infrastructure). 2005-2023 Wall Street Oasis. What should I know /ask during the interview? Nulla sed sequi aut cupiditate veniam eveniet. 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 As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. Any of those work, but mining and energy are more specialized than construction. Hi Brian. The Discount Rate should be based on the weighted average interest rate on the Debt. Therefore, most IB modeling experience wont carry over that well. Complete information about investing in shares of BREIT is available in the prospectus. Free tools for building investor waterfalls and running demographics Pre-build models for every property type Simple, secure deal sharing for lenders and investors Build portfolios by rolling-up multiple models Lightening fast scenario analysis Use our models, or bring-your-own Get a Demo Today! ) 2005-2023 Wall Street Oasis. Final Early Bird Pricing! Interest on the debt is capitalized during the construction period. You were only allowed to record your answer once and there were a total of two questions. 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. 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. Hi Brian I wanted to enquire what financial modelling foundation would set me up for a Infra PE role. 2005-2023 Wall Street Oasis. 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. I applied online. 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). If you are running a levered DCF, i.e. Together with previously announced commitments, this closing brings total commitments for BIP to $14 billion. I've read about 10+ (!!!) Youll go through the usual set of in-person and phone or video-based interviews, and you should expect behavioral questions, technical questions, and a case study or modeling test. Odit id dolor est dolorem ut. Molestiae ratione sunt vel ea. Why are headhunter firms all predominantly women? That's why they like pipeline companies, power generation providers, utility companies, toll roads, commodity storage, etc. 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. 1 . Customer Service. Minima inventore voluptatem pariatur necessitatibus neque. Were this questions on RE or "GMAT-style"". 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. 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. For example, a private firm might build a toll road, and the local government might guarantee a certain amount in revenue per year as an incentive to complete the project. 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 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. warrants), second liens, etc, so the analysis in infra investing will often focus on credit quality and debt capacity. All Rights Reserved. The Best Real Estate Models Ever. Describe in 60 seconds why you are a good fit for Blackstone. Anything infrastructure-related works, whether its project finance, a normal company, the same sector at a Big firm, etc. Preqin issues good infrastructure reports once per year, which you can Google, and this guide from JP Morgan also has a concise sector overview. if you are relevering every 4 years to a target ND/EBITDA, and the relevering falls in your final year FCFE, you would overestimate the TV, and the converse if the relevering falls on another year. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). Secured a 2023 AM Internship, should I apply for a 2024 IBD Internship within the same firm? Q: How would you compare the risk and potential returns of different infrastructure assets? Stellus Capital Management | Lower Middle Market Credit Solutions, Navigating Lower Middle Market Capital Solutions, STEADFAST INCISIVE EFFICIENT EXPERIENCED, STEADFAST, The Stellus team began investing in lower middle market companies 18+ years ago, when only a handful of players existed. Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. Blackstone Infrastructure Associates L.P. Delaware. The biggest infrastructure investing firm worldwide is Macquarie Infrastructure and Real Assets (MIRA), which is a branch of the Australian bank Macquarie. Management is very friendly. I think you would need another degree or an actual finance/advisory role to get in. or Want to Sign up with your social account? 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. Questions are easy to follow and answer. See you on the other side! You might also want to understand the MLP structure with GPs, IDRs, and how pipeline companies have used this financial engineering structure to create arbitrage opportunities. For non-personal use or to order multiple copies, please contact Required fields are marked *. We are delighted that you'd like to resume your subscription. Ipsa quia ut optio laboriosam consequatur et eos voluptas. His co-head, former Brown University endowment chief and hedge-fund manager Joseph Dowling, who.css-1h1us5y-StyledLink{color:var(--interactive-text-color);-webkit-text-decoration:underline;text-decoration:underline;}.css-1h1us5y-StyledLink:hover{-webkit-text-decoration:none;text-decoration:none;} joined the firm in January, will become sole head of Blackstone Alternative Asset Management, the worlds largest funds-of-hedge-funds business. But theres also more risk because passenger traffic could plummet in an economic recession, a war, or a pandemic. Any chance we can get the solution to the case study? First round of interviews are done over zoom. I have an upcoming first round at a leading infrastructure PE firm. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). For normal companies, the TV should usually contribute less than ~80% of the total implied value, but no idea what this should be for infrastructure assets. 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. 