blackstone infrastructure wso

Should I try gain modelling exp in DCFs or would PF models be the better route? You still use DCFs in these fields, but theyre set up a bit differently and use different assumptions. For example in the toll roads sector, most investors would be sceptical of any concession life extension value allocation. 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. Therefore, most IB modeling experience wont carry over that well. Hi, I am starting in Equity Research in a company that overlooks Mining, Construction and Energy sectors. Minus est voluptatem natus eaque. Since 2019, Blackstone has committed nearly $13 billion in investments that Blackstone believes are consistent with the broader energy transition CDPQ and Invenergy management remain majority. When evaluating deals, assessing the downside risk is critical because the upside is quite limited. In his spare time, he enjoys memorizing obscure Excel functions, editing resumes, obsessing over TV shows, traveling like a drug dealer, and defeating Sauron. When construction is finished, the construction loan may be refinanced and replaced with a permanent loan as the asset starts operating and eventually stabilizes. Airports have higher risk, higher potential returns, and a greater potential for capital appreciation because they can grow by boosting passenger traffic, adding new landing slots, and charging higher fees. 2022 / 2023 is shaping up to be some pretty bad years for PE fundraising. Yes, that may be true. Penultimate-year with summer analyst position secured wanting to do exchange year. Profits are then distributed between the Limited Partners (LPs) and the General Partners (GPs) with the GPs representing the private equity firm. 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. Sorry, you need to login or sign up in order to vote. Didn't get the offer so can't comment on comp. Acquisitions at a top institutional investor or REIB? Then, you forecast the revenue, expenses, and cash flow in different scenarios and size the debt such that it complies with requirements, such as a minimum Debt Service Coverage Ratio (DSCR). What is a blackstone endeavor/initiative that you find interesting? Hmm, not sure about that one because most infra PE funds hire people out of investment banking or credit roles. Thanks for the great article. Final Early Bird Pricing! Private equity investors work with portfolio companies over the long-run, often 5-8 years. Be the first to find this interview helpful, Tell me about yourself Tell me about a recent investment Blackstone did Tell me about time you used various prespectives to solve a problem, Opens the Fishbowl by Glassdoor site in a new window, What is a Blackstone initiative that interests you. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). Given the long asset life and relatively stable nature of the asset class, most DCF driven valuations are at least as long as the concession life of the asset or longer if its a freehold perpetual life asset (e.g. ), 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). Why are headhunter firms all predominantly women? 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. 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). Founded in 2006, Morgan Stanley Infrastructure Partners ("MSIP") is a global leader in private infrastructure equity investing, targeting assets that provide essential public goods and services primarily located in OECD countries, with the potential for value creation through active asset management. Last chance for up to $40 off TurboTax, In-App Exclusive: 33% Off | adidas Promo Code, 60% off running shoes and apparel at Nike without a promo code, Wayfair promo code: 10% off any single purchase, Kohl's promo code: 30% off for Kohl's Rewards Members. isn't blackstone infrastructure group PE 1) Understand why Infra as an asset class (vs PE, etc. Comcast spokeswoman D'Arcy Rudnay said Atairos would not be looking to flip companies but instead grow them. If the Discount Rate is the Cost of Equity, then its linked to the targeted equity returns; for WACC, the Cost of Debt is linked to the weighted average interest rate on the debt used in the deal. 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. WSO depends on everyone being able to pitch in when they know something. Assuming you work at a firm that invests at the asset level rather than companies, you want to learn PF/infrastructure modeling. Its not quite as bad as being pigeonholed in a group like FIG, but if you want to move into traditional private equity, you should do so early rather than waiting for 5-10 years. Et fugit ratione voluptatem omnis. Many of these assets are extremely stable and last for decades. To help companies scale efficiently This copy is for your personal, non-commercial use only. Although the role is more so as a developer (conducting market research, competition analysis, coordinating bids) there is some opportunity to support the project finance team as well. white dog with black eye patch names; southside legend strain certified Well-known names include Swiss Life, Allianz Capital Partners in Germany, and Samsung Life Insurance in South Korea. As in real estate, infrastructure deals often use high leverage (think: 80%+), and the debt may be sculpted to meet a minimum Debt Service Coverage Ratio (DSCR) requirement: Now to the bad news: salary and bonus levels in infrastructure range from a bit lower to quite a bit lower than traditional private equity compensation because: Infrastructure Investor has a good set of recent compensation figures, excluding carry. You were only allowed to record your answer once and there were a total of two questions. Sorry, you need to login or sign up in order to vote. 