Director, Product Tax

About this role

Introduction

To replace a departing Director, a hire is required in London to join the global Black Rock Private Markets Tax Team. This team currently comprises 30+ staff in total (who are located in the US, UK and Hong Kong) and is co-headed by two Managing Directors based in New York.

Black Rock is the world’s largest asset management company, and is independently listed (ticker: BLK) and headquartered in New York. The Private Markets team is responsible for investment management, strategic planning and oversight across Black Rock’s $450+ billion alternatives investment platform.

Black Rock is currently active in the following areas:

• Private equity solutions
• Infrastructure solutions
• Secondaries solutions
• Direct private equity and venture capital
• Private credit (Mortgage securitization / CLOs / direct lending)
• Private infrastructure (equity and debt)
• Real estate (equity and debt)
• Hedge fund solutions
• Alternative solutions
• Direct hedge funds

This is an in-house role focusing on tax advising and structuring of Black Rock’s private markets investment platform supporting the private credit, private equity, multi alternatives and hedge funds business lines, including:

• Providing hands‑on tax support to the Black Rock private markets business areas
• Providing oversight and input on documentation and tax due diligence on selected investments to be held by the funds, and working with the business team and external advisors to mitigate any identified tax risks
• Structuring investments and investment holding structures, and understanding the overall impact of fund structures
• Reviewing and negotiating legal documentation for such transactions with legal and tax advisors
• Providing oversight of Big 4 and law firm deal teams advising on such transactions
• Monitoring domestic and international tax laws and advising on the impact on investment structures
• Assisting in development of robust tax‑related processes and procedures as the platform expands
• Working with the wider Product Tax team on matters arising which impact Black Rock’s broader product offering

The role holder will report to a Managing Director and co‑head of the Private Markets Tax team in New York. That Managing Director reports to the Global Head of Tax (based in New York). The role involves working both with members of the global Private Markets Tax Team (based in the US, EMEA, and Asia Pac) as well as the broader Product Tax Team.

• Advise on new product tax work, including fund structuring, development of product strategies, tax structuring and review of documentation, as well as ongoing tax oversight for the fund complexes and vehicles associated with those businesses
• Advise on tax matters concerning investment acquisitions, underlying investment structures and strategies, and related transactional documents
• Communicate with investors and underlying investment sponsors regarding tax requests and queries, as well as engaging on tax provisions in legal documents
• Assist Black Rock’s client relations and sales and marketing teams with client communications (including potential investors)
• Liaise and collaborate closely with members of the global Private Markets Tax Team responsible for covering the business lines above in their respective region
• Assist with oversight of EMEA tax reporting compliance work outsourced to external advisors
• Support product development teams in evaluating and developing new products with insightful and practical tax input
• Undertake necessary tax due diligence and setup needed for new fund launches and investments, with support from team colleagues as required
• Monitor tax technical developments affecting these funds, and respond as necessary
• Build robust practices and efficiencies with respect to tax policies and operational processes.

The following are required from all candidates:

• Experience working in practice, either at a law firm, a Big 4 accountancy firm or in‑house at a private markets asset manager
• Knowledge of tax aspects of private funds and private credit funds in particular
• Understanding of fund and SPV structures for alternative…