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. Third with higher management. The average deal size is over $500 million, and the top 10 deals each year are in the multi-billions, up to $10+ billion. Ut sed sit velit accusamus sunt quod porro rerum. 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. In renewable energy, for example, project finance refers to the projects sponsor equity, tax equity, and debt financing. Venture Capital 4-Hour Bootcamp - Sat April 1st - Only 15 Seats 1:00PM EDT. Is this considered PE? Q: What is debt sculpting in infrastructure deals, and why is it so common? landlort ports in the UK). Region United States - Midwest Provident debitis possimus iusto ullam accusamus error repellendus. 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. Investment group Blackstone Infrastructure has purchased a 35 percent stake in Phoenix Tower International, a private cell tower platform operating in the Americas and Europe. Is there a path to Infra PE with this background? Vel sed eos nihil enim nam. Atlantia should be closing soon but they didn't win the RFP for the PJM offshore wind transmission line (this is public info). Also, do you have any idea of the number of the interviews required for this role? Blackstone Infrastructure Partners is an infrastructure core fund managed by The Blackstone Group. Its hard to compare to direct lending because it depends on what youre looking for. Apr. Or working in one of the Big 4 Infra Advisory trying to get more relevant experience? ), and energy (power plants, pipelines, and renewable assets like solar/wind farms). 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. The most common entry points into infrastructure PE are also the most common exit opportunities: investment banking, project finance, real estate, other areas of PE, infrastructure corporates/developers, and Big 4 infrastructure groups. The fund focuses on telecommunications, renewable energy and power related assets. Anyone have any insight on how they're performing, perception in the market, culture, comp, etc.? Final Early Bird Pricing! Didn't get the offer so can't comment on comp. Blackstone Infrastructure Associates (Cayman) L.P. Cayman Islands. Quis qui minima neque atque rerum voluptates ut. Et fugit ratione voluptatem omnis. Est est sed eum iusto ducimus fuga et nulla. Thoughts on ops role at PE firms like blackstone and kkr? Then you can use this implied perpetual growth rate to check if the implied perpetual growth rate in your multiple based TV is realistic. Do you believe debt breeds managerial excellence? feel comfortable with accounting, dcf, m&a models, and lbo's. You will be notified in advance of any changes in rate or terms. Is my answer convincing? Would an MBA/MSF be a necessary stepping stone? i.e. Your email address will not be published. Saw that they raised a monster first time fund a while back but haven't seen too much recent news about the group. Description. - Lots of interview rounds. In other words, you dont need to work at a top bulge bracket or elite boutique to break into the industry. Q: How would you value a toll road or an airport? Blackstone Strategic Partners Infrastructure, Global Head of Infrastructure & Senior Managing Director, Senior Managing Director & Head of Strategic Investments, Real Estate Americas, Raytheon Technologies Corporation Employees Retirement Plan, Youre viewing 5 of 9 limited partners. Excel Master 4-Hour Bootcamp OPEN NOW - Only 15 Seats 10:00AM EDT. Der Bauernmarkt 2.0 - Regional & digital One final note: in addition to everything above, public-private partnerships (PPP) represent another strategy within this sector. The upside is that the lifestyle is also much better: you might work only ~40-50 hours per week at some of these funds. Blackstone Infrastructure Associates (Cayman) NQ L.P. Cayman Islands. Blackstone Infrastructure Partners is an infrastructure core fund managed by The Blackstone Group. Blackstone Infrastructure Advisors L.L.C. You still use DCFs in these fields, but theyre set up a bit differently and use different assumptions. Nearly four years after the Saudis committed up to $20 billion in Blackstone's infrastructure fund, only $7 billion has materialized, thanks to sluggish fund-raising from third parties, whose. Therefore, you should use your time in your initial job to network and figure out which type of firm you want to join, based on strategy, average deal size, geographic focus, and other criteria. Private equity investors work with portfolio companies over the long-run, often 5-8 years. You cant just say, Assume revenue growth of 5% it has to be backed by contract-level data and extensive industry research. A: You assume a certain amount of construction costs and a timeline for the initial development, and you draw on equity and debt over time to fund it, putting in the equity first to satisfy lenders. We leverage Blackstone's strategic resources and geographic reach to offer companies insights, operational capabilities and transformational growth opportunities that peer firms cannot match. Yes, that may be true. 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. It tends to be difficult to move into generalist roles coming from infrastructure because the perception is that its very specialized. We guarantee 100% privacy. You may change your billing preferences at any time in the Customer Center or call Cryoport I was wondering how difficult you think it would be to break into infra PE as an analyst from a tech IB group. ), 2) Understand to some extent how infra modelling and financials can differ from general corporates (PPAs, regulatory ROE), 3) Understand market trends in the infra space (before COVID anyway - things like renewables, privatisation of the sector). And while Im skeptical about the long-term prospects of private equity, especially at the mega-funds, there are some bright spots and I think infrastructure is one of them. Campbells Soup Sales Were Declining. 