Blackstone Private Wealth - Defined Contribution, Principal

Blackstone • New York, NY

21d • $200,000 - $250,000

About The Position

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 $1.1 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. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X, and Instagram. Blackstone Private Wealth was established to address the growing demand for Blackstone products from high-net worth investors. Partnering with many of the world’s largest private banks and wealth management firms as well as family offices, Blackstone’s Private Wealth team packages and delivers the full breadth of Blackstone’s alternative product capabilities to these firms and their clients and provides ongoing product and advisor support, as well as education and training around alternative investments. We leverage the global scale platforms across Private Equity, Secondaries, Real Estate, Infrastructure, Credit, Tactical Opportunities and Hedge Fund Solutions to structure single asset class and multi-asset solutions to fit into clients’ asset allocation and portfolio construction objectives. Blackstone manages nearly $290 billion of capital from Private Wealth clients. Blackstone Private Wealth is globally positioned, with offices in New York, London, Zurich, Paris, Singapore, Hong Kong and Tokyo. Blackstone’s Defined Contribution (“DC”) business was recently established within Blackstone Private Wealth. The Blackstone DC team is developing a suite of products tailored for DC Plans (e.g. 401(k) plans) across private equity, private real estate, infrastructure and private credit. Blackstone DC will interact across the retirement ecosystem, including with wealth management firms, consultants, plan sponsors and recordkeepers. Roles and Responsibilities: Product Specialists in Private Wealth play an integral role in providing investment detail to clients and internal stakeholders. They cover the entire product lifecycle, from development through deployment and return-of-capital. They provide domain expertise on investments, performance, market dynamics and competitors. The Product Specialist is a proven, value-add role across credit, private equity, and real estate platforms at Blackstone. Product Specialists work with key internal and external stakeholders, including Blackstone investment teams, Private Wealth sales professionals, various due diligence teams, financial advisors, and end-clients. The Product Specialist will focus on Blackstone’s DC strategies and products. They will directly cover the relevant strategies/products, including Collective Investment Trusts (CIT’s) that invest in Blackstone’s perpetual products (Private Equity, Real Estate, Private Credit, Infrastructure); as well as future co-manufactured products designed for DC plans, including Target Date Funds and Advisor Managed Accounts. To be successful, the Product Specialist will:

Requirements

• In addition to a minimum of 15+ years of experience in investment banking, asset management, consulting or wealth management, the successful candidate should meet the following qualifications:
• Deep experience in the Defined Contribution market with extensive relationships across the U.S. retirement ecosystem (e.g. retirement home offices/advisors; asset managers; consultants; recordkeepers). Experience with private markets products preferred.
• Strong interpersonal, analytical, organizational, and problem-solving skills.
• Excellent organizational skills: builds deep and trusting relationships with colleagues.
• Desire to work in a collaborative, team-based environment.
• Creative and articulate; effectively understands and conveys complex concepts.
• Demonstrated and effective writing skills.
• Strong communication and presentation skills.
• Management experience.
• Strong commercial orientation with demonstrated client relationships and success, especially within the Defined Contribution ecosystem, ideally with a focus in the wealth market with wirehouses, RIAs and aggregators.
• Talented storyteller who articulates strategy effectively to audiences with varying degrees of investment sophistication.
• Self-starter - takes initiative, ownership and accountability.
• Familiarity with markets, securities, investment strategies, private markets and the relevant regulatory framework.
• Willingness to travel for in-person client engagement.

Nice To Haves

• MBA and/or CFA preferred but not required.

Responsibilities

• Partner with investment teams and various internal stakeholders to develop and execute sales strategies across products and client segments – including content, messaging, competitive landscape, and product positioning.
• Provide ongoing real-time product, investment and market updates to the sales teams, external advisors, end-clients, portfolio managers and other key stakeholders.
• Lead the creation and delivery of targeted educational programming for Private Wealth professionals and key external partners to deepen expertise in Blackstone DC-focused products and strategies.
• Develop and maintain high-impact content tailored to Private Wealth and DC channels – including monthly updates and commentary, quarterly fund reviews, investment themes, investment activity and deal updates, and various ad-hoc client requests.
• Work across Private Wealth and DC business functions in supporting product initiatives such as Marketing, Sales, Investor Services, Product Strategy and Business Development.
• Establish and maintain symbiotic relationships with the Private Wealth and DC sales organizations to raise capital into the Defined Contribution / CIT products.
• Develop and maintain business relationships with major broker dealers, RIA’s and key partners for our DC products (e.g. Trustees, Asset Managers, Recordkeepers); Research competitive landscapes across alternative asset classes, strategy types, and product structures.

Benefits

• comprehensive health benefits, including but not limited to medical, dental, vision, and FSA benefits
• paid time off
• life insurance
• 401(k) plan
• discretionary bonuses
• Certain employees may also be eligible for equity and other incentive compensation at Blackstone’s sole discretion.

What This Job Offers

• Job Type: Full-time
• Career Level: Principal
• Education Level: No Education Listed
• Number of Employees: 251-500 employees