Legal Counsel

Firm Overview:

Cambridge Associates (“CA”) is a leading global investment firm. CA’s goal is to help endowments & foundations, pension plans, and ultra-high net worth private clients implement and manage custom investment portfolios that generate outperformance so that they can maximize their impact on the world. Cambridge Associates delivers a range of services, including outsourced CIO, non-discretionary portfolio management, and investment consulting.

Headquartered in Boston, Massachusetts, CA has offices in