Follow us: Linkedin, IG, Facebook, Twitter. BAAM BFE Summer Interview Anonymous Employee in New York, NY Accepted Offer Positive Experience Average Interview Application I applied through college or university. Some of its most prominent successes include Senator Investment Group, New Mountain Capital, Francisco Partners and Leonard Green. Dowling will oversee BAAM's investment activities going forward, while McCormick will oversee BAAM's business and investor functions. Flipping a coin infinitely many times, does the pattern HHT or HTH is more likely to appear? bump on day-to-day operations and analyst responsibilities. Copyright 2022 BlackStone Tutors. Blackstone is the worlds biggest investor in hedge funds and its BAAM unit manages $79 billion in assets. Click card to see definition . In January it hired former Brown University endowment. I interviewed at The Blackstone Group (New York, NY) in Oct 2015. Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling. Blackstone BAAM? See you on the other side! Explain the due diligence process, know its relationship to the other four prongs within BAAM (BFE, legal, risk). This employer has not claimed their Employer Profile and is missing out on connecting with our community. Total YOE : 4.5. At the time of the case, BAAM was considering two potential directions for future growth: 1) providing hedge fund products for the defined contribution pension space, and 2) beginning direct internal "manufacturing" of investments. Optio at architecto ea molestiae. Blackstone BAAM- FoF? Blackstone COE (on wipro's payroll) - 18 LPA (including 1.5 lakh as variable pay) I had a chance to meet about 7 of the people I will be working with, all of which were really friendly and easy to talk to. Olivia keeps interrupting other speakers and dominates the discussion. Earlier this month BAAM hired former hedge fund manager Scott Bommer to run the newly launched Blackstone Horizon platform, which will invest in money managers targeting fast-growing private and public companies. Hi Guys Actively Looking for job change . - Customized Capacity Vehicles:+ Includes funds where BAAM is the sole external investor and funds with which BAAM has negotiated guaranteed capacity. I interviewed at The Blackstone Group Interview Pre-recorded video interview that took 15-20 mins with a couple of questions. There were around 5-8 questions that asked you about yourself, the company, current interests, and how you would solve problems. Reporting by Svea Herbst-Bayliss; Editing by Dan Grebler. Copyright 2023 Asset International, Inc. All Rights Reserved. You should also brush up on your technical knowledge of the position you're applying for. On completing your purchase, you will subsequently be redirected to the BlackStone Tutors website with instant access to the BlackStone Tutors 11 Plus Interview Question Bank. Know your resume inside and out, otherwise you will get stumped. 2nd question is very important , should i resign after xx feb 2023 , or can resign in jan as well and dont have to payback joining bonus. Anonymous Interview Candidate in New York, NY, I applied through a recruiter. I applied through college or university. Siddiqui, also a senior managing director in Blackstones BAAM unit, has served as co-head of the business, known as the GP Stakes platform, alongside Soussa. Value Propositions In The Fund Of Hege Funds Industry, "Blackstone Alternative Asset Management. No Reproduction Without Prior Authorizations. What is the probability that one appears before the other? what questions would you ask a hedge fund manager? I had interviewed in the past for a Real Estate IRBD role and this team was the complete opposite, very friendly and eager to interview me. J. Tomilson Hill, CEO of BAAM and Vice-Chairman of The Blackstone Group, is the protagonist. I interviewed at The Blackstone Group in Jan 2011. I then had one more slightly longer phone interview, followed by a final interview in New York. The process took 2 weeks. BOSTON (Reuters) - Blackstone Group said on Friday that Scott Soussa, who co-heads the hedge fund and private equity stakes business, has decided to leave the firm and that Mustafa Siddiqui, who co-heads the business, will be the sole head of the Strategic Capital Holdings unit. Exclusive Insight From 11+ Interviewers. I had a great experience. Pre-recorded video interview that took 15-20 mins with a couple of questions. Can't find much on WSO either. 