Associate, Credit Facility Management, PFS - New York

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”).[i] 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 HPS. 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 BlackRock’s corporate and asset owner relationships with HPS’s 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 assets.[ii] This combined platform, which has more than 590 investment professionals and approximately 1,300 employees globally,[iii] 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 BlackRock’s Global Executive Committee, and Scott Kapnick has been appointed as an observer to the BlackRock Board.

Department Description

The Middle Office team is responsible for ensuring the funds positions and cash balances are as accurate as possible. They manage the life cycle of a trade/investment. They are responsible for trade capture, trade settlement, loan administration, daily cash and position reconciliations, corporate action elections/recordings and PnL break analysis and resolution with fund administrators. In addition, they provide oversight of the managed service/outsourced providers they use. The Middle Office team handles ad-hoc request that come from the deal team and/or separately managed account clients. The Middle Office team will provide the deal team with performance metrics (IRR/MOIC) upon deal realizations. The Middle Office team is also responsible to ensure all of the funds leverage providers are paid their interest and principal accurately and in a timely manner. The Middle Office team interacts closely with the Deal Execution, Treasury, Fund Accounting, Fund Finance, Cash Management, Valuations and the Deal teams daily.

Position Description

HPS is seeking to recruit an Associate to join the Credit Facility Management team in New York.

The recruit will focus on the operational components of managing credit facilities across the HPS platform and the end-to-end lifecycle of trade execution and settlements. Responsibilities include, but are not limited to, borrowing base maintenance, borrow and paydown facilitation, reporting requirements, maintaining covenant compliance, and managing the end-to-end lifecycle of trade execution and settlement.

The individual should have exceptional organizational skills with strong attention to detail. The individual should have the ability to meet strict deadlines, as well as work independently and as part of a team. A desire for a fast-paced environment is crucial.

Responsibilities                                                                                                                                                                                 

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

• Facilitate monthly, quarterly and annual reporting requirements for financing across the HPS platform
• Facilitate borrow and paydown requests to lenders
• Maintain relationship with custodian for asset facilities and facilitate bank account opening where required
• Review monthly or quarterly waterfalls and custodial reports in connection with financing
• Maintain compliance with underlying credit facility covenants
• Manage the closing process and ensure all transfer documents (i.e. Assignment and Assumptions) are executed timely and book into internal systems in accordance with legal documents
• Communicate with deal team, legal team, tax team, and agent banks to resolve settlement bottlenecks and KYC requirements
• Manage inbox and follow up on flagged issues to ensure timely resolution
• Proactively identify and implement opportunities to optimize workflows and enhance operational efficiency
• Lead trade booking and wire processing activities in Aladdin, ensuring accuracy and timely execution
• Review and validate lender-provided interest and fee invoices by independently recalculating amounts to ensure accuracy prior to booking

Candidate Profile

• Graduate with a bachelor’s degree
• 1-3 years of experience in financial services industry (preferably with experience in credit fund middle office operations)
• Understanding of credit facilities and private credit fund structures is a plus
• Understanding of bank loans
• Experience with S&P Markit, Clearpar, Aladdin, or VPM is a plus
• Strong excel skills (Vlookups, Sumifs)