Intern (Fund Accounting)
HPS Investment Partners
HPS Investment Partners is a leading global investment firm that seeks to provide creative capital solutions and generate attractive risk-adjusted returns for our clients. We manage various strategies across the capital structure, including privately negotiated senior debt; privately negotiated junior capital solutions in debt, preferred and equity formats; liquid credit including syndicated leveraged loans, collateralized loan obligations and high yield bonds; asset-based finance and real estate. The scale and breadth of our platform offers the flexibility to invest in companies large and small, through standard or customized solutions. At our core, we share a common thread of intellectual rigor and discipline that enables us to create value for our clients, who have entrusted us with approximately $145 billion of assets under management as of August 2024. HPS has approximately 200 investment professionals and over 700 total employees, and has fourteen offices globally.
HPS believes in the importance of giving back to its communities, and in promoting diversity and inclusivity at the firm. We are dedicated to fostering enduring community relationships, and we support our team’s community involvement through volunteer work, board service, and other contributions. In addition, environmental, social, and governance (ESG) considerations are central to HPS’s culture and investment processes.
Position Description
As a Fund Accounting Intern focusing on expenses, you will gain hands-on experience in the financial services industry, specifically in fund accounting. This internship will provide you with the opportunity to learn about expense analysis and the overall management of investment funds. You will assist the fund accounting team in ensuring accurate tracking and reporting of expenses related to various investment funds.
Responsibilities
Specific responsibilities will include but not be limited to the following:
- Assist in monthly/quarterly accrual process, including
- Assisting with compiling quarter-over-quarter change report
- Reviewing expenses
- Booking accruals into VPM
- Submitting and reviewing wires
- VPM general ledger booking
- Quarterly/monthly admin fee review and reconciliation
- Interacting with fund accountants to learn fund nuances
- Quarterly reimbursements
- Write-off analysis
Candidate Profile
- Strong organizational skills and a proven ability to multi-task in a fast-paced, dynamic environment
- Professional demeanor: ability to maintain composure at all times
- Self-starter with a track record of driving results
- Willingness to aid in ad-hoc projects as they arise
- Pursuing a bachelor’s degree in accounting/finance or pursuing a master’s degree in accounting
- Strong analytical and problem-solving skills
- Proficiency in Microsoft Excel
- Excellent attention to detail and organizational skills
- Team Player: ability to work collaboratively in a team-oriented environment.
Location New York, NY
Dates: November 2024 – April 2025
Employment Type Full time (40 hours/week) but open to flexibility if needed, Non-Exempt
Work Schedule M-Th in NY office, Friday work from home; 9am-6pm or flexibility as needed