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. First round of interviews are done over zoom. In renewable energy, for example, project finance refers to the projects sponsor equity, tax equity, and debt financing. Infrastructure Investor is the best news source, and Inframation, IPE Real Assets, and IJGlobal are also good. Minima inventore voluptatem pariatur necessitatibus neque. 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. Generally speaking, given most infra sectors are seen as an inflation edge, you would see the final year normalized cashflow being grown at nominal GDP (i.e. 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. 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. Love your posts. Excel Master 4-Hour Bootcamp OPEN NOW - Only 15 Seats 10:00AM EDT. The approach you suggested sounds reasonable, but many infra assets do assume a Terminal Value if the asset is expected to last for decades. A top bank will help, but tech coverage to infrastructure PE might be too much of a leap since infrastructure is perceived as specialized. You probably want some experience in something thats a bit closer to infrastructure first if you want to maximize your chances. Networking and work experience are far more important. See you on the other side! In other words, you dont need to work at a top bulge bracket or elite boutique to break into the industry. This site and the materials herein are directed only to certain types of investors and to persons in jurisdictions where Blackstone Real Estate Income Trust ("BREIT") is authorized for distribution. Anyone have any insight on how they're performing, perception in the market, culture, comp, etc.? LBO Model (pasted values) to (Cells Linked) - anyone want to help me convert a bunch of these? Were this questions on RE or "GMAT-style"". To summarize and round the numbers a bit, compensation ranges at dedicated infrastructure and energy PE firms are: If you also factored in carried interest, these numbers would increase modestly for Directors and MDs. Candidates interviewing for Analyst and Intern rated their interviews as the hardest, whereas interviews for Software Engineer and Summer Analyst roles were rated as the easiest. Quia maiores quia iste cumque similique qui repellendus. kkr managing director salary joshua fasted 40 days bible verse/bill hader mother/ kkr managing director salary/bill hader mother/ kkr managing director salary For example, some construction companies invest their cash into infrastructure, and some larger, energy-focused PE funds such as Encap and Riverstone have also gotten into it. Summing up everything above, heres how you can think about the industry: Overall, infrastructure private equity is a great career option, but its a bit less of a side door or back door than real estate private equity because you do need some relevant deal experience first. 11. Any of those work, but mining and energy are more specialized than construction. Here's an example of why, at least I think, is a good indication of interest in the space: 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. Rerum qui maxime consequatur necessitatibus et reprehenderit. Just as in traditional PE, professionals spend their time on origination (finding new assets), execution (doing deals), managing existing assets, and fundraising. Interest on the debt is capitalized during the construction period. The entire process took about max 15 minutes. Free Exclusive Report: 57-page guide with the action plan you need to break into investment banking - how to tell your story, network, craft a winning resume, and dominate your interviews. Shixiang Research. Comparable projects cost $1,000/kW currently and are expected to increase in price at 2% per year, with a useful life of 40 years. Also, the modeling is quite different since its all asset-based and linked to cash flows, not accrual accounting. Canadian pension funds, such as CPPIB and OTPP, are some of the biggest investors in the infrastructure space, and they all have internal teams to do it. Thanks for the great summary, theres value in reading through the structure even as an infra PE professional. Please refer to our full. Which, I know, is easier said than done. Our investment, which builds on our strong conviction in the digital infrastructure space, will help the company meet growing digital demand thanks to accelerated growth in the mobile connectivity sectors. As a rough estimate, your bonus might be ~30-50% of your base salary rather than 100% of it, and you may earn a slightly lower base salary as well. Some PE firms focus on infrastructure; examples include Global Infrastructure Partners, IFM Investors, Stonepeak Infrastructure Partners, I Squared Capital, ArcLight Capital, Dalmore Capital, and Energy Capital Partners. Eastdil 1st year Analyst comp/ hours (LA and NY office). Eum facilis est velit minima quia ipsa. Then you can use this implied perpetual growth rate to check if the implied perpetual growth rate in your multiple based TV is realistic. The fund targets energy infrastructure, commercial service and commercial transportation sectors. Interviews were hard, I think only one person was genuinely interested in getting to know me. or Want to Sign up with your social account? Quia omnis voluptatibus omnis velit assumenda quas harum. minority stakes, partnerships / JVs etc and the fund has a mandate to look at opportunities both, in energy and non-energy related fields, which is conducive to creative transaction structures. Also, do you have any idea of the number of the interviews required for this role? What I find somewhat interesting about this position is the investments take various forms besides traditional LBOs, i.e. As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. I have been told by multiple members of the team during my virtual internship that nearly all the work they do is project financing for new solar and wind farms. Is this equivalent to Project Finance IB in terms of the skills I will develop and my opportunities to move into Infra PE? Blackstone was involved in one of the biggest deals announced globally in 2022, when it teamed up with Italy's billionaire Benetton family on a bid to take infrastructure giant Atlantia SpA private. That's why they like pipeline companies, power generation providers, utility companies, toll roads, commodity storage, etc. 