Blackstone Portfolio Management – Singapore (6-month off-cycle internship)

Business Unit:

Real Estate, Singapore

Business Description:

Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has $187 billion of investor capital under management. Blackstone is one of the largest property owners in the world, owning and operating assets across every major geography and sector, including logistics, multifamily and single family housing, office, hospitality and retail. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ strategy invests in substantially stabilized real estate globally through regional open-ended funds focused on high-quality assets and Blackstone Real Estate Income Trust, Inc. (BREIT), a non-listed REIT that invests in U.S. income-generating assets. Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).

Job Title: Portfolio Management, Intern

Job Description:

• Key responsibilities include:
  • Valuation
    • Review valuation models
    • Assist with technical model upgrades
    • Assist Revantage (Blackstone owned portfolio company) with preparation of materials for valuation calls
    • Attendance on regional and global valuation calls; consolidating action items and coordinating model updates
    • Update and consolidate qualitative key drivers and assumption changes
    • Preparation of valuation related data points to New York team for the global valuation materials
    • Assist with the external assurance and audit process alongside Revantage and Asset Management
    • Ad hoc requests from senior management (e.g. exposures, comparisons and trends)
  • Now Expected (cash flow forecast/’hold/sell’ analysis)
    • Review now expected models
    • Assist with technical model upgrades
    • Assist Revantage with preparation of materials
    • Attendance on regional and global valuation calls; consolidating action items and coordinating model updates
    • Provide updated cash flow projections and commentary to New York team for the global Now Expected materials
  • Internal Reporting
    • Preparation of quarterly asset class exposure report and property data file
    • Preparation of quarterly portfolio summary
    • Co-ordinate with Asset Management and Portfolio Companies to update leasing tracker templates for monthly reporting
    • Assist Revantage with preparation of rent roll templates for quarterly reporting
    • Co-ordinate update of hospitality asset P&L/operating metrics templates for monthly reporting
    • Co-ordinate and prepare weekly Asset Management update for Monday meeting
  • Investor Reporting
    • Assist Revantage with preparation of Core+ operating metrics tracker
    • Assist Revantage with preparation of quarterly Core+ LP Data Templates
    • Preparation of quarterly data file for Investor Relations team
  • Process Improvement
    • Assist with the assessment and implementation of process improvement initiatives across the region alongside the Technology team
  • Co-ordination with global Portfolio Management teams in New York and London

Qualifications:

Blackstone seeks to hire individuals who work well in a team-driven working group, are highly motivated, intelligent, have sound judgment and have demonstrated excellence in prior endeavors.

The successful candidate must have:

• Strong MS Office skills, particularly Excel
• Excellent written, verbal, and interpersonal communication skills
• Strong attention to detail and ability to work autonomously
• Drive and desire to learn and develop skill set

Requirements:

To be considered for the off-cycle internship, applicants must meet the following criteria:

• Currently enrolled as a fulltime undergraduate or master’s degree student. If you are pursuing a Master’s degree, you should have no more than 1 year of fulltime working experience·
• Anticipated graduation date: September 2024 – June 2025
• Resume must include expected graduation month/year and cumulative GPA
• Resume must be in PDF format
• A copy of your latest transcript

Internship Period – 6 months

As we are reviewing application on rolling basis, early application is recommended.

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, disability, sexual orientation, national origin or any other category protected by law.

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.

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.