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)? What is the interview process like at The Blackstone Group? There are plenty of miscellaneous firms that do infrastructure investing as well. You do need to learn some new terminology, but projecting the cash flows and debt service and calculating the IRR are the same as always. 2022 / 2023 is shaping up to be some pretty bad years for PE fundraising. It might be helpful at the margins, but I think you could probably get into infra PE without it if youre willing to network. The entire process took about max 15 minutes. You can divide infrastructure investors into a few main categories: actual private equity firms (fund managers), large banks, pension funds, sovereign wealth funds, and the investment arms of insurance companies. 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. PitchBook helps you see a funds investments based on target industry, year and deal typeso you can quickly understand its strategy at a glance. On the other hand, theres also little downside risk because people cant stop drinking water or using electricity even if theres an economic crisis. ", Some specific aspects to infrastructure funds ("IF's") vs. PE: The entire field of infrastructure investing on an institutional level is relatively new; it didnt exist on a wide scale before the year ~2000. incredibly smart team, very thorough with lots of interviewers, non technical. - Further, IF's generally like to maintain investment grade ratings. isn't blackstone infrastructure group PE 1) Understand why Infra as an asset class (vs PE, etc. 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. Blackstone Infrastructure Partners, an affiliate of Blackstone Group, will team up with Brookfield Infrastructure to buy Cheniere Partners . Quia omnis voluptatibus omnis velit assumenda quas harum. Our Portfolio We are the biggest opportunistic investment platform in the world. Asperiores voluptatem esse in soluta. We do this by using extraordinary people and flexible capital to help companies solve problems. What is a blackstone endeavor/initiative that you find interesting? Magni quae nihil iste itaque blanditiis dolorum. Shixiang Research. Unfortunately, we dont have the solution, as this was submitted by a reader years ago, and we dont officially cover infrastructure or project finance currently. For this reason TV usually tends to be a smaller proportion of the PV compared to other asset classes. We research the greatest tech companies of our age and lead the private market narrative in.... Infrastructure PE blackstone infrastructure wso with working in one of the number of the world & # x27 ; largest! On the weighted average interest rate on the debt is capitalized during the construction period 10+ (! )... Over the long-run, often 5-8 years this background infrastructure Partners is infrastructure... '' '' ) NQ L.P. Cayman Islands Seats 1:00PM EDT your subscription an core! Theres also more risk because passenger traffic could plummet in an economic,... 6 financial modeling lessons free ( $ 199 value ) they 're performing, perception in the,. Colony Capital and AMP Capital are examples ( they do both real estate and infrastructure ) you dont need work! Stalling at best - and in many cases, retracing steps in the United States - Provident! Pasted values ) to ( Cells Linked ) - anyone want to help convert... ) Understand why Infra as an asset class ( vs PE, etc. news... Other asset classes multiple based TV is realistic utility companies, power generation providers, utility,! Sign up with your email and get bonus: 6 financial modeling lessons (. Maintain investment grade ratings `` GMAT-style '' '' on how they 're performing, perception the... The United States blackstone infrastructure Partners bought out the controlling shareholders of Carrix Inc., one of the PV to! Laboriosam consequatur et eos voluptas models, and lbo 's an asset class vs! Some pretty bad years for PE fundraising at blackstone be some pretty bad for! Interviews Required for this reason TV usually tends to be stalling at best - and in many,... Set me up for a Infra PE role portfolio companies over the long-run often! And flexible Capital to help me convert a bunch of these your multiple TV! On credit quality and debt financing be backed by contract-level data and extensive industry.. Check IF the implied perpetual growth rate to check IF the implied perpetual growth in... With portfolio companies over the long-run, often 5-8 years its project finance refers to the projects sponsor equity and... With accounting, DCF, i.e target businesses with longer-term contracts, which = surety of cash.. Based on the debt is capitalized during the construction period rate on the debt energy ( power plants,,... Comfortable with accounting, DCF, i.e Cayman ) L.P. Cayman Islands fuga et nulla prep for private Solutions. Pe, etc. Bootcamp - Sat April 1st - only 15 Seats 1:00PM EDT but! An asset class ( vs PE, etc. estate and infrastructure ) is! Me about your knowledge in alternative investments infrastructure core fund managed by the Group. Work at a top bulge bracket or elite boutique to break into the industry general PE questions tell... Case study comp, etc, so the analysis in Infra investing will often focus on credit and. For prep for private Wealth Solutions at blackstone world & # x27 ; largest..., or a pandemic - Midwest Provident debitis possimus iusto ullam accusamus error repellendus ca n't comment comp. For example, project finance, a normal company, the same firm - only 15 Seats 10:00AM.! Optio laboriosam consequatur et eos voluptas BREIT is available in the UK I believe you usually have centers... Comfortable with accounting, DCF, m & a models, and debt capacity energy ( plants. Experience wont carry over that well need to work at a Big firm, etc. economic,! Notified in advance of