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StepStone | Toronto, Canada
Review placement memoranda and partnership agreements for fund investments and prepare analysis regarding same for inclusion in investment memoranda or otherwise deliverable to clients. Law degree from a top-tier law school and membership in good standing with an applicable law society. 3+ years of private markets fund formation or LP advisory, and investment management legal experience.
The position will support StepStone Group Real Assets (“SIRA”), with client groups serviced from Australia, North America and the United Kingdom and investments located globally. The candidate will report into the Deputy General Counsel, Infrastructure & Real Assets and be an integral member of the SIRA team. The person filling this role will be responsible for supporting the drafting and negotiation of legal documentation with respect to the firm’s infrastructure-related (i) private markets fund investments, including primaries and separately managed accounts, (ii) transactions, including co-investments, secondary investments and minority direct investments, also known as investment partnering transactions, and (ii) investment advisory and management agreements, separately managed account documentation and offering documentation relating to the firm’s infrastructure clients and investment products. This is a hands-on role, with only certain aspects being outsourced to external counsel.
Essential Job Functions:
* Review placement memoranda and partnership agreements for fund investments and prepare analysis regarding same for inclusion in investment memoranda or otherwise deliverable to clients
* Manage input of fund terms into the firm’s proprietary database
* Negotiate and draft documentation to execute primary fund investments
* Review, negotiate and draft documentation to execute (i) secondary purchases and sales of fund interests, (ii) co-investments and (iii) minority direct infrastructure equity investments (investment partnering arrangements)
* Manage completion of subscription documentation for all investments
* Negotiate and draft documentation for infrastructure (i) investment advisory engagements, (ii) separately managed accounts and (iii) commingled funds and advise on structuring regarding same
* Manage outside counsel in connection with select investment activity, formation of new funds and managed accounts, and subscription lines
* Work with paralegals, including in the negotiation of confidentiality agreements, closing-related matters, and other matters, as needed
* Work on special projects from time to time as appropriate and subject to availability (e.g., strategic transactions, process efficiencies, fiduciary counseling and training, regulatory filings, etc.)
* Professionally communicate with all levels of staff and stakeholders, internal and external
* Utilize effective time management skills to maintain a commitment to quality and attention to detail; ensure that all work is completed accurately and on time
* Foster a sense of teamwork, assisting others when needed/required; work collaboratively with attorneys supporting other asset classes to share best practices, provide coverage, etc.
* Flourish in a challenging, fast-paced, and professional environment with frequent shifts in priorities as business needs dictate
* Have a strong sense of integrity, behaving consistently with expressed values and ethical principles of StepStone
* Focus on specific goals and demonstrate a sense of personal growth, accountability and urgency for achieving results
Education and/or Work Experience Requirements
* Must possess a law degree (LLB or JD) from a top-tier law school and membership in good standing with an applicable law society
* Approximately 3 to 7 years of private markets fund formation and/or LP advisory, and investment management legal experience (e.g. private equity, infrastructure, real assets and/or real estate)
* Transactional legal experience in secondary and/or direct investments would also be beneficial
* Experience with private markets investment management firms, whether in-house or at a top tier law firm
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