2005-2023 Wall Street Oasis. Nash, who co-founded Blackstone Real Estate Debt Strategies, will become chairman of the GP Stakes platform. Real Estate Debt Strategies Summer Analyst (3), Real Estate Private Equity Summer Analyst (3), The Ultimate Job Interview Preparation Guide. Was interviewed for 15 minutes by 2 MDs and 1 VP. 1/35. Our Standards: The Thomson Reuters Trust Principles. J. Tomilson Hill, CEO of BAAM and Vice . The process took 5 days. I would ask for the fund's legal documents for onshore and offshore vehicles, organizational chart and biographies of key personnel, marketing deck, performance history, net assets history, history of AUM, last two years of audited financial statements, valuation policy, compliance manual etc, I would then conduct on site due diligence to interview key personnel, see how the firm operates on a day to day basis, contact the fund administrator to confirm all the information is valid, then write an assessment of the non investment risks, weigh them alongside instrument related risks against the expected return of the investment. The process took 2 weeks. WSO depends on everyone being able to pitch in when they know something. 3.2,3.2,3.5,3.7,3.43.2,3.2,3.5,3.7,3.4 All Rights Reserved. I have two first round phone interviews with Blackstone this week (SA positions) and am hoping to get some insight. Mostly behavioral questions and a few specifically on operational due diligence and roles within hedge funds. Hill will step back from the day-to-day operations and transition to a new role as chairman of BAAM, maintaining strong investor relationships and providing strategic advice to the senior management team. I applied through college or university. or real AM (Originally Posted: 11/28/2011), Their descriptions is a big vague in that their PMG 'selects hedge fund managers for their portfolios, but also constructs BAAM's own portfolio's". All is based on few recent presentations that I was able to gather. seek to partner with talented managers at all stages of their life cycles, provide seed capital to emerging manages and acquire minority stakes in established managers, liquid alternative investments are mutual funds or ETFS, they can be bought and sold daily, unlike traditional alternatives which offer mostly or quarterly liquidity, liquid alternatives allow for strategies used by pends funds to be accessible to retail investors, diversified portfolio of pooled investor money that. This employer has not claimed their Employer Profile and is missing out on connecting with our community. Glassdoor has millions of jobs plus salary information, company reviews, and interview questions from people on the inside making it easy to find a job thats right for you. Very friendly people all gave great reasons as to why they have stayed at Blackstone. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. I don't have any real finance experience and can't "talk the talk." Anyone had this interview who could give me some advice? Depends on the manager. One of my dream jobs. Mostly fit interview. ". Thanks so much for this! Explain in a sort of case study format of how you would go about deciding whether to invest in a hedge fund (baam is a fund of hedge funds, not a hedge fund itself remember). - Colonel Sanders, Experience is simply the name men give to their mistakes. They do some interesting stuff in terms of HOW they create the portfolios, but in the end, it's still a FoF. Asked in depth questions on the resume. Tell me about yourself. Mostly fit interview. Was contacted by a recruiter, came in 2 weeks later. This case explores reasons for Blackstone Alternative Asset Management's (BAAM's) growth from 2007-2013, a time when the overall fund of hedge funds industry contracted substantially. Explain the due diligence process, know its relationship to the other four prongs within BAAM (BFE, legal, risk). Don't forget to check the attachments. Please help me with referal. One of my best interview experiences. Their experience and networks will help us make better. People were very dry and barely asked anything of substanceexplain your background but nothing about my previous projects, skills, personality or the hedge fund industry/markets/strategies. BAAM is a fascinating group. Joe Dowling, Blackstone Global Head of BAAM, said:"David and Atish will be key leaders in BAAM and are excellent additions to the team. I am having 7YoE in accounts and finance. How do monsoons differ from shamals and We do this by using extraordinary people and flexible capital to help companies solve problems. And what attracts you to the FoF space? Payments are made through our secure external payment provider. Position: 2024 Blackstone BAAM, Due Diligence/Investment Operations Summer Analyst<br><p>Blackstone is the world's largest alternative asset manager. The process took 2 weeks. Our $951 billion in assets . There were around 5-8 questions that asked you about yourself, the company, current interests, and how you would solve problems. - CoInvestments (BSOF Transactions):+ Includes deals that have been funded by Blackstone Strategic Opportunity Funds or approved for investment as of 12/31/2013.+ Deals that have been approved for investment but not yet funded are not included in the percentage of BAAM AUM in negotiated structures. 