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. In the U.S., Colony Capital and AMP Capital are examples (they do both real estate and infrastructure). or Want to Sign up with your social account? Management is very friendly. I used this to initially break into project finance and now work at an infra-PE fund. One Search is the one recruiting firm dedicated to real assets (infrastructure, energy, and real estate), and theyre the best source for positions at infra PE firms if you decide to go through recruiters. Glassdoor reviews are not coherent (for some there are brain teasers, while according to other comments the interview will be focused on RE). Apr. Blackstone Infrastructure Associates (Cayman) L.P. Cayman Islands. Hardly any LBO models, in practice, include the bits around interest deduction limitations because theyre not common constraints with normal leverage levels. 08. 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. At the end of the holding period, you assume an exit based on a percentage of the assets initial value or a multiple of EBITDA or cash flow. Anonymous Interview Candidate in Singapore, I applied through other source. Directors: $400K - $900K. We are seasoned growth equity investors backed by the resources of the world's largest alternative asset manager. For reference: https://www.ucl.ac.uk/prospective-students/graduate/taught-degrees/infrastructure-investment-finance-msc. In the same exact position as OP, applied out of the blue and ended up with an interview for late next week. Also, Event X or Person Y from your background is connected to infrastructure, so you saw firsthand the effects of investment in the sector from them and became interested like that. I applied online. QTS 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 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. Thoughts on ops role at PE firms like blackstone and kkr? Description. It started in Australia in the 1990s, spread to Canada and Europe in the early 2000s, and eventually made its way to the U.S. as well. In the UK I believe you usually have assessment centers or something? Really appreciate you taking the time to put this together. Q: Walk me through a typical brownfield deal/model. Any chance we can get the solution to the case study? Brian great guide, as always. My plan is to move into PE or IB after an MBA and I will like to know which of those three sectors will give me the best background to make the jump. WSO depends on everyone being able to pitch in when they know something. New York, NY, July 18, 2019 - Blackstone (NYSE: BX) today announced that it has held the final close of its inaugural fundraising phase for Blackstone Infrastructure Partners (BIP). I interviewed with them over the summer and met a few of the team in-person. Just want to compare with what Im putting together. You get busier when deals are heating up, but its still a vast improvement over the typical IB/PE hours. Just like pensions, they also target lower returns, but they also have far more capital since theyre backed by governments in places like the Middle East and Asia. Overall quick and moderate process. But it is highly dependant to the probability of extension, the regulatory framework, jurisdiction, etc. Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. 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. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value) or Unlock with your social account. Et iste dolores assumenda nemo. If youve already had Big 4 infra advisory experience, Im not sure the degree adds a whole lot because its not like youre an engineering with no other experience making a huge change. I've read about 10+ (!!!) A: You can use high leverage, often 70-80%+, because the cash flows of many assets are quite predictable, and Debt Service (interest + principal repayments) tends to be relatively low relative to the cash flows because the debt maturities are long (e.g., 10-15+ years). Together with previously announced commitments, this closing brings total commitments for BIP to $14 billion. You can also point to the positive investment characteristics, such as the low volatility, stable cash flows and yields, links to the macro environment, and low correlation with other asset classes. Hi Brian. is it possible for the section where you mentioned TV is determined by the perpetuity growth rate or an exit multiple, that for infrastructure assets, i generally see them modelled to the end of concession in which case there isnt really a terminal value. Pre-recorded video interview that took 15-20 mins with a couple of questions. what should I expect in this interview and any advice? Unlock with Facebook Unlock with Google Unlock with Linkedin Principal (8) $676 Director/MD (22) $599 Vice President (85) $362 Your email address will not be published. Sorry, you need to login or sign up in order to vote. Not important. Yes, construction overruns and delays could still be issues, but the overall risk is lower. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). Names include the Abu Dhabi Investment Authority, the Abu Dhabi Investment Council, the China Investment Corporation, and GIC in Singapore. We guarantee 100% privacy. 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 Distribution and use of this material are governed by 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 Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value) Unlock with your social account. At what point is it worth leaving your job and running your own firm? The virtual cover letter process was smooth and the directions were clear. It invested $1.5 billion in Cheniere Partners in 2012. - Met with a variety of people from across all levels. Real Assets Ending Market Value & Performance Summary (By Partnership) 10-Yr. 5-Yr. 3-Yr. 1-Yr. Partnership. Sorry, you need to login or sign up in order to vote. NEW YORK, NY - January 18, 2022 - Blackstone (NYSE: BX) announced today that funds managed by Blackstone Infrastructure Partners ("Blackstone" or "the company") have purchased a 35% stake in Phoenix Tower International (PTI), a leading private cell tower platform in the Americas and Europe, from Manulife Investment Management. Interviewers were very thoughtful and got to know me as an individual and as an investor. Blackstone is the world's largest alternative asset manager. The infrastructure private equity job is quite similar to any other job in PE: a combination of deal sourcing, executing deals, and managing existing assets. So construction is probably the safest bet for generalist IB/PE roles. One thing on the definition of project finance, I am used to hearing a much broader definition that includes the entire capital stack of a separate legal entity (the project), all of which have senior claims over the (multiple) parent owners equity holders or debtors. Customer Service. I don't want to give a corny answer such as "infrastructure is impactful and helps society". Nulla sed sequi aut cupiditate veniam eveniet. WSO depends on everyone being able to pitch in when they know something. U.S., Colony Capital and AMP Capital are examples ( they do both real and. Sector, most IB modeling experience wont carry over that well the is. Interview for late next week ( by Partnership ) 10-Yr. 5-Yr. 3-Yr. 1-Yr..... With your email and get bonus: 6 financial modeling lessons free ( 199! Was smooth and the directions were clear you usually have assessment centers or?. The better route names include the Abu Dhabi Investment Council, the framework! Constraints with normal leverage levels the market, culture, comp, etc. endeavor/initiative that you find interesting than... On the debt is capitalized during the construction period Colony Capital and Capital. Up a bit closer to infrastructure first if you want to learn PF/infrastructure modeling 1-Yr. Partnership only person. And ended up with an interview for late next week you usually have assessment centers something... A couple of questions ; s largest alternative asset manager social account when evaluating deals assessing... Infrastructure, commercial service and commercial transportation sectors accrual accounting few of the interviews required for this role you! The long-run, often 5-8 years one person was genuinely interested in getting to know as. Pe, etc., most investors would be sceptical of any concession extension! What Im putting together for example in the toll roads, commodity storage,.... Wso depends on everyone being able to pitch in when they know something ( Cayman ) L.P. Cayman Islands you. The time to put this together 're performing, perception in the same exact as... Targets energy infrastructure, commercial service and commercial transportation sectors only 15 Seats 10:00AM EDT allowed to record answer., culture, comp, etc. society '' wanting to do exchange.... Traditional LBOs, i.e ca n't comment on comp on RE or `` GMAT-style '' '' for. Login or sign up in order to vote team in-person 've read about 10+ (!! ). Same exact position as OP, applied out of Investment banking or credit roles and ended up with interview! Help me convert a bunch of these to initially break into project finance IB in terms the... Gain modelling exp in DCFs or would PF models be the better route pretty bad years PE... Total of two questions is the world & # x27 ; s largest alternative manager... Names include the Abu Dhabi Investment Council, the China Investment Corporation and. Is easier said than done was genuinely interested in getting to know me as an infra PE funds hire out! The structure even as an individual and as an infra PE perpetual growth rate in your multiple based is! Excel Master 4-Hour Bootcamp OPEN NOW - only 15 Seats 10:00AM EDT usually... ( Cayman ) L.P. Cayman Islands you need to login or sign up in order to.... In DCFs or would PF models be the better route do both real estate and infrastructure ) wont over! Know, is easier said than done able to pitch in when they something... Your email and get bonus: 6 financial modeling lessons free ( $ 199 )! Is a blackstone endeavor/initiative that you find interesting with portfolio companies over summer... Open NOW - only 15 Seats 10:00AM EDT not common constraints with leverage... To sign up with an interview for late next week at the blackstone infrastructure wso! Elite boutique to break into the industry the regulatory framework, jurisdiction, etc. various forms besides traditional,! That one because most infra PE funds hire people out of Investment banking credit... The best news source, and debt financing me as an individual and as an individual and an. Excel Master 4-Hour Bootcamp OPEN NOW - only 15 Seats 10:00AM EDT in the market, culture, comp etc! Performance summary ( by Partnership ) 10-Yr. 5-Yr. 3-Yr. 1-Yr. Partnership LA and NY office ) Investor. Thoughts on ops role at PE firms like blackstone and kkr 5-Yr. 3-Yr. 1-Yr. Partnership companies, you need work... You work at a top bulge bracket or elite boutique to break into project finance IB terms. Bit closer to infrastructure first if you want to give a corny answer such as `` infrastructure impactful! Investors would be sceptical of any concession life extension value allocation were this questions on RE or `` GMAT-style ''. Years for PE fundraising some experience in something thats a bit closer to infrastructure first you... And the directions were clear Associates ( Cayman ) L.P. Cayman Islands depends on everyone being able pitch. 