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SalaryAbout this role
BlackRock’s Global Credit business manages well over $100 billion in assets across high yield, leverage loans, CLOs, middle market private debt, opportunistic and distressed strategies. With funds dedicated toward both public and private opportunities, we seek to achieve attractive risk-adjusted returns across a variety of strategies and geographies. The Global Credit team leverages the depth and breadth of the platform to create differentiated offerings for clients and increasingly collaborates with clients to deliver customized investment solutions spanning the credit spectrum.
The Core Portfolio Management team (“Core PM”) is responsible for implementing investment decisions across credit products, while also providing oversight of the governance model and adherence to BlackRock investment best practices.
BlackRock is seeking a dedicated professional to join its Private Credit Core PM team focused on overseeing the ongoing management of complex credit mandates and collaborating with teams across the platform, including investment professionals, product strategists, and business operations to deliver differentiated target outcomes for our clients. Specific responsibilities include, but are not limited to:
Responsibilities:
- Work closely with senior portfolio managers to calculate and coordinate investment allocations for all funds on the platform and confirm adherence to Allocation Policy (e.g. investment guideline compliance, portfolio construction targets, etc.)
- Create and maintain daily, monthly, and periodic portfolio reporting for investment teams (position level details, available capital, forecast of cash flows, incorporate PM views into portfolio implementation, maintain compliance reporting against investment guidelines)
- Complete pre-trade compliance checks across all portfolios and mandates (e.g. check side letters and/or IMAs to confirm potential investment does not breach any agreed terms or investment guidelines)
- Develop and maintain relationships with key BlackRock operational professionals (e.g., legal, tax, trading operations, portfolio compliance, pricing, cash ops, bank loans, derivative operations and fund administration)
- Anticipate and resolve operational issues arising during the evolving investment processes (e.g., trade execution, settlement, portfolio compliance, hedging, etc.)
Deal and fund management
- Model, monitor, and document portfolio allocations and coordinate internal approvals
- Monitor and track fund & investment level deployment and performance metrics (e.g. IRR and MOIC)
- Liaison with legal and compliance with regards to investment allocations and certifications for 1940 Act board approvals prior to closing deals
- Partner with Product Strategy and Relationship Managers in response to prospective and existing clients’ inquiries on items such as fund track record/performance, current holdings, and the investment pipeline
- Analyze and provide quarterly write ups on fund performance, including the drivers of specific investments’ performance
Cash management
- Monitor liquidity for all private funds, including cash forecasting, borrowing capability, and dry powder.
- Recommend distributions and capital calls to portfolio managers
- Oversee the ongoing management of subscription lines and leverage facilities to ensure they are used optimally
- Partner with operations and investment analysts to ensure correct booking of interest payments, repayments of capital, and fee collection from underlying investments and through portfolio structure
Qualifications:
- Strong academic background and ideally 4+ years of private markets experience
- Self-motivated with ability to operate with modest oversight
- Strong organizational and project management skills
- Candidate must be comfortable owning the spectrum of oversight functions for credit mandates, including Portfolio Management overlays and operational procedures
- Strong attention to detail and ability to multi-task
- Candidate must be able to collaborate extensively across teams and think innovatively around ways to improve existing processes
- Proficiency in Microsoft Excel, including knowledge of advanced functions (knowledge of VBA is not required, but will be viewed positively)
- Experience with Aladdin software will be viewed positively
- Experience with leveraged finance, Direct Lending, closed-ended Portfolio Management or structed product will be viewed positively
- Experience in Python, R, and SQL will be viewed positively, but not required
For California and New York City only the salary range for this position is $115,000 – $147,500. Additionally, employees are eligible for an annual discretionary bonus, and benefits including heath care, leave benefits, and retirement benefits. BlackRock operates a pay-for-performance compensation philosophy and your total compensation may vary based on role, location, and firm, department and individual performance.
Our benefits
To help you stay energized, engaged and inspired, we offer a wide range of benefits including a strong retirement plan, tuition reimbursement, comprehensive healthcare, support for working parents and Flexible Time Off (FTO) so you can relax, recharge and be there for the people you care about.
Our hybrid work model
BlackRock’s hybrid work model is designed to enable a culture of collaboration and apprenticeship that enriches the experience of our employees, while supporting flexibility for all. Employees are currently required to work at least 4 days in the office per week, with the flexibility to work from home 1 day a week. Some business groups may require more time in the office due to their roles and responsibilities. We remain focused on increasing the impactful moments that arise when we work together in person – aligned with our commitment to performance and innovation. As a new joiner, you can count on this hybrid model to accelerate your learning and onboarding experience here at BlackRock.
About BlackRock
At BlackRock, we are all connected by one mission: to help more and more people experience financial well-being. Our clients, and the people they serve, are saving for retirement, paying for their children’s educations, buying homes and starting businesses. Their investments also help to strengthen the global economy: support businesses small and large; finance infrastructure projects that connect and power cities; and facilitate innovations that drive progress.
This mission would not be possible without our smartest investment – the one we make in our employees. It’s why we’re dedicated to creating an environment where our colleagues feel welcomed, valued and supported with networks, benefits and development opportunities to help them thrive.