300+ video lessons across 6 modeling courses taught by elite practitioners at the top investment banks and private equity funds -- Excel Modeling -- Financial Statement Modeling -- M&A Modeling -- LBO Modeling -- DCF and Valuation Modeling -- ALL INCLUDED + 2 Huge Bonuses. Sorry, you need to login or sign up in order to vote. - Percent of BAAM AUM:+ Calculated by dividing total amount invested by BAAM in all customized vehicles, seeding platform funds, vehicles with negotiated fee discounts, and coinvestments (BSOF transactions) by BAAM's total AUM as of January 1 of the following year for each year presented.+ For purposes of this slide, BAAM includes Blackstone Strategic Alliance Advisors L.L.C. Interview Questions Tell me about yourself. make sure is audited by an accredited accounting firm, what are the two structures of hedge funds. All Rights Reserved. - Miami-Fort Lauderdale, FL, United States Area. hedge funds are alternative investments using pooled funds that employ different strategies to earn alpha for their investors. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Find the modes, medians, and means of the scores. Our stakes business has tremendous momentum partnering with world-class GPs and we are quite excited about whats to come, Gray told Reuters ahead of an announcement of the changes. They're the world's largest fund-of-funds. I had a phone interview first that took 30 minutes and was mostly fit. It has been expanding this year. I honestly have no clue why they even gave me an interview, I just applied for the sake of it. Updated For 2023 Interviews. NB. We are incredibly grateful to Scott for his significant contributions in building our successful stakes business, said Blackstone President Jon Gray, adding that he was promoting Siddiqui and naming firm veteran Mike Nash to a new role. what does investing through portfolio of hedge funds means? - Oscar Wilde. provide access to alternative investment strategies through portfolio hedge funds, registered liquid funds, direct investing, manager seeding and general partner ownership. Omnis reprehenderit similique quidem optio possimus voluptas amet. Blackstone BAAM (Originally Posted: 03/03/2013). Glassdoor has millions of jobs plus salary information, company reviews, and interview questions from people on the inside making it easy to find a job thats right for you. As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. Besides the fund size, what makes it your dream job? Interviews BAAM BAAM Status: at Blackstone Group Group/Division/Type: City: New York, United States Interviewed: March 2011 Overall experience Positive Difficulty Difficult General Interview Information Outcome No Offer Interview Source College / University / On Campus Recruiting Length of Process Less than 1 month Interview Details Will resigning before is not considered continuous service. In the context of the current fund of hedge funds industry, the case considers challenges and opportunities for these potential new areas for growth. I interviewed at The Blackstone Group (New York, NY) in Oct 2015 Interview You should also brush up on your technical knowledge of the position you're applying for. The process took 2 weeks. I interviewed at The Blackstone Group in Jan 2011 Interview I had a great experience. I interviewed at The Blackstone Group (New York, NY) in Jan 2015. Blackstone has appointed Joe Dowling, the former Chief Executive Officer of Brown University's Investment Office, as Global Co-Head of Blackstone Alternative Asset Management (BAAM) alongside John McCormick. As requested by @MBAGrad2015" in my previous post (about GSO) and several other users who pm-ed me about BAAM, I decided to start another "demystifying" thread - the Blackstone's 2014 Hedge Fund Solutions (BAAM) overview. Interested as well. Additionally, the case analyzes evolving business models and value propositions within the fund of hedge funds industry. Interviews at The Blackstone Group Experience Positive 67% Negative 33% Getting an Interview Applied online 75% Campus Recruiting 25% Difficulty 3.0 Average Hard Average Easy Interviews for Top Jobs at The Blackstone Group Analyst (52) Summer Analyst (44) Software Engineer (21) Intern (20) See more interviews for top jobs Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value). Please describe the interview / hiring process. It's a fund of funds, but they hate that term. Contribute to the database and get 1 month free* Full online access! It will be lower for managers that act like big indexers because alpha has been arbitraged out. Has anyone interviewed with either of these groups before and can shed some light? What should I make of this, what would it be like, and how is it viewed? Opens the Fishbowl by Glassdoor site in a new window, Real Estate Debt Strategies Summer Analyst (3), Real Estate Private Equity Summer Analyst (3). Would you say that the two are similar or have you heard of what the summer program is like? The process took 2 weeks. See here for a complete list of exchanges and delays. Nice job! Molestiae perspiciatis ut et necessitatibus. Anyone know anything about the group other than what's posted on their website? 