Middle Office Operations, Private Financing Solutions, AnalystAssociate

About this role

Company Description

HPS Investment Partners a part of BlackRock is a leading global credit-focused alternative investment manager that seeks to provide creative capital solutions and generate attractive risk-adjusted returns for our clients. We manage various strategies across the capital structure including privately negotiated senior debt; privately negotiated junior capital solutions in debt preferred and equity formats; liquid credit including syndicated leveraged loans collateralized loan obligations and high yield bonds; asset-based finance and real estate. The scale and breadth of our platform offers the flexibility to invest in companies large and small through standard or customized solutions. At our core we share a common thread of intellectual rigor and discipline that enables us to create value for our clients.

HPS was established in 2007 as a unit of Highbridge Capital Management LLC (HCM) a subsidiary of JPMorgan Asset Management (JPMAM). On March 31 2016 the senior executives of HPS acquired HPS and its subsidiaries from JPMAM and HCM (the Transaction).Following the Transaction JPMAM retained a passive minority investment in HPS which was subsequently redeemed in April 2022. In June 2018 affiliates of Dyal Capital Partners made a passive minority investment in February 2022 an affiliate of The Guardian Life Insurance Company of America made a passive minority investment in HPS which was subsequently increased in August 2024. On July 1 2025 BlackRock acquired the business and assets of HPS with 100% of consideration paid in BlackRock equity (the HPS/BlackRock Transaction).

The HPS/BlackRock Transaction brings together BlackRocks corporate and asset owner relationships with HPSs diversified origination and capital flexibility. BlackRock and HPS have formed a new private financing solutions business unit (PFS) led by Scott Kapnick Scot French and Michael Patterson creating an integrated franchise with approximately $370 billion in client assets including $205 billion of private credit combined platform which has more than 590 investment professionals and approximately 1300 employees globally offers broad capabilities across senior and junior credit solutions asset-based finance real estate CLOs and GP-LP solutions. As part of the HPS/BlackRock Transaction Scott Kapnick Scot French and Michael Patterson have joined BlackRocks Global Executive Committee and Scott Kapnick has been appointed as an observer to the BlackRock Board.

Department Description

The Middle Office team (MO) within Private Financing Solutions (PFS) Blackrocks private credit platform is responsible for ensuring the Funds positions and cash balances are accurate. They manage the lifecycle of all trades/investments. They are responsible for trade capture trade settlement loan administration daily cash and position reconciliations corporate action elections/recordings audit requests new mandate onboarding and PnL break analysis and resolution with fund administrators. MO handles ad-hoc requests that come from the deal team and/or separately managed account clients. The team interacts closely with the Deal Execution Treasury Fund Accounting Fund Finance Cash Management Portfolio Analytics Data Analytics Valuations and the Deal Teams daily.

Position Description

HPS is seeking an Analyst/Associate to join the High Grade Middle Office (HGMO) team. HGMO is a sub-group within Middle Office that focuses on the High Grade (private investment grade) platform.

The individual should be highly organized with strong attention to detail. They should have the ability to meet strict deadlines work independently and as part of a team as well as possess excellent critical thinking/problem-solving skills. The platform is scaling very rapidly so the desire for a fast-paced environment is crucial.

This individual will be the PFS Middle Office teams first hire in Mumbai and will have an opportunity to play a key role in building out the PFS Middle Office presence there.

Specific responsibilities will include but not be limited to the following:

• Researching and resolving cash breaks vs. custodians

• Researching and resolving position breaks vs. custodians/clients/administrators/other systems

• Play a key role in the daily reconciliation between HPS & BlackRocks accounting systems

• Daily oversight of loan and security administration in the firms accounting system to support internal post close loan administration: tracking delayed fundings contracts coupon payments factor payments and maturities

• Investigate any transactional or accrual discrepancies that may arise

• Provide full trade life cycle operational support for products including but not limited to Bonds (Fixed & Floating Rate) Private Placements ABS Cross-Currency Swaps Term Loans Delayed Draw Term Loans and Revolvers

• Work closely with custodians daily fielding questions on how to apply cash and building/providing amortization schedules for factored securities

• Assemble purchaser schedules with the information needed to close/fund new private placements

• Assist with confirming positions and providing support where needed for both internal and SMA auditors

• Daily interaction with internal and external groups to troubleshoot any booking and/or position discrepancies (Front Office/Fund Accounting/Fund Administrators/SMA Clients/Auditors)

• Assist with monthly tie outs of all positions & cash with SMA Client for AUM Dry Powder and Management Fee purposes

• Perform daily transaction reconciliation with Stat Accounting administrator and monthly position/cost/market value reconciliation during the monthly lockdown process

• Ensure proper recording/accounting and cashflow reconciliation of cross-currency swaps

• Perform Detailed Investment Return reconciliation versus full fund administrator

• Collaborate with technology teams on automation and workflow enhancements; Execute User Acceptance Testing (UAT) including scenario testing and error resolution before production release

• Liaise with multiple internal groups such as accounting product control valuations investment data etc. to resolve open queries and perform additional responsibilities as required to support team objectives

Candidate Profile

• Graduate with a Bachelors degree in Finance Accounting or business related field

• 1-6 years of experience in middle office/operations; accounting experience is a plus

• Strong understanding of fixed income securities (private & public) cross-currency and/or interest rate swaps

• Trading and settlement

• Creation of securities/swaps in security master

• Life-cycle events: coupons factors amendments tenders maturity

• Cash and position reconciliation

• Strong Excel and Outlook Management Skills

• Use of lookups pivot tables and extensive formulas with the ability to build from scratch at any time

• Ability to sort through high number of emails per day without missing anything important responding in a timely manner and escalating when necessary

• Enjoys problem solving and critical thinking

• Ability to resolve complex issues efficiently and independently by leveraging knowledge obtained via training as well as past experiences

• Curiosity; need to not just be willing but wanting to learn and build upon existing knowledge every single day

• Experience using trade/accounting/security master systems; FIS VPM Aladdin IVP Products and/or Clearwater preferred

• Experience with Statutory Accounting is a plus

Hybrid Work Schedule and Shift Timings

• 4/1 split

• This role requires working a late shift to support stakeholders across EMEA and US time zones (e.g. 2 PM to 11 PM or 3 PM to 12 AM)

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

BlackRocks 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 childrens 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. Its why were 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: is proud to be an Equal Opportunity Employer. We evaluate qualified applicants without regard to age disability family status gender identity race religion sex sexual orientation and other protected attributes at law.