Blackstone Multi-Asset Investing (BXMA) - Total Portfolio Management, Real Estate Investment Associate

Blackstone • New York, NY

109d • $150,000 - $175,000 • Onsite

About The Position

Blackstone Multi-Asset Investing (BXMA) manages $101 billion across a diversified set of businesses, striving to generate attractive risk-adjusted returns for clients across market cycles. BXMA’s Total Portfolio Management business manages total portfolios on behalf of select clients, customized to client-specific objectives and aiming to outperform traditional portfolios through a long-term time horizon, flexible asset allocation, and robust portfolio construction. This role supports the underwriting, diligence, and execution of real estate investments within TPM portfolios, evaluating opportunities across diverse asset classes, structures, and geographies. The Associate will contribute to portfolio monitoring, investment theme identification, and idea generation, working closely with senior investment professionals and taking increasing ownership of deal evaluation and execution in a high-volume investment environment. The role requires operating across multiple live opportunities and portfolio workstreams in parallel, demonstrating strong prioritization, responsiveness, and attention to detail.

Requirements

• Bachelor’s degree in finance, real estate, economics, or a related field
• 3+ years of real estate private equity investing/acquisitions experience (experience across full diligence processes is a plus)
• Demonstrated financial modeling expertise, including experience underwriting real estate investments from the ground up and evaluating sponsor models
• Strong written and verbal communication skills, including drafting clear, structured investment memoranda
• Experience supporting or managing real estate diligence processes across multiple workstreams
• High attention to detail and working independently to deliver accurate, polished work in a fast-paced, high-volume environment
• Strong work ethic, responsiveness, and experience managing multiple priorities concurrently
• Collaborative mindset and strong sense of ownership; willingness to engage across both analytical work and execution-oriented tasks
• Interest in developing investment judgment over time within a team-oriented, portfolio-based investment platform
• A high level of professional integrity and professionalism

Nice To Haves

• Experience across full diligence processes is a plus

Responsibilities

• Support the underwriting and evaluation of real estate investment opportunities, including direct assets, joint ventures, co-investments, and funds
• Perform extensive due diligence on each transaction, travel to the properties, meet with partners, and underwrite markets and business plans
• Independently design and review financial models, perform sensitivity analyses, and identify key assumptions, risks, value drivers, and inconsistencies with limited oversight
• Oversee execution of transactions and participate in both internal and external client meetings and due diligence sessions
• Draft and iterate on investment committee memoranda, synthesizing complex business plans and diligence findings into clear, structured investment recommendations
• Track and analyze ongoing portfolio investments, including review of quarterly sponsor reporting, and managing sponsor relationships
• Prepare materials for internal investment discussions and client portfolio reviews
• Conduct market research and comparable analysis using third-party data sources to support underwriting and ongoing idea generation

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

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level