BAAM - Horizon Investment, Principal

Blackstone is the world's largest alternative asset manager. 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. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $941 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, Twitter, and Instagram.

Business Unit:

BAAM

Business Unit Overview:

Blackstone Alternative Asset Management (BAAM®) manages approximately $80 billion across a diversified set of businesses, including a customized portfolio solutions business, a special situations platform, a business that purchases GP stakes in alternative asset managers, an open-ended mutual fund platform, and an emerging manager seeding business. BAAM invests across a variety of asset classes and strategies to create solutions for its investors. Through its sharp focus on clients' goals, a rigorous due-diligence process and access to Blackstone's global insights, BAAM strives to generate attractive risk-adjusted returns across market cycles while mitigating downside risk during stressed market environments.

Job Title:

Principal - BAAM Horizon Investment

Job Description and Responsibilities:

• Conduct business due diligence for public and private (late stage venture, growth, pre-IPO) technology companies, including, but not limited to, unit economic analyses, operational, financial, competitive, customer and supplier diligence and conducting expert interviews. Sub-sectors within the technology space include internet, media, software and FinTech.
• Identify key business drivers, build and review detailed and robust financial models and valuation frameworks using various methodologies, such as comparable company analysis and discounted cash flow analysis, leading to investment decisions.
• Extensive analysis of industry using techniques such as total addressable market estimation, cohort analysis, customer segmentation, competitive landscape mapping and company specific events such as regulatory changes, mergers & acquisitions, quarterly/ annual results to evaluate impact on existing and prospective investments.
• Lead and guide junior professionals through the investment due diligence process including deciding key focus areas, investment hypothesis, due diligence methodologies etc. and reviewing financial models, presentations etc.
• Structure minority stake private investment securities (equity and debt) with downside protection provisions and minority shareholder rights.
• Negotiate valuation and terms of an investment with CEOs/CFOs and other stakeholders.
• Attend Board of Directors meetings for companies in the portfolio and help craft compelling business plans, growth strategies and in cases of troubled investments, restructuring plans.
• Build relationships with entrepreneurs, founders, management team members (incl. CEO, CFO etc.) and potential co-investors, to source discuss and diligence new investment ideas.
• Lead the investment process by coordinating with internal and external stakeholders such as legal counsel, compliance, risk, tax, trading, and public relations teams.
• Perform ongoing tracking and performance evaluation of portfolio investments, including responsibilities for valuation and documentation of the investments and presenting to fund auditors and valuation specialists.

Minimum Qualifications:

• Education: Bachelor's degree (or equivalent) in Finance, Economics, Business Administration, or a related field
• Experience: 7 years conducting business due diligence across multiple sectors including the technology sectors, and across public and private companies. Performing unit economic analyses, operational, financial, competitive, customer and supplier diligence, assessing management teams and conducting expert interviews; Utilizing corporate finance and financial modelling skills to build a fully-functional financial model from inception, reflecting key business drivers and variables, including valuation analyses and sensitivity analyses such as discounted cash flow, relative value, and sum of the parts, leading to critical investment decisions; Conducting primary market research and analyzing data using various methodologies such as cohort analysis, lifetime value analysis, conjoint analysis, cluster analysis, and customer segmentation, competitive landscape mapping and analyzing industry and company-specific events such as regulatory changes, mergers & acquisitions, spin-offs, demergers, and quarterly/annual results to evaluate the impact on investments; Developing detailed capitalization tables for specific transaction structures and investment vehicles employed in private investing, which is utilized to analyze cash-on cash (CoC) and internal rate of return (IRR) for various exit scenarios; Synthesizing investment views in an intuitive manner, creating presentation materials and presenting it to the investment committee meeting and position/ portfolio updates; Coordinating with the deal team as well as internal stakeholders to drive the investment process; Communicating with senior members of management teams (CEO, CFO etc.), investors, industry experts/ consultants to conduct business diligence and source investment ideas and opportunities; and Demonstrating knowledge and structuring of private equity and debt securities.
• Travel required 20% of the time to attend meetings with prospective companies and general partners at other funds, as well as to attend conferences and board meetings.
• Experience can be concurrent.

The duties and responsibilities described here are not exhaustive and additional assignments, duties, or responsibilities may be required of this position. Assignments, duties, and responsibilities may be changed at any time, with or without notice, by Blackstone in its sole discretion.

Expected annual base salary range:

$225,000 - $250,000

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: Base salary does not include other forms of compensation or benefits offered in connection with the advertised role.

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), +44 (0)20 7451 4000 (EMEA) or +852 3656 8600 (APAC).

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 and 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. Please speak with your Blackstone Recruiting contact with any questions.

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