Analyst/Associate – Middle Office Operations (Public Credit)

Location

Mumbai, Maharashtra Team: PFS Job Requisition #: R266881 Date posted: Oct. 26, 2026

Job description

• ------------------

About this role

Job Description

Company Description

• ----------------------

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 clients. The firm manages 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 the platform provide flexibility to invest in companies large and small through standard or customized solutions. Intellectual rigor and discipline are central to creating value for 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. 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 brings together BlackRock’s corporate and asset-owner relationships with HPS’s diversified origination and capital flexibility. BlackRock and HPS 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. The combined platform includes more than 590 investment professionals and approximately 1,300 employees globally and offers capabilities across senior and junior credit solutions, asset-based finance, real estate, CLOs and GP-LP solutions. Scott Kapnick, Scot French and Michael Patterson joined BlackRock’s Global Executive Committee, and Scott Kapnick was appointed as an observer to the BlackRock Board.

Team Description

• -------------------

The Middle Office team (MO) within Private Financing Solutions (PFS), BlackRock’s private credit platform, is responsible for ensuring that fund positions and cash balances are accurate and for managing the lifecycle of all trades and investments. Responsibilities include trade capture, trade settlement, loan administration, daily cash and position reconciliations, corporate-action elections and recordings, audit requests, new-mandate onboarding, and PnL break analysis and resolution with fund administrators. The team also handles ad hoc requests from deal teams and separately managed account clients and works closely with Deal Execution, Treasury, Fund Accounting, Fund Finance, Cash Management, Portfolio Analytics, Data Analytics, Valuations and Deal Teams.

Position Description

• -----------------------

HPS is seeking an Analyst to join the Public Credit Middle Office, a subgroup within the broader Middle Office team that focuses on the liquid credit business within PFS.

The individual should be highly organized, with strong attention to detail and effective written and verbal communication skills. The role requires the ability to meet strict deadlines, work independently and collaboratively, and demonstrate excellent critical-thinking and problem-solving skills. The platform is scaling rapidly, making comfort in a fast-paced environment essential.

Responsibilities

• -------------------
• Research and resolve cash breaks versus custodians.
• Research and resolve position breaks versus custodians, clients, administrators and other systems.
• Perform cash and asset reconciliations between internal systems, including Aladdin, and custodians.
• Play a key role in the daily reconciliation between HPS and BlackRock accounting systems.
• Provide daily oversight of loan and security administration in the firm’s accounting system, including delayed fundings, contracts, coupon payments, factor payments and maturities.
• Investigate transactional or accrual discrepancies.
• Provide full trade-lifecycle operational support for products including fixed- and floating-rate bonds, private placements, ABS, cross-currency swaps, term loans, delayed-draw term loans and revolvers.
• Contribute to the design and implementation of onboarding processes for new investments, including trade lifecycle, cash management, valuation, PnL recognition and reconciliation.
• Work closely with custodians, including responding to questions on how to apply cash.
• Assist with position confirmation and provide support to internal and SMA auditors.
• Interac