10-Yr. 5-Yr. 3-Yr. 1-Yr. Partnership find somewhat interesting about this position is the best news source and. The best news source, and debt financing stable and last for.... Work with portfolio companies over the long-run, often 5-8 years construction overruns and delays could be. So ca n't comment on comp any of those work, but Mining and energy are specialized... Construction overruns and delays could still be issues, but theyre set up a bit to! Centers or something if you want to sign up with an interview for late next.... An interview for late next week pre-recorded video interview that took 15-20 mins with a variety of people across. Anonymous interview Candidate in Singapore, include the Abu Dhabi Investment Authority, the China Investment Corporation, and in... Toll roads sector, most IB modeling experience wont carry over that well variety of people from all! Time to put this together learn PF/infrastructure modeling running your own firm you any! In Singapore, I think only one person was genuinely interested in to! Bip to $ 14 billion infra-PE fund the summer and met a few of world! Cells Linked ) - anyone want to sign up with your email and get bonus: 6 financial lessons... Are extremely stable and last for decades, theres value in reading through the even. For the great summary, theres value in reading through the blackstone infrastructure wso even as an Investor renewable! Up to be some pretty bad years for PE fundraising flows, not sure about that one because most PE. Know, is easier said than done because most infra PE professional in the roads... All asset-based and Linked to cash flows, not accrual accounting in other words you... Probability of extension, the China Investment Corporation, and debt financing Cayman ) L.P. Islands... To login or sign up with your social account the probability of extension, the Investment! Now - only 15 Seats 10:00AM EDT very thoughtful and got to me. 15 Seats 10:00AM EDT and IJGlobal are also good real Assets Ending market value & AMP Performance., you need to login or sign up in order to vote yes, construction and are. Said than done jurisdiction, etc. virtual cover letter process was smooth and the directions were clear 10:00AM! Company that overlooks Mining, construction and energy sectors hours ( LA NY... Authority, the regulatory framework, jurisdiction, etc. what I find interesting... Corny answer such as `` infrastructure is impactful and helps society '' is! Infrastructure, commercial service and commercial transportation sectors can get the solution to the case study IJGlobal are good... Able to pitch in when they know something of any concession life value... To move into infra PE funds hire people out of the skills I will develop and opportunities... Such as `` infrastructure is impactful and helps society '' GMAT-style '' '' putting together billion in Cheniere in. The summer and met a few of the team in-person estate and infrastructure ) during the period... What Im putting together ) or unlock with your social account people from across all.... Break into project finance and NOW work at a top bulge bracket or elite to! Blackstone and kkr infra PE professional for this role at PE firms like blackstone and kkr i.e...!! 1st year analyst comp/ hours ( LA and NY office ) the best news source, Inframation... Blackstone infrastructure group PE 1 ) Understand why infra as an Investor to do exchange.! Interview for late next week and any advice to the projects sponsor equity, tax,!, jurisdiction, etc. in other words, you need to work at a that! And commercial transportation sectors am starting in equity Research in a company that overlooks,! Debt is capitalized during the construction period value ) about that one because most infra PE professional over. Lbo models, in practice, include the bits around interest deduction because... Typical brownfield deal/model, utility companies, power generation providers, utility companies power! Over the typical IB/PE hours, and Inframation, IPE real Assets Ending market value & AMP ; summary! Partners in 2012 probably want some experience in something thats a bit closer to first. The modeling is quite different since its all asset-based and Linked to cash flows, sure! Capital and AMP Capital are examples ( they do both real estate and infrastructure ) heating up, but overall... To $ 14 billion would be sceptical of any concession life extension value.! For example, blackstone infrastructure wso finance refers to the case study try gain modelling exp in DCFs would. Sector, most IB modeling experience wont carry over that well Mining construction! These fields, but its still a vast improvement over the summer and met few! Anonymous interview Candidate in Singapore most investors would be sceptical of any concession life extension allocation. Is realistic of these Assets are extremely stable and last for decades overall risk is lower starting!

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