About this role
Introduction
Due to the significant expansion in the BlackRock Private Markets platform, a hire is required in London to join the global BlackRock Private Markets Tax Team. This team currently comprises 40+ staff in total (who are located in the US, UK and Hong Kong) and is 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 infrastructure (equity and debt)
- Infrastructure solutions
- Private equity solutions
- Secondaries
- Direct private equity and venture capital
- Private credit (Mortgage securitization / CLOs / direct lending)
- Real estate (equity and debt)
- Hedge fund solutions
- Direct hedge funds
Role Description
This is an in-house role focusing on tax advisory for BlackRock’s private markets investment platform supporting the Global Infrastructure Partners (“GIP”) business, including:
- Providing hands-on tax support to the GIP private infrastructure equity and debt business areas within EMEA
- Providing oversight and input on the tax due diligence on selected investments, and tax inputs for related financial modelling
- Structuring of investments and investment holding structures, and review and negotiation of legal documentation for such transactions
- Providing oversight of Big 4 and external tax counsel advising on such transactions
- Monitoring domestic and international tax laws and advising of the impact on investment structures
- Assistance 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 role will report to a Director in the Private Markets Tax team in London. That Director reports to the Global Co-Heads of Private Markets Tax (based in New York), who 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 tax advisory work, including:
- tax due diligence on prospective targets,
- tax input of financial models,
- tax structuring of investments and investment holding structures,
- review and negotiation of legal documentation, and
- ongoing tax oversight for the fund complexes and vehicles associated with those businesses
- Serve as primary point of contact for GIP deal teams, and advise them on tax matters concerning investment acquisitions, underlying investment structures and strategies, and related transactions
- Communicate with investors and underlying investment sponsors regarding tax requests and queries, as well as engaging on tax provisions in legal documents
- Liaise and collaborate closely with members of the global Private Markets Tax Team
- Assist with oversight of EMEA tax reporting compliance work outsourced to external advisors
- Work closely with members of the wider GIP platform e.g. finance,legal, and operations in relation to the implementation of investment structures and funds flows
- Monitor tax technical developments affecting these funds and investments, 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:
- A law degree / accountancy qualification e.g. ACA or similar
- Knowledge of infrastructure or private equity funds and investment taxation in EMEA
- Understanding of fund entities and holding structures used in infrastructure and/or private equity funds and their investments
- Experience working in practice, either at a law firm, a Big 4 accountancy firm or in-house at an infrastructure, private equity or an asset management company
- At least 5+ years experience with tax issues in M&A and private credit in the asset management space
Aptitudes
This is a high exposure role, involving significant direct contact with senior members of the GIP business teams 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.
