The position is based in New York and the successful applicant will be working as part of Blackstone’s Tactical Opportunities business.
Blackstone set up its Tactical Opportunities business to offer “a proprietary investment strategy incorporating Blackstone’s core alternative asset management businesses – private equity, real estate, credit and hedge funds – and to source, execute and capitalize on investment opportunities that others cannot.”
This part of Blackstone’s business runs separate accounts for limited partners. The advantage of such an arrangement for a limited partner is that the investor can dedicate substantial sums, often more than $1 billion, to large GPs, such as Apollo Global Management, The Carlyle Group or Kohlberg Kravis Roberts & Co to name others and often these one-client arrangements have lower fee arrangements and more flexibility to extend the investment period if both parties agree.
According to a recent article by Buyouts’ Greg Roth, last year California Public Employees’ Retirement System made a $500 million commitment to the Blackstone Group-run separate account for tactical opportunities.
According to the job description, some of the responsibilities in the position would include “working closely with the investment team on deals and investment opportunities; working alongside the research function in finding information sources, synthesizing data, and summarizing findings for an investment team managing a new investment fund; working with research and conducting research on companies, industries, and asset classes and drafting information memorandum and marketing materials for the investment team.”
Desired qualifications include a “Master’s degree (or foreign equivalent) in business administration, finance, accounting, commerce, economics or related with 3 years’ experience. In addition, at least three years’ experience is required in one or a combination of the following – investment banking, hedge fund/distressed debt investing, private equity investing or the energy industry with a focus on oil refining.
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