Vice President - Private Credit Fund Accounting, PFS

About this role

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.

Department Description

The Fund Accounting team's primary responsibility is the books and records of the HPS funds. This responsibility includes oversight, review and reconciliation of the books and records with internal teams including Middle Office, Cash Management, and Asset Management / Valuation as well as with external, third-party fund administrators. This responsibility includes NAV calculation and review, management and performance fees, expense review and management and capital calls and distributions. In addition to the core books and records, Fund Accounting works closely with Legal on fund setup and operation, with Product Specialist and Investor Relations on ongoing and ad hoc analysis and with Management Company Accounting on AUM, performance and fee reporting and revenue recognition.

Position Description

PFS is currently hiring for a Vice President level candidate to join the BlackRock Fund Accounting team based in Mumbai, India. The Fund Accounting Vice President performs an integral role within the Fund Accounting team, managing a group of Fund Accounting Analysts and Associates with collective responsibility for review and reconciliation of the funds' books and records. The Fund Accounting Vice President reports to an Executive Director. The Fund Accounting Vice President 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 Vice President will be involved in fund setup and operation and ad hoc internal and investor requests.

Responsibilities

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

• Lead a team and be responsible for the deliverables in line with SLAs, with a critical focus on quality
• Partner closely with other teams and across the business to support and drive our operational efficiency and technology-driven automation agenda.
• Build strong relationships with key contacts across their investment management deals
• Manage effective and appropriate communication and escalation of issues internally. Act as a point of escalation for senior members
• Provide senior-level review support for quarterly and annual financial statements in accordance with relevant accounting standards (US GAAP, FRS 102, IFRS, and Lux GAAP), investment performance reporting, and other investor deliverables.
• Prior buy-side fund accounting experience, ideally supporting closed-end funds, private credit, private equity, or alternative investment structures, is strongly preferred
• Monthly and quarterly closing of the funds' books with fund administrators
• Management fee and incentive fee waterfall calculation and review
• Review of partners' capital statements
• Review of capital call and distribution calculations and notices
• Review of fund expenses for accuracy and review of accruals and payments
• Review of monthly investor return and NAV estimates
• Preparation and review of quarterly and annual GAAP financial statements
• Review and support monthly and quarterly corporate reporting requirements
• Oversee and review quarterly and annual compliance-related requests, eg, Form ADV, Form PF requests, etc.
• Ad hoc reporting and projects
• Interact regularly with internal clients, stakeholders, external administrators and auditors.
• Management and oversight of day to day Fund Accounting function and Analyst and Associate team members.

• 8-15 years of relevant experience in an Accounting role
• Financial Services experience required, Asset Management or Alternative Investment industry preferred, Private Credit experience highly preferred
• Accounting degree preferred
• CPA preferred

• Mumbai, India

• Full-time, Exempt

• 4/1 split (M-Th from office, F work from home)

BlackRock is a global investment firm, trusted to manage more assets than any other.