Real Estate Debt Core Portfolio Management, Analyst

About this role

BlackRock's Global Private Debt business manages ~$65 billion in assets across US and European middle market private debt, opportunistic and distressed credit strategies, and Real Estate Debt platforms. BlackRock’s Real Estate Debt Group has invested in various debt structures, including whole loans, B notes, mezzanine loans, preferred equity, and CMBS B-pieces, throughout North America, and Europe. The platform manages diverse investment strategies through separate accounts and commingled funds. Our extensive experience encompasses all major property types, including office, industrial, retail, hotels, and residential.

Within this platform, the Core Portfolio Management (CorePM) Team is responsible for implementing investment decisions across products while ensuring governance oversight and adherence to investment best practices. CorePM partners closely with investment teams, product strategists, and operations to manage complex mandates and deliver differentiated outcomes for our clients.

We are seeking a dedicated and highly motivated professional to join our Real Estate Debt CorePM team. This role will encompass junior portfolio management activities, oversight of operational processes, and close collaboration with internal and external stakeholders across the platform. The role will report to the Head of Real Estate Debt CorePM and provide support for a newly launched REIT product as well as other products of the platform. Specific responsibilities include, but are not limited to:

Responsibilities

Portfolio & Liquidity Management:

• Maintain daily, monthly, and periodic reporting, including position-level details, capital availability, and cash flow forecasts.
• Monitor and manage fund liquidity across private funds, including cash forecasting, investment deployment, capital calls, finance drawdowns, leverage facilities, investor distributions, and interest and fee collections.
• Develop models to forecast cash flows based on upcoming subscriptions, redemptions, and investment activities.
• Coordinate closely with middle and back-office teams to optimize fund cash movements.
• Integrate newly acquired assets into internal systems and maintain portfolio allocation models.
• Manage and oversee investment level FX hedging programs, including monitoring exposure, coordinating hedge execution, and ensuring compliance with fund policies.

Compliance and Risk Oversight:

• Perform pre-trade compliance checks against side letters, investment management agreements, and fund guidelines.
• Monitor investment compliance, including Aladdin coding breaches and private loan compliance checklists.
• Ensure full regulatory reporting compliance and maintain operational best practices.
• Identify and implement enhancements to the investment or operational processes.

Operations Coordination:

• Liaise with third-party service providers (fund administrators, custodians, banks) and internal teams (legal, tax, trading, compliance).
• Coordinate deal closings, including trade booking, investment checklist sign-off,  document collection and KYC processes.
• Anticipate and resolve operational issues during investment lifecycle (trade execution, settlement, hedging).
• Work with portfolio management and operations to design and maintain the operating model to minimize operational risks and maximize efficiency.

Reporting & Analysis:

• Prepare and present periodic fund reporting, including IRR, MOIC, net investment income forecasts, and cash flow metrics.
• Deliver management information for board presentations and senior leadership reporting.
• Support valuation and rating processes for underlying assets based on audited and reported results.
• Coordinate with internal teams to fulfill ad-hoc investor queries and customized reporting needs, ensuring accurate and timely responses.

Skills and Qualifications:

• Ideally 2–3 years of experience in private markets, real estate debt, private debt, structured finance, or a related field; other relevant backgrounds will also be considered
• Strong academic foundation; a degree in finance, economics, real estate, or a related discipline is preferred but not required
• Proficient in financial modeling and Microsoft Excel; experience with PowerBi, Tableau, VBA, Python, SQL, or Aladdin is a plus.
• Tech-savvy mindset with the ability to help design, enhance, and optimize technology and operational platforms, including leading or contributing to system upgrade projects, process automation initiatives, and partnering with internal technology teams to drive innovation and operational efficiency.
• Understanding of middle office and back-office operations is a plus, particularly in areas related to trade settlement, cash management, and portfolio accounting.
• Exceptional organizational and project management skills, with the ability to manage multiple priorities.
• Strong analytical skills and attention to detail.
• Collaborative mindset with excellent verbal and written communication skills.
• Self-motivated with a strong sense of ownership and ability to work independently.

Development Opportunities:

• Significant exposure to real estate debt investments and private market strategies.
• Participation in the growth of a key strategic area within the firm.
• Broad and varied exposure to portfolio management, investment operations, and fund management activities.
• Opportunities for professional development and career progression in a dynamic, fast-growing environment.

#EarlyCareers For New York, NY Only the salary range for this position is USD$95,000.00 - USD$116,000.00 . Additionally, employees are eligible for an annual discretionary bonus, and benefits including heath care, 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.

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.

For additional information on BlackRock, please visit @blackrock | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock

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.

 

BlackRock is committed to full inclusion of all qualified individuals and to providing reasonable accommodations or job modifications for individuals with disabilities. If reasonable accommodation/adjustments are needed throughout the employment process, please email [email protected]. All requests are treated in line with our privacy policy.

BlackRock will consider for employment qualified applicants with arrest or conviction records in a manner consistent with the requirements of the law, including any applicable fair chance law.