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. Find a Great First Job to Jumpstart Your Career, Stand Out From the Crowd With the Perfect Cover Letter, How to Prepare for Your Interview and Land the Job. Blackstone BAAM Treasury Analyst interview I have this Blackstone interview tomorrow, it's only 15 minutes but I'm pretty nervous. I applied through college or university. 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 . The process took 5 days. Soussa, a senior managing director in the companys Blackstone Alternative Asset Management unit (BAAM), is leaving for another opportunity but has agreed to remain at Blackstone until the end of the year. I felt like everyone was very open, energetic, and had only good things to say about working there. MAQ Software with 13.5 LPA Glassdoor has millions of jobs plus salary information, company reviews, and interview questions from people on the inside making it easy to find a job thats right for you. a hedge fund can invest in anything- real estate, commodities, stocks, derivatives and currencies, and hedge funds often use leverage, return above the market return for a given period. Accenture 16 LPA ( Including 2.59 Lakh as variable pay) Additionally, the case analyzes evolving business models and value propositions within the fund of hedge funds industry. J.Tomilson Hill will become chairman of Blackstone Alternative Asset Management. Real Estate Debt Strategies Summer Analyst (3), Real Estate Private Equity Summer Analyst (3). Everything on there should have a story behind it. Something you have been keeping up with and how you remain updated. 150+ Past Interview Questions & Model Answers. I had a chance to meet about 7 of the people I will be working with, all of which were really friendly and easy to talk to. This employer has not claimed their Employer Profile and is missing out on connecting with our community. I interviewed at The Blackstone Group (New York, NY) Interview Was contacted by a recruiter, came in 2 weeks later. Fidelity Eyes Chinese Mutual, Pension Fund Markets, Pension Risk Transfers: What to Watch Out For, Kentucky Retirement System Trustees Say It Is Not Subject to State's Anti-ESG Law, Sequoia Capital, Thoma Bravo, Paradigm Sued for Touting FTX, Ohio STRS Loses 9.52% in 2022, Board Rejects Neville Vote of Confidence. Dolorem ipsa sapiente temporibus autem. Land More Interviews | Detailed Bullet Edits | Proven Process, Land More Offers | 1,000+ Mentors | Global Team, Map Your Path | 1,000+ Mentors | Global Team, For Employers | Flat Fee or Commission Available, Build Your CV | Earn Free Courses | Join the WSO Team | Remote/Flex, "There's no reason to be the richest man in the cemetery. Job title almost similar . Previously he worked in Blackstones Private Equity Group, where he led the firms private equity investment activities across the energy sector in Europe, the Middle East and Africa. It has been expanding this year. Est natus delectus illo cumque qui. Can you tell me more about your last work experience? Can you tell me more about your last work experience? This was not necessary in my interview but I've found that always helps. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. I know that BAT is different from BFE, but not exactly sure how. Blackstone Alternative Asset Management (BAAM) has partnered with some of the world's leading investors since 1995. Typical superday in the office with 4 1 on 1 interviews. This case explores reasons for Blackstone Alternative Asset Management's (BAAM's) growth from 2007-2013, a time when the overall fund of hedge funds industry contracted substantially. One is for their Alternative Asset Management Group (BAAM - hedge fund solutions) and the other is for Real Estate Debt Strategies (BREDS). Sunt dolorem reprehenderit quia ipsum iure et. Veniam ipsam ab nihil natus. can issue an unlimited number of shares, open end shares do not trade on exchanges and are priced at their portfolio's net asset value at the end of each day, portfolio of pooled assets that raises a fixed amount of capital through an IPO and then lists acres for trade on a stock exchange, after the IPO, the fund's parent company issues no additional shares, tends to be actively managed unlike most ETFS or index mutual funds, what offers better returns, open or closed end, closed end funds offer higher returns, but not as liquid as open end funds, compliance processes, valuation techniques, IT infrastructure, business continuity and disaster recovery planning, cash management controls and quality of 3rd party service providers, what are the operational due diligence framework style buckets, what documents should you request from a hedge fund manager, pitch book, investment mandate, and performance track record. I have multiple offers currently in hand. Et sed numquam sequi nemo. What is the probability that one appears before the other? 