Associate, REIT Fund Accounting, PFS - Princeton, NJ

About this role

Company Description

HPS Investment Partners, a part of Black Rock, 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, Black Rock acquired the business and assets of HPS, with 100% of consideration paid in Black Rock equity (the "HPS/Black Rock Transaction").

The HPS/Black Rock Transaction brings together Black Rock's corporate and asset owner relationships with HPS's diversified origination and capital flexibility. Black Rock 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/Black Rock Transaction, Scott Kapnick, Scot French, and Michael Patterson have joined Black Rock's Global Executive Committee, and Scott Kapnick has been appointed as an observer to the Black Rock Board.

Department Description

For this particular role, the BDC Accounting team's primary responsibility is the books and records of a real estate private credit evergreen trust. 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 various reporting relating items (SEC filings including 10Q/10-K preparation, board reporting and other management reporting).

In addition to the core books and records, the BDC team 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

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…