Private Credit: By combining HPS with BlackRock’s private credit business, we’ve created a private credit platform designed to meet the needs of clients with long-dated investment capital through unmatched investment expertise, product depth, and global scale. This $370+ billion platform spans the full capital structure from senior to junior credit and includes a wide array of corporate-focused strategies, including direct lending, venture, growth, and distressed, as well as asset-based financing inclusive of real estate debt. PFS is positioned to deliver the risk/return profile, duration, yield, and flexibility our clients are looking for , and will operate alongside BlackRock’s $3 trillion public fixed income franchise that spans Fundamental Fixed income.

The European Middle Market Private Debt provides, on behalf of BlackRock’s clients and funds, mid-market companies with debt financing for acquisitions, capital growth, refinancings, LBO’s and liquidity situations

Position Overview

The European Private Credit team is seeking to hire an Associate to support the assessment, structuring and execution of private credit investments across the European market. The role will be London-based, with the potential for relocation to a regional office in the Netherlands or Stockholm over time, subject to business needs and individual development. The Associate will work closely with senior investment professionals throughout the full investment lifecycle, from initial screening and due diligence through execution, monitoring and portfolio management.

Key Responsibilities

Support the evaluation and underwriting of new private credit investment opportunities across Europe, with a primary focus on direct lending transactions Conduct fundamental credit analysis, including detailed review of business models, industry dynamics, competitive positioning and sponsor quality Build and review financial models, including operating cases, downside scenarios and return analysis Prepare and contribute to Investment Committee materials, including company overviews, transaction structures, investment theses, financial analysis, risk assessments and mitigants Participate in transaction execution, including coordination with internal stakeholders and external advisers (legal, financial, commercial and ESG) Assist senior investors with the review and negotiation of financing and legal documentation in collaboration with internal and external counsel Support ongoing portfolio management, including financial performance monitoring, covenant analysis and periodic reviews Participate in management meetings, sponsor discussions and due diligence sessions Develop a strong understanding of portfolio companies and build relationships with management teams, sponsors and advisers over time

Skills & Experience

3–6 years of relevant experience in private credit, direct lending, leveraged finance, investment banking or a related advisory role Strong analytical skills with the ability to assess credit risk and investment merits across a range of capital structures Solid financial modelling capability, including bottom-up KPI driven integrated three-statement models and scenario analysis Understanding of private credit documentation and transaction structures, with an interest in continuing to deepen technical legal and structuring knowledge Ability to manage multiple workstreams and prioritize effectively in a fast-paced transaction environment Strong written and verbal communication skills, with the ability to present analysis clearly and concisely A proactive, detail-oriented and collaborative approach, with the ability to work independently as required

Language & Location Requirements

Fluency in English is required Dutch, Swedish or Norwegian language skills are preferred Role is based in London, with potential future relocation to the Netherlands or Stockholm

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