Real Estate Finance – Core+ Real Estate Financial Reporting & Operations, Associate

Blackstone is the world’s largest alternative asset manager. 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 $ trillion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis.

Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has US $320 billion of investor capital under management. Blackstone is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, data centers, residential, office and hospitality. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ business invests in substantially stabilized real estate assets globally, through both institutional strategies and strategies tailored for income-focused individual investors including Blackstone Real Estate Income Trust, Inc. (BREIT). 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).

Role and Responsibilities

• The Firm is looking to recruit an Associate to work as part of the Financial Reporting & Operations team covering Blackstone’s Core+ real estate funds; primarily focusing on Blackstone Property Partners Europe (“BPPE”).
• The Associate will be an integral member of the Real Estate Finance team in London focusing on financial reporting and operations.
• The focus of the team is to produce timely and accurate financial information for reporting to investors, other external and internal stakeholders.
• The team aims for best-in-class business partnering with all Blackstone Real Estate departments including Business Strategy, Asset Management, Transactions, Capital Markets and Investor Relations.
• The Associate will have the opportunity to participate in an array of projects and will be expected to assume a key role on the team.

Distributions

• Act as project lead for the quarterly distribution cycle.
• Critically challenge local accountants on cash available for distribution.
• Coordinate with internal stakeholders, including tax and asset management, for review and approval of distributions.
• Manage the FX trade and cash flow process to ensure timely payments to investors.
• Prepare high-quality analysis for reporting to senior management.

Bond Programme

• Manage operations of BPPE’s bond programme, Blackstone Property Partners Europe Holdings (“BPPEH”).
• Track and report debt and interest allocations to investments.
• Oversee production of biannual financing statements and audit.
• Support the annual credit rating process.

FP&A

• Support with Revantage with the preparation and senior review of the quarterly P&L of investments.
• Collaborate across funds and geographic regions to enhance consistency and automation of reporting.

Cash management

• Monitor the cash and liquidity position of investments to support effective working capital management, including maximising interest income through effective use of treasury instruments / deposits.

Business Partner

• Be a trusted business partner to various internal stakeholders, producing high-quality, insightful analysis, both recurring and ad-hoc, to support decision making of the asset management and fund strategy teams.

Automation

• Identify and lead development of improvements to existing processes and implementation of technology initiatives.

Valuations

• Work closely with the Valuation team to ensure timely and accurate investment level financial information is included in the Fund’s NAV.

Managerial experience

• Oversight and review of activities performed by Revantage Luxembourg and leading efforts to increase the use of the Centre of Excellence team in India.

Qualifications

• Degree qualified, plus ACA / ACCA (or local equivalent qualification) or CFA.
• Prior experience in real estate and / or asset management sectors is a significant advantage.
• Strong analytical and financial skills, including strong knowledge of finance and accounting and excellent Excel expertise.
• Experience of using technology to deliver process improvements or automation is an advantage.
• High motivation and ability to work independently and manage numerous, conflicting priorities and requests.
• Confidence to build relationships and be a key contact point for a range of senior stakeholders.
• Inquisitive mindset that seeks to fully understand, be accountable for, and improve delivery of their responsibilities.
• Willingness to take on additional projects and support others in the department outside their direct responsibilities.

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. 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.