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Assistant Vice President
Blackstone
London, , United Kingdom
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Firm Profile
Blackstone is one of the world’s leading investment firms. 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 asset management businesses, with over
$340 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, 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 Twitter @Blackstone.
Group Profile: Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has over
$100 billion in investor capital under management. Blackstone’s real estate portfolio includes hotel, office, retail, industrial and residential properties in the US, Europe, Asia and Latin America. Major holdings include Hilton Worldwide, Invitation Homes (single family homes), Logicor (pan-European logistics), SCP (Chinese shopping malls), and prime office buildings in the world’s major cities. Blackstone real estate also operates one of the leading real estate finance platforms, including management of the publicly traded Blackstone Mortgage Trust.
Role and Responsibilities
The Firm is looking to recruit an Assistant Vice President to work as part of the finance team with a primary responsibility of managing the information coming out of Blackstone’s European Real Estate Funds.
Valuations Process
• Liaise with Asset Management to keep up-to-date listing of all investments and the relevant Asset Manager & Valuation Analyst;
• Review the quarterly valuation models, ensure all supporting documentation is received and agreed deadlines are met;
• Prepare the European valuations & fund performance summaries, liaise with senior management and New York Head Office for review;
• Keep minutes of European BREP & BPP Sub-Committee meeting;
• Prepare retrospective reviews based on Q4 valuations and statutory financials of prior year, for auditing purposes;
• Provide auditors with ICM, valuation models and other supporting documents on selected investments.
Investor Distributions and Forecasting Returns
• Assist with the coordination and management of the quarterly investor distribution and forecasting processes across all European investments;
• Liaise with Asset Management and various service providers to determine distributable cash amount and obtain commercial understanding of any material hold-backs;
• Prepare the European distribution summary, liaise with senior management and New York Head Office for review;
Asset Management Support
• Coordinate bridging finance for new deals and manage the FX exposure for the Funds;
• Report on financial aspects of certain Blackstone portfolio companies and SPVs;
• Support asset management team with ad hoc financial information / analysis as required;
• Act as central point of contact between Blackstone and various service providers.
Financial Reporting
• Analysis and consolidation of reporting packages received from local account managers and portfolio companies across Europe;
• Assist in the preparation of the year end audited UK GAAP financial statements for three large Real Estate funds with total assets under management of over €2 billion
• Work in a team to coordinate the European audit process, liasing with local, group and global auditors to ensure that information is provided on a timely basis and that deadlines are met.
Management Reporting
• Preparation of bi-weekly management information for senior management presenting all key metrics for the Funds;
• Prepartion of regular and ad-hoc reports to New York senior management;
• Preparation of reports / data for the annual Limited Partners meeting;
Other Responsibilites
• Participation of investor specific reporting including fund level forecasts and performance summaries;
• Participate in technology projects to improve the quarterly valuation, forecasting and distribution tools and processes<
• Ad hoc project work.
• Independently and proactively liaise with the Acquisitions team in London and Fund accounting teams in NY on all required actions providing liquidity (capital calls and line of credit draws) to new deals.
• Reflect the Acquisition and Asset Management team liquidity needs in the bi-weekly line of credit and available capital forecasts and share those with the Europe management team.
• Manage the Europe FX hedging needs
• Establish close working relationships with the banking teams (both in subscription finance and in FX hedging)
Experience
• A highly analytical finance professional motivated by a dynamic, high - standards environment
• Strong communication skills both written and verbal
• Reputation for excellence and achievement and a mind set for self-improvement and growth
• Fund accounting experience in Real Estate Private Equity is essential
• Relevant financial experience at a Big 4 accounting firm is required
• Experience of FX hedging
• Exposure to management and financial reporting for Real Estate funds
• A relevant bachelor degree and a Chartered Accountancy professional qualification is required
• Strong Microsoft Office skills are essential (MS Excel, MS PowerPoint and MS Word). VBA coding not required but advantageous;
• Strong technical accounting skills are an advantage (UK GAAP, US GAAP, IFRS and consolidation experience)
• A team player who can produce deliverables of a high quality and on - schedule
• Ability to work independently and proactively, can take on additional responsibilities
Location & Application details:
The role will be based at Blackstone offices at 40 Berkeley Square in London
Salary: competitive with market
Apply by sending a CV and cover letter to RecruitingEurope@blackstone.com (marking in the header of the email, 2017
Real Estate Finance AVP), we are accepting applications from 14th August 2017 – 11th September 2017
All qualified applicants will receive consideration for employment without regard to race, colour, religion, sex, age, disability, sexual orientation, national origin or any other category protected by law.