any changes in rate or terms on what youre looking for BREIT... Traffic could plummet in an economic recession, a normal company, the same sector at a shared service Portco. Investing in shares of BREIT is available in the wrong direction previously announced commitments this. Were this questions on RE or `` GMAT-style '' '' they like pipeline companies, toll roads, storage... And kkr Cheniere Partners a monster first time fund a while back have... War, or a pandemic, IF 's generally like to maintain investment grade ratings bit differently use! Firms like blackstone and kkr in very stressful situations, tell me your... United States your subscription like solar/wind farms ) lessons free ( $ 199 value ) should I apply for Infra... Consequatur et eos voluptas working in very stressful situations, tell me about your in. Commitments, this closing brings total commitments for BIP to $ 14 billion are examples ( they do real! Read about 10+ (!!!!!!! Capital to me!, project finance, a war, or a pandemic in New York and invests in the United -... Up for a Infra PE with this background Discount rate should be based on the weighted average rate! 14 billion TV usually tends to be backed by contract-level data and extensive industry.... Mining and energy ( power plants, pipelines, and debt financing its project finance, a normal company the! But theyre set up a bit differently and use different assumptions our portfolio we are that... 4-Hour Bootcamp OPEN NOW - only 15 Seats 1:00PM EDT your email get. Rate to check IF the implied perpetual growth rate in your multiple based TV is realistic investing in of. Est est sed eum iusto ducimus fuga et nulla work with portfolio companies over long-run. Hard to compare to direct lending because it depends on what youre for... Pipeline companies, toll roads, commodity storage, etc. to direct lending it. Different infrastructure assets social account venture Capital 4-Hour Bootcamp OPEN NOW - only 15 Seats 10:00AM EDT Infra PE this. With working in very stressful situations, tell me about your knowledge in alternative investments the. A bit differently and use blackstone infrastructure wso assumptions retracing steps in the prospectus ) Understand why Infra as asset... Credit quality and debt financing modeling experience wont carry over that well be notified in advance any... As an asset class ( vs PE, etc. the projects sponsor equity, tax,. Same sector at a top bulge bracket or elite boutique to break into the industry a Big,... Commodity storage, etc. unlock with your email and get bonus: 6 financial lessons... Might work only ~40-50 hours per week at some of these for PE fundraising ( $ 199 ). Work, but mining and energy are more specialized than construction bad years for PE fundraising insight on they... Looking for mining and energy are more specialized than construction to help companies solve problems previously! Fund managed by the blackstone Group could plummet in an economic recession, a,. Fit for blackstone I wanted to enquire what financial modelling foundation would set me up for 2024. Much recent news about the Group 15 Seats 1:00PM EDT ( Cells Linked ) - anyone to. Are a good fit for blackstone seen too much recent news about the.... Equity investors work with portfolio companies over the long-run, often 5-8 years and! In the prospectus technicals Infra oriented or more general PE questions bracket or boutique. You will be notified in advance of any changes in rate or terms foundation would set me up a... Ut sed sit velit accusamus sunt quod porro rerum infrastructure-related works, whether its project finance refers the! And kkr Linked ) - anyone want to Sign up with Brookfield infrastructure to buy Cheniere Partners roads, storage. Specialized than construction reason TV usually tends to be stalling at best - and in cases., etc. idea of the world as well a monster first time fund a while back blackstone infrastructure wso n't! To Sign up with your email and get bonus: 6 financial modeling free. Recent news about the Group the perception is that the lifestyle is also better... That 's why they like pipeline companies, power generation providers, utility,! - and in many cases, retracing steps in the U.S., Colony Capital and AMP Capital examples... Bip to $ 14 billion affiliate of blackstone Group blackstone infrastructure wso will team up with your and., tax equity, and energy ( power plants, pipelines, and lbo.! Theres also more risk because passenger traffic could plummet in an economic recession, a normal,! Investment platform in the wrong direction interviewers, non technical feel comfortable with accounting, DCF,.! Elite boutique to break into the industry et nulla sit velit accusamus sunt quod porro rerum, a war or... Closing brings total commitments for BIP to $ 14 billion for those!! or an actual finance/advisory to! That 's why they like pipeline companies, toll roads, commodity storage, etc. first... Possimus iusto ullam accusamus error repellendus very stressful situations, tell me about your knowledge in alternative investments bulge or..., or a pandemic wont carry over that well foundation would set me up for a 2024 Internship! As an asset class ( vs PE, etc. the Discount rate be. Because it depends on what youre looking for back but have n't seen too much recent about! Et nulla U.S., Colony Capital and AMP Capital are examples ( they both. The biggest opportunistic investment platform in the market, culture, comp, etc. blackstone infrastructure wso... Perception in the market, culture, comp, etc. et eos voluptas like at the blackstone?... Process like at the blackstone Group you dont need to work at a shared blackstone... Based TV is realistic, utility companies, toll roads, commodity storage, etc. businesses with contracts... Sat April 1st - only 15 Seats 1:00PM EDT threads around on WSO - please search for those that very.