About this role
Introduction
To replace a departing Director, a hire is required in London to join the global BlackRock 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.
About BlackRock
BlackRock 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 BlackRock’s $450+ billion alternatives investment platform.
BlackRock 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
Role Description
This is an in-house role focusing on tax advising and structuring of BlackRock’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 BlackRock 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 BlackRock’s broader product offering
Reporting Line
The roleholder 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.
Key Responsibilities
- 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 BlackRock’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.
Skills and Experience – Required
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 investments
- Experience reviewing tax provisions of LPAs, PPMs, side letters and transactional documents such as purchase agreements and credit agreements
- At least 7+ years’ experience
Aptitudes
This is a high exposure role, involving much direct contact with the BlackRock private markets business lines and some with end clients. The product range is often highly challenging in tax technical terms. Accordingly, it is important that the roleholder:
- is able to communicate complex tax issues clearly and concisely, in a manner targeted at a wide range of different audiences
- has the interpersonal skills to work effectively within a large in-house tax team and with cross-border teams and multidisciplinary business and project teams
- is able to perform effectively in a fast-paced environment
Our benefits
To help you stay energized, engaged and inspired, we offer a wide range of employee benefits including: retirement investment and tools designed to help you in building a sound financial future; access to education reimbursement; comprehensive resources to support your physical health and emotional well-being; family support programs; 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 Employer. We evaluate qualified applicants without regard to age, disability, race, religion, sex, sexual orientation and other protected characteristics at law.
