BXMA – Total Portfolio Management: Private Investments, Vice President / Principal

Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s over $1.3 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram. 

Business Unit Overview:  

Blackstone Multi-Asset Investing (BXMA) manages $101 billion across a diversified set of businesses. We strive to generate attractive risk-adjusted returns for our clients across market cycles. Our strategies include Absolute Return, Multi-Strategy, Total Portfolio Management, and Public Real Assets.

BXMA’s Total Portfolio Management business manages total portfolios on behalf of select clients (families and institutions). The portfolios are customized to client-specific objectives and aim to outperform traditional portfolios by embracing a long-term time horizon, flexible asset allocation, and robust portfolio construction. Total Portfolio Management’s open architecture approach combines external investments, private market strategies, direct investing and the Blackstone ecosystem. 

Job Description:

The incumbent will be a core investment professional within BXMA’s Total Portfolio Management (TPM) platform, responsible for diligence and execution across fund investments, co‑investments, and select direct investments. The role requires strong independent judgment, full ownership of diligence workstreams, and consistent delivery of investment‑committee‑ready analysis in line with Blackstone standards.

The incumbent will work closely with senior investment professionals and is expected to operate with high accountability, intellectual rigor, and attention to detail, while managing multiple parallel processes in a dynamic, institutional environment.

Key Responsibilities for this role include:

1. Fund Diligence & Evaluation

• Lead end‑to‑end diligence on private equity, venture capital and growth equity fund opportunities
• Conduct detailed analysis of:
  • GP organization, investment team, incentives, and governance
  • Track record attribution at both fund and deal level
  • Portfolio construction, underwriting discipline, and risk management
  • Fund terms, economics, alignment, and structural considerations
• Develop clear investment perspectives and recommendations grounded in data and qualitative diligence
• Comprehensive and detailed market mapping of sponsors and deals for competitive analysis and opportunity identification

2. Reference & Background Work

• Take responsibility for diligence, including:
  • Limited partners
  • Portfolio company executives and founders
  • Former partners, employees, and industry contacts
• Synthesize reference insights into decision‑oriented conclusions for senior investment professionals and ICs

3. Co‑Investments & Direct Investments

• Evaluate co‑investment and direct investment opportunities alongside external managers
• Perform company‑level diligence, including:
• Business model assessment and competitive positioning
• Growth drivers, unit economics, and scalability
• Downside risks, exit scenarios, and return sensitivities
• Support transaction execution, internal approvals, and post‑investment monitoring

4. Investment Committee Materials & Process

• Own preparation of investment committee memoranda, exhibits, and supporting analyses
• Ensure materials meet Blackstone standards for clarity, rigor, and concision
• Present analyses and recommendations to senior investment professionals and investment committees

5. Portfolio Monitoring

• Monitor existing fund and direct investments
• Review quarterly reports, valuations, capital activity, and GP communications
• Identify emerging risks, performance issues, and follow‑on considerations
• Contribute to portfolio reviews and strategic discussions across BXMA

Qualifications:

Blackstone seeks to hire individuals who are highly motivated, intelligent, have sound professional judgment, and have demonstrated excellence in prior endeavors.  In addition to strong analytical and time management skills, the successful candidate must meet the following qualifications:

• 6+ years of relevant experience, including:
  • Allocator experience at family office, endowment, foundation, pension, fund of funds
  • Buy‑side investing (VC, growth equity, private equity, or fund‑of‑funds)
  • Investment banking or consulting experience
• Demonstrated experience leading investment diligence and IC processes
• Strong understanding of private equity, venture and growth equity fund structures, economics, and return drivers
• Experience with co‑investments and/or direct investing preferred
• MBA and/or CFA a plus, but not required
• Exceptional analytical and problem‑solving skills
• Strong written and verbal communication, and experience distilling complex analysis for senior audiences
• Experience managing multiple workstreams under tight timelines, in a dynamic environment
• Relationship‑oriented mindset; network a plus with expectation to continue building over time
• Owns IC materials end‑to‑end
• Leads project and deal execution across funds and co‑investments with limited oversight
• Trusted to represent BXMA with external managers and counterparties

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:

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 and benefits offered in connection with the role consist of comprehensive health benefits, including but not limited to medical, dental, vision, and FSA benefits; paid time off; life insurance; 401(k) plan; and discretionary bonuses. Certain employees may also be eligible for equity and other incentive compensation at Blackstone’s 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.

To submit your application please complete the form below. Fields marked with a red asterisk * must be completed to be considered for employment (although some can be answered "prefer not to say"). Failure to provide this information may compromise the follow-up of your application. When you have finished click Submit at the bottom of this form.