Associate, Opportunistic Credit - Investment Professional

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:

• 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

Qualifications:

• Strong academic background and ideally 1 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

 

For New York City only: The salary range for this position is $115,000 - $180,000. 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 fle