Real Estate Debt Core Portfolio Management, Analyst

About this role

BlackRock's Global Private Debt business manages ~$65 billion in assets across US and European middle market private debt, opportunistic and distressed credit strategies, and Real Estate Debt platforms. BlackRock’s Real Estate Debt Group has invested in various debt structures, including whole loans, B notes, mezzanine loans, preferred equity, and CMBS B-pieces, throughout North America, and Europe. The platform manages diverse investment strategies through separate accounts and commingled funds. Our extensive experience encompasses all major property types, including office, industrial, retail, hotels, and residential.

Within this platform, the Core Portfolio Management (CorePM) Team is responsible for implementing investment decisions across products while ensuring governance oversight and adherence to investment best practices. CorePM partners closely with investment teams, product strategists, and operations to manage complex mandates and deliver differentiated outcomes for our clients.

We are seeking a dedicated and highly motivated professional to join our Real Estate Debt CorePM team. This role will encompass junior portfolio management activities, oversight of operational processes, and close collaboration with internal and external stakeholders across the platform. The role will report to the Head of Real Estate Debt CorePM and provide support for a newly launched REIT product as well as other products of the platform. Specific responsibilities include, but are not limited to:

Responsibilities

Portfolio & Liquidity Management:

• Maintain daily, monthly, and periodic reporting, including position-level details, capital availability, and cash flow forecasts.
• Monitor and manage fund liquidity across private funds, including cash forecasting, investment deployment, capital calls, finance drawdowns, leverage facilities, investor distributions, and interest and fee collections.
• Develop models to forecast cash flows based on upcoming subscriptions, redemptions, and investment activities.
• Coordinate closely with middle and back-office teams to optimize fund cash movements.
• Integrate newly acquired assets into internal systems and maintain portfolio allocation models.
• Manage and oversee investment level FX hedging programs, including monitoring exposure, coordinating hedge execution, and ensuring compliance with fund policies.

Compliance and Risk Oversight:

• Perform pre-trade compliance checks against side letters, investment management agreements, and fund guidelines.
• Monitor investment compliance, including Aladdin coding breaches and private loan compliance checklists.
• Ensure full regulatory reporting compliance and maintain operational best practices.
• Identify and implement enhancements to the investment or operational processes.

Operations Coordination:

• Liaise with third-party service providers (fund administrators, custodians, banks) and internal teams (legal, tax, trading, compliance).
• Coordinate deal closings, including trade booking, investment checklist sign-off,  document collection and KYC processes.
• Anticipate and resolve operational issues during investment lifecycle (trade execution, settlement, hedging).
• Work with portfolio management and operations to design and maintain the operating model to minimize operational risks and maximize efficiency.

Reporting & Analysis:

• Prepare and present periodic fund reporting, including IRR, MOIC, net investment income forecasts, and cash flow metrics.
• Deliver management information for board presentations and senior leadership reporting.
• Support valuation and rating processes for underlying assets based on audited and reported results.
• Coordinate with internal teams to fulfill ad-hoc investor queries and customized reporting needs, ensuring accurate and timely responses.

Skills and Qualifications:

• Ideally 2–3 years of experience in private markets, real estate debt, private debt, structured finance, or a related field; other relevant backgrounds will also be considered
• Strong academic foundation; a degree in finance, economics, real estate, or a related discipline is preferred but not required
• Proficient in financial modeling and Microsoft Excel; experience with PowerBi, Tableau, VBA, Python