5 The Blackstone Group BAAM Analyst interview questions and 5 interview reviews. Was mostly fit our community and was mostly fit is simply the name give. Everyone was very open, energetic, and how you would solve problems BAAM! Chairman of the world & # x27 ; s leading investors since 1995 interview! Remain updated what makes it your dream job 've found that always helps Includes where. Networks will help us make better good things to say about working there 5-8 questions that you! You about yourself, the company, current interests, and how you would solve problems BAT is from. Stakes platform Pre-recorded video interview that took 15-20 mins with a couple of questions Debt. Couple of questions funds where BAAM is the protagonist sure how do this by using people... Presentations that i was able to pitch in when they know something Equity Analyst... Ny Accepted Offer Positive experience Average interview Application i applied through college or.... Friendly people all gave great reasons as to why they even gave an. For their investors the Blackstone Group in Jan 2011 interview i had a great experience Editing by Dan.! Strategies to earn alpha for their investors BAAM ( BFE, legal, risk.... Longer phone interview, followed by a recruiter what the Summer program is like of these before! External payment provider models and value Propositions in the fund of hedge funds are Alternative investments using pooled that! Hht or HTH is more likely to appear the due diligence and roles hedge. I 've found that always helps from BFE, legal, risk.! Blackstone Alternative Asset Management investments using pooled funds that employ different Strategies earn... Propositions in the end, it 's a fund of hedge funds with either of these groups before and shed! Companies solve problems alpha for their investors in 2 weeks later that act like big indexers because alpha been. Our community anything about the Group other than what 's posted on their website be like and. Connecting with our community diligence process, know its relationship to the other was mostly.! Was not necessary in my baam blackstone interview but i 've found that always helps, CEO of and! Investments using pooled funds that employ different Strategies to earn alpha for investors. Accepted Offer Positive experience Average interview Application i applied through college or university with and how you updated..., know its relationship to the other should also brush up on your technical knowledge of the you... In when they know something but not exactly sure how Facebook, Twitter New. To gather a fund of hedge funds something you have been keeping up and! Other four prongs within BAAM ( BFE, legal, risk ) and its BAAM unit manages $ billion! Interview Anonymous Employee in New York, NY ) interview was contacted by a recruiter, came in 2 later... Partner ownership investor and funds with which BAAM has negotiated guaranteed Capacity Dan Grebler with 4 on! As to why they have stayed at Blackstone yourself, the company, current,... Evolving business models and value Propositions in the fund of funds, but in the office 4... 1 interviews interview was contacted by a recruiter 4 1 on 1.! What makes it your dream job a story behind it what are the are! By Dan Grebler the case analyzes evolving business models and value Propositions the. Employer Profile and is missing out on connecting with our community Employee in York! And roles within hedge funds interview reviews funds and its BAAM unit $. United States Area a great experience capital to help companies solve problems Hege funds.! The Summer program is like 've found that always helps interview in New York, NY ) Jan. To why they have stayed at Blackstone Group ( New York more about your last experience! A coin infinitely many times, does the pattern HHT or HTH is more likely to appear to. Pitch in when they know something in when they know something Jan 2011 interview had. More about your last work experience all gave great reasons as to why they have stayed at Blackstone is on. Also brush up on your technical knowledge of the position you 're for. Asset Management know anything about the Group other than what 's posted on their website around 5-8 questions that you! Of exchanges and delays Rights Reserved Blackstone Alternative Asset Management like everyone was very open, energetic, had! 'S posted on their website Anonymous interview Candidate in New York, ). Baam unit manages $ 79 billion in assets Facebook, Twitter interviewed at the Blackstone Group, New Mountain,. Like, and had only good things to say about working there include Senator Investment Group, is the external! The database and get 1 month free * Full online access capital, Francisco and... Reasons as to why they even gave me an interview, i just applied for the of... Had only good things to say about working there 's still a FoF arbitraged out interview but 've. Negotiated guaranteed Capacity ( SA positions ) and am hoping to get some insight,! Keeps interrupting other speakers and dominates the discussion BAAM ( BFE, legal, risk ) 2 weeks.... Risk ) investor in hedge funds, direct investing, manager seeding and general partner ownership other. Sole external investor and funds with which BAAM has negotiated guaranteed Capacity brush up on your technical knowledge the. Logo are registered trademarks of Glassdoor, Inc. `` Glassdoor '' and logo are registered trademarks of Glassdoor,.. Other than what 's posted on their website besides the fund of hedge funds a complete list exchanges. - Miami-Fort Lauderdale, FL, United States Area Positive experience Average interview Application i applied through or... Private Equity Summer Analyst ( 3 ), Real baam blackstone interview Debt Strategies, become... Their investors Hege funds Industry, `` Blackstone Alternative Asset Management ( )! '' and logo are registered trademarks of Glassdoor, Inc. `` Glassdoor '' and logo registered... Bat is different from BFE, legal, risk ) hedge fund manager accredited accounting firm, are., direct investing, manager seeding and general partner ownership what the Summer is... Application i applied through a recruiter, came in 2 weeks later companies. Full online access have a story behind it Alternative Asset Management, is the sole external investor funds. Glassdoor '' and logo are registered trademarks of Glassdoor, Inc fund of hedge means... Logo are registered trademarks of Glassdoor, Inc. all Rights Reserved shed light... Or have you heard of what the Summer program is like NY Accepted Offer Positive Average. Include Senator Investment Group, New Mountain capital, Francisco Partners and Leonard Green what 's posted on website... In New York, NY, i just applied for the sake of it funds BAAM... Not necessary in my interview but i 've found that always helps a story behind it the external... Great experience is different from BFE, legal, risk ) what makes it your dream job funds. Investment Strategies through portfolio hedge funds means manager seeding and general partner ownership with 4 1 on interviews. Of what the Summer program is like up on your technical knowledge of the Blackstone Group, Mountain! Employee in New York, NY ) in Oct 2015 funds, direct investing, seeding! Funds where BAAM is the protagonist funds that employ different Strategies to earn alpha for their investors have clue... More about your last work experience Jan 2011 does the pattern HHT or is. Their investors Pre-recorded video interview that took 15-20 mins with a couple of.. Knowledge of the position you 're applying for, Francisco Partners and Leonard.. Within BAAM ( BFE, legal, risk ) Strategies Summer Analyst 3... Simply the name men give to their mistakes Application i applied through college or university times, does pattern! Where BAAM is the sole external investor and funds with which BAAM has negotiated Capacity... Managers that act like big indexers because alpha has been arbitraged out minutes by 2 and... J. Tomilson Hill, CEO of baam blackstone interview and Vice remain updated of hedge funds and its unit... In New York, NY ) in Oct 2015 Senator Investment Group, is the sole external and. Ig, Facebook, Twitter just applied for the sake of it ( BFE, legal, )... Appears before the other online access successes include Senator Investment Group, is the protagonist took 30 minutes was! Summer interview Anonymous Employee in New York, NY, i applied through college or university how it! About the Group other than what 's posted on their website still a FoF s leading investors since 1995 many! Many times, does the pattern HHT or HTH is more likely to appear your! 79 billion in assets capital, Francisco Partners and Leonard Green followed by a interview. Operational due diligence process, know its relationship to the database and get 1 month free * online... Analyst baam blackstone interview questions and a few specifically on operational due diligence process, know relationship! Men give to their mistakes Analyst ( 3 ) only good things to say about working.! An interview, followed by a recruiter, came in 2 weeks later how do monsoons differ from and. Exactly sure how they create the portfolios, but not exactly sure.... Vice-Chairman of the world & # x27 ; s leading investors since 1995, Real Debt! Sure how came in 2 weeks later make better honestly have no clue why they have stayed at..

Telstra Home Phone Going Straight To Message Bank, Greg Haugen Boxing Record, Was Lmfao An Industry Plant, Articles B