For International Women’s Day this year, Private Equity Wire spoke to Meryem Bensaid, a Principal at Blackstone, and Private Equity Wire’s sister title Hedgeweek spoke to Trudi Usher Boardman, Head of Hedge Funds at Pictet Alternative Advisors.
Tell us a bit about your background and how you got into private equity.
I was born and raised in Morocco. At the age of 17, I moved to France to pursue my studies with a strong emphasis on mathematics and sciences. This eventually led me to L’École Polytechnique, where I had the chance to learn about business and enjoyed this part of the course. During my studies, I had the opportunity to dive into the world of private equity through internships starting at Astorg and later at Bpifrance. What captivated me was the perfect blend of intellectual challenge, the need for analytical rigour and seeing the very tangible, positive impact that the industry has on companies.
After graduating in 2014, I joined Blackstone and was hooked from the start. Working with smart people in such a diverse environment has been a privilege. Along the way, I’ve built friendships, engaged with exceptional managers and gained insights into the success stories of many companies across Europe. Today, I’m a Principal in the private equity team based in London. My focus spans media, consumer internet, financial services, and education. It’s a role that not only keeps me on a continuous learning curve but also allows me to actively contribute to exciting projects. I’m grateful for the journey that brought me here and excited about what’s next.
It’s historically been a male-dominated industry – are there any challenges you’ve faced on your way up?
The private equity industry has traditionally been male-dominated, presenting certain challenges. Personally, I consider myself fortunate to have been part of a team and company like Blackstone that recognises the hurdles faced by women, especially those juggling the responsibilities of motherhood. At Blackstone, I’ve received support and guidance from remarkable women through mentoring, networking and various training opportunities. While I’ve felt supported, it’s evident that the industry as a whole is still evolving in terms of gender diversity. Progress is being made, but there’s a collective responsibility to continue improving.
Becoming a mother has heightened my awareness of the importance of diversity in our industry. As I navigate motherhood, I am more focused on advocating for increased opportunities for women in an industry that I am proud to be a part of.
A significant aspect of my job and something that I cherish is identifying and supporting emerging talent. Actively participating in Blackstone’s Women’s Initiative, which is aimed at attracting and retaining women within the firm, is both fulfilling and essential. It serves not only as a support network but also as a platform for like-minded individuals who try to balance a family life with a career in our often intense industry.
What advice would you give to someone just starting out in private equity to help them succeed?
A career in private equity can be hugely rewarding with the right mindset. Firstly, learn to be patient and don’t be afraid to invest time upfront to grasp the fundamentals. If you can’t explain something clearly, it likely means you don’t fully understand it yet. Secondly, be curious and embrace your critical thinking; it’s one of the best parts of the job. The most effective analysts ask the right probing questions and actively seek out answers. Thirdly, be reliable and dependable to your team — learn to take ownership of your work. Finally, be resilient, as there will be challenging periods ahead. Persevering through them will make you stronger and you will go much further than you ever thought you could.
What are some of the recent deals you’ve been involved with?
Last year, we announced — alongside Permira — the multi-billion euro take-private of the world’s leading online classifieds company, Adevinta. This company operates market-leading platforms including Leboncoin, Mobile and Kleinanzeigen. I feel hugely fortunate to be part of the deal team here and it’s rewarding to see a deal come to fruition when so much work and time has gone into it. I was also part of the team who led Blackstone’s acquisition of a €1bn majority stake in Baltic bank Luminor, where we help local businesses and support economic growth across the Baltics. I also serve as a Board Observer at Clarion Events, one of the UK’s largest international events companies.
What’s the outlook for deal-making this year, are there any sectors you are watching particularly closely? Are there any trends or sub-sectors within this that you are particularly interested in?
While 2023 saw some dealmaking headwinds, we are cautiously optimistic that activity will pick up this year. Key sectors I have been watching closely include consumer internet and fintech – industries benefiting from strong digital and transition tailwinds. Online marketplaces and classifieds are an area I’m closest to, especially given my recent work on Adevinta. I am also interested in understanding the impact of AI on the sectors I cover. It will transform the way many businesses operate and can present an immense opportunity.
Meryem Bensaid, Principal, Blackstone – Meryem Bensaid is responsible for the sourcing and execution of deals in the media, information services, education and financial services. Meryem joined Blackstone in 2014 as an Intern. She previously gained internship experience at French public sector investment bank Bpifrance and private equity firm Astorg Partners. Meryem holds a BS in Engineering from L’École Polytechnique, a MSc in Quantitative Economics and Finance from HEC Paris and an MSc in Civil Engineering and Industrial Economics from Mines Paris.
