Alternatives (Credit) Off-cycle Internship Germany 2023

As allocations grow, alternative investments play an increasingly critical role in portfolios. BlackRock offers access to a broad spectrum of alternative investments in alternative solutions, hedge funds, credit, private equity, real estate and infrastructure. Each business is responsible for strategic planning and oversight as well as investment management activities.

Our business contains several teams

Alternative Solutions Group

Develops and manages innovative private market strategies with the flexibility to invest across asset classes to achieve investment outcomes for clients of all types across regions. Positions available across our portfolio management, risk and portfolio construction and product strategy teams. Quantitative portfolio construction underpins our approach to building whole-of-alts portfolios, portfolios that pursue niche and emerging strategies, impact investments (including the firms’ largest social equity impact fund) and exploring new outcomes that combine the best of what the alternatives division has to offer across asset classes as we aim to service our institutional clients and reach new client segments, increasingly in evergreen and semiliquid portfolios.

BlackRock Alternative Advisors

Provides custom hedge fund solutions and manages hedge fund of funds portfolios. Our global team invests in external hedge funds and has deep experience in structuring and managing custom, co-investment and commingled hedge fund of funds portfolios.

Credit

Manages private and public credit investments across the full spectrum of risks, liquidity and geographies. BlackRock has expertise in opportunistic and distressed debt, specialty finance, middle market investing, high yield, leverage loans and CLOs. Our team is global with investment professionals in Americas, Europe, and Asia.

Private Equity

Delivers a broad array of private market solutions through customized and commingled private equity programs focused on investing in primary funds, direct co-investments and secondaries. We cover the spectrum of private equity, from venture capital to buyouts to distressed investments. We are dedicated to the sourcing, selection, management, structuring, monitoring and administration of private equity investments and partnerships.

Real Assets

Includes both Real Estate investments and Infrastructure investments. Real estate manages investments across the four quadrants of the real estate market including private equity, private debt, public equity (REITS) and public debt, across all major real estate markets globally. Infrastructure manages equity and debt infrastructure investments as well as fund of funds, providing investors with access to infrastructure assets with a fiduciary framework and tailored investment solutions.

BlackRock Private Capital Markets

A dedicated capital markets function for sourcing private and illiquid investment opportunities with a focus on alternatives sourcing and deployment. We help banks, sponsors and other intermediates best navigate the entire BlackRock platform by thoroughly understanding potential investment opportunities, working with investment teams to execute transactions, and managing relationships to build strong connectivity between counterparties and BlackRock.

Core PM

Within the front office in each investment strategy and across the broader platform, Core PM is designed to meet the needs and preferences of our clients through specific portfolio management functions including: portfolio construction, cash & credit facility management, FX hedging, info barrier governance, and the investment process as a whole.

Office of the CIO

The Office of the CIO within BAI was established in 2019 and provides overall investment leadership and accountability across all regions of the platform. Serving at the center of the platform’s investment activity, the team is led by the Chief Investment Officer and comprised of a seasoned team of investment/capital markets professionals, operators, technicians and strategists. As a high-impact Summer Analyst, you will have a front row seat to some of the World’s leading investors within Alternative asset classes and can expect access to a range of senior leaders and Portfolio Managers. As a member of the CIO team, you will learn the basics of the investment processes and performance and partner with leaders and members of the platform to develop a comprehensive understanding across all alternative asset classes, while acquiring a deeper understanding of client needs. In addition to serving as a generalist across the CIO team, you will have the opportunity to spend some of the internship focusing on a specific operating group or asset class of your choice.

Alternatives Client Platform

The Alternatives Client Platform team serves as the centralized hub to support investor relations activities across our rapidly growing Alternative Investments platform to provide an industryleading client experience. Our team is responsible for a wide range of client services activities, including production of client & fund reports, support with marketing collateral and presentations, and maintaining platform data and analytics.

BlackRock Alternative Specialists

A client-facing sales team that collaborates with investment groups across BlackRock Alternative Investors and the firm’s relationship managers to deliver the breadth and depth of the Alternatives platform to our clients. They are tasked with delivering Alternatives-focused solutions that help to solve for our client’s specific investment requirements.

Digital Strategy

Combines technical expertise and a deep knowledge of alternative asset classes to design and execute on a unified technology strategy for the BlackRock Alternatives platform. The team works in close partnership with investment and technology teams and to enhance, automate and scale business processes using new and emerging tech, as well as developing best-inclass solutions for some of the private markets' most pressing data and investment management challenges.

Our team is known for:

• Offering clients access to a variety of investment options not generally available through traditional fixed income and equity markets
• Highly regarded investment specialists armed with industry-leading information and insights, managing over +218 billion in client’s assets across 49 offices (as of March 2020)
• Bringing high-quality investments, no matter the market cycle
• Using the industry’s most sophisticated technology by combining the power of Aladdin’s risk analytics and eFront’s private markets data platform to help ensure that risks are deliberate, and investors know what they own
• Putting sustainability at the center of how we invest to provide better risk-adjusted returns to our investors

We partner with

• Internally: We work with Portfolio Managers, Institutional and Wealth Client Business, Operations & Technology, Portfolio Analytics Group (PAG), Legal & Compliance, Business Operations, Internal Audit, and Finance
• Externally: We engage with Institutional and Retail Clients, Stakeholders and Board Representatives

What will you do as an analyst?

• Learn the basics of the investment process within Alternative investments and become an active participant
• Conduct analysis of returns/financial modeling and learn to identify drivers of return
• Partner with team members to perform risk analysis and investment research
• Develop a comprehensive understanding across all alternative asset classes and learn how Alternatives impact the rest of a portfolio
• Acquire a deeper understanding of client needs to solve for clients ranging from large scale institutions to large private clients
• Benefit from the resources of a world-class technology firm
• Analytical and numerical skills
• Communication and presentation skills
• Strong problem-solving skills and critical thinking
• Basic or intermediate coding and programming skills
• Team leadership and teamwork skills
• Innovative skills

Eligibility and requirements

• Graduating in 2024 and being available to take up a 6-month internship in 2023
• Open to any degree disciplines
• German speaker – fluent / native