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

About the role

Blackstone Multi-Asset Investing (BXMA) manages $101 billion across a diversified set of businesses. 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.

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 manage 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

Qualifications

• Highly motivated, intellectually curious, and demonstrated excellence in prior endeavors
• Strong analytical and quantitative skills
• 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 demonstrated independence in delivering accurate, polished work in a fast-paced, high-volume environment
• 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

Competencies

• Analytical rigor and attention to detail
• Ownership mentality and accountability
• Effective communication with both technical and non-technical stakeholders
• Strong organizational and execution skills
• Comfort operating in a flexible, less-structured investment environment with varied deal types and asset classes
• Highly receptive to feedback; quickly incorporates edits and increasingly internalizes key investment frameworks over time
• Sound judgment and risk awareness

Pay

Expected annual base salary range: $150,000 - $175,000

Schedule

Full-time