Associate, REIT Fund Accounting, PFS - Princeton, NJ

Associate Level Fund Accounting Candidate

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 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. This combined platform, which has more than 590 investment professionals and approximately 1,300 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 BlackRock's Global Executive Committee, and Scott Kapnick has been appointed as an observer to the BlackRock Board.

HPS is seeking to recruit an Associate level fund accounting candidate to join the real estate private credit evergreen team in Princeton, NJ. The candidate will be an integral member of the team responsible for review and reconciliation of the trusts' books and records, liaising with both internal HPS departments and external third-party fund administrators. The BDC team associate will be involved in the closing of the books including NAV review and reconciliation, fee calculations and partners' capital statement review among other responsibilities. Additionally, the Fund Accounting Associate will be involved in fund setup and operation and supporting various ad hoc internal and investor requests.

Responsibilities

• Working directly with the third-party sub-administrator to coordinate work and review all accounting deliverables to ensure accuracy and conformity with applicable accounting standards
• Liaise with administrator, custodian, transfer agent, and other outside vendors
• Maintaining shadow books and records and perform reconciliations to sub-administrator's reporting package
• Management fee and incentive fee calculation and review
• Review of expenses for accuracy and coordination of accruals and payments
• Assisting with preparation of monthly and quarterly reporting deliverables to HPS
• Preparation of 10-Q and 10-K SEC filings, as well as management reporting
• Analyze complex accounting matters, including revenue recognition, valuation, credit facility accounting, and incentive fee arrangements.
• Assisting in preparing reports for the Board of Directors
• Be actively involved in Accounting Policy related discussions, understand and communicate the impact to the business, financial results and reporting/disclosure requirements if applicable
• Assisting with technology initiatives; lead process improvement initiatives
• Providing support and assistance to external auditors in their quarterly review and annual audit procedures
• Monitor compliance with regulatory and fund-specific requirements, including leverage, liquidity, and asset coverage tests.
• Ad hoc reporting and projects

Candidate Profile

• Bachelor's degree in Accounting, Finance, or Economics preferred
• 3-5 years of combined work experience in a Fund Accounting, and/or public accounting role supporting clients within the financial services industry (preferably within Credit or Asset Management with exposure to Real Estate Credit)
• "Big Four" public accounting experience preferred
• CPA preferred
• Excellent communication skills, both written and verbal
• Ability to work independently with the willingness to constantly think outside of the box
• Highly organized and proven ability to execute and manage complex logistics, projects, and tasks under tight time constraints
• Strong analytical/logical mindset and attention to detail; extensive experience working with large sets of data is preferred
• Fluency required in Excel (VBA knowledge a plus), PowerPoint and Word

For Princeton, NJ only, the salary range for this position is USD$95,000.00 - USD$127,500.00. Additionally, employees are eligible for an annual discretionary bonus, and benefits including healthcare, 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 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.

Guidance on AI use for candidates

At BlackRock, AI has long been part of how we work enhancing decision-making, improving operations, and helping us deliver better outcomes for clients. We encourage candidates to use AI thoughtfully to learn, prepare, and work more effectively; but during our interview process, we want to focus on getting to know you through your own experiences, thinking, and judgment. To support you, we've provided guidance on when and how to use AI during our hiring process so you can approach each step with confidence and showcase your best self.

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.

To learn more about BlackRock, please visit Careers.BlackRock.com. We also encourage you to get to know us on LinkedIn, Instagram, YouTube, X, and TikTok.

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.

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