What are the responsibilities and job description for the Associate, Opportunistic Credit - Investment Professional position at BlackRock?
About This Role
About BlackRock Private Credit
BlackRock has built industry-leading private credit capabilities over the past 20 years, seeking to deliver attractive results throughout market cycles. Our platform provides a whole portfolio approach to investing across the risk/return spectrum, leveraging our global scale to deliver investment solutions that meet our clients' needs. Deep and experienced teams deploy capital in direct lending, opportunistic and event-driven strategies, providing solutions across U.S., European and Asian private markets. As of September 30, 2023, BlackRock manages US$84 billion on behalf of Private Credit clients globally.
About The Opportunistic Credit Team
The Opportunistic Credit Team at BlackRock manages ~$5 billion of capital within the Private Credit division at BlackRock, with the team split between the New York and London offices. With funds dedicated toward both public (hedge fund / secondary) and private (illiquid / private) opportunities, we seek to achieve attractive risk-adjusted returns in the mid- to high-teens range, via a flexible mandate to deploy capital into investments spanning a wide range of industries, geographies, and stages of company life. Transactions can include special situations investments, senior secured loans, subordinated debt, mezzanine loans, asset / project financing, convertible debt, preferred equity, equity warrants, public equity, or any combination of the above. The team leverages its industry expertise, proprietary networks of the investment professionals, and the larger BlackRock platform to source unique and differentiated investment opportunities.
About The Role
The Opportunistic Credit team is hiring an Associate to join the team in New York. The candidate will be responsible for assisting in the underwriting of credit investments in both the primary and secondary markets, primarily in a private context, but with some time allocated towards working with members of our public credit team (Special Situations Credit Hedge Fund). This individual will be an integral part of a small team of highly qualified investment professionals and involved in all aspects of the investment process.
Responsibilities
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.
For additional information on BlackRock, please visit @blackrock | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock
BlackRock is proud to be an equal opportunity workplace. We are committed to equal employment opportunity to all applicants and existing employees, and we evaluate qualified applicants without regard to race, creed, color, national origin, sex (including pregnancy and gender identity/expression), sexual orientation, age, ancestry, physical or mental disability, marital status, political affiliation, religion, citizenship status, genetic information, veteran status, or any other basis protected under applicable federal, state, or local law. View the EEOC’s Know Your Rights poster and its supplement and the pay transparency statement.
BlackRock is committed to full inclusion of all qualified individuals and to providing reasonable accommodations or job modifications for individuals with disabilities. If reasonable accommodation/adjustments are needed throughout the employment process, please email Disability.Assistance@blackrock.com. All requests are treated in line with our privacy policy.
BlackRock will consider for employment qualified applicants with arrest or conviction records in a manner consistent with the requirements of the law, including any applicable fair chance law.
About BlackRock Private Credit
BlackRock has built industry-leading private credit capabilities over the past 20 years, seeking to deliver attractive results throughout market cycles. Our platform provides a whole portfolio approach to investing across the risk/return spectrum, leveraging our global scale to deliver investment solutions that meet our clients' needs. Deep and experienced teams deploy capital in direct lending, opportunistic and event-driven strategies, providing solutions across U.S., European and Asian private markets. As of September 30, 2023, BlackRock manages US$84 billion on behalf of Private Credit clients globally.
About The Opportunistic Credit Team
The Opportunistic Credit Team at BlackRock manages ~$5 billion of capital within the Private Credit division at BlackRock, with the team split between the New York and London offices. With funds dedicated toward both public (hedge fund / secondary) and private (illiquid / private) opportunities, we seek to achieve attractive risk-adjusted returns in the mid- to high-teens range, via a flexible mandate to deploy capital into investments spanning a wide range of industries, geographies, and stages of company life. Transactions can include special situations investments, senior secured loans, subordinated debt, mezzanine loans, asset / project financing, convertible debt, preferred equity, equity warrants, public equity, or any combination of the above. The team leverages its industry expertise, proprietary networks of the investment professionals, and the larger BlackRock platform to source unique and differentiated investment opportunities.
About The Role
The Opportunistic Credit team is hiring an Associate to join the team in New York. The candidate will be responsible for assisting in the underwriting of credit investments in both the primary and secondary markets, primarily in a private context, but with some time allocated towards working with members of our public credit team (Special Situations Credit Hedge Fund). This individual will be an integral part of a small team of highly qualified investment professionals and involved in all aspects of the investment process.
Responsibilities
- Create and maintain detailed financial models
- Collaborate on due diligence, development of investment theses, and creation of investment memoranda to present to portfolio managers and the Investment Committee
- Assist in the review and coordination of drafting of credit and other investment documents
- Actively monitor portfolio investments and industry dynamics
- Flexibility to look at proprietary (private) origination as well as secondary trading (public market) opportunities
- Development of long-term, well researched theses on credits or sectors through stand-alone independent research regardless of market consensus
- Strong academic background and ideally 2 to 3 years of corporate finance experience in principal investing, investment banking, or restructuring advisory
- Self-motivated with ability to operate with modest oversight on small deal teams (2-3 professionals)
- Strong analytical ability & intellectual curiosity around the investment process, spanning a wide range of industries
- Candidate must be comfortable participating and presenting in internal discussions, Investment Committee meetings, diligence meetings with senior management teams, and discussions with industry sources, sell-side analysts, and other professionals
- Candidate must be able to work in collegial, team-oriented environment
- Experience with leveraged finance, credit underwriting, distressed investing or bankruptcy will be viewed positively
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.
For additional information on BlackRock, please visit @blackrock | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock
BlackRock is proud to be an equal opportunity workplace. We are committed to equal employment opportunity to all applicants and existing employees, and we evaluate qualified applicants without regard to race, creed, color, national origin, sex (including pregnancy and gender identity/expression), sexual orientation, age, ancestry, physical or mental disability, marital status, political affiliation, religion, citizenship status, genetic information, veteran status, or any other basis protected under applicable federal, state, or local law. View the EEOC’s Know Your Rights poster and its supplement and the pay transparency statement.
BlackRock is committed to full inclusion of all qualified individuals and to providing reasonable accommodations or job modifications for individuals with disabilities. If reasonable accommodation/adjustments are needed throughout the employment process, please email Disability.Assistance@blackrock.com. All requests are treated in line with our privacy policy.
BlackRock will consider for employment qualified applicants with arrest or conviction records in a manner consistent with the requirements of the law, including any applicable fair chance law.
Salary : $135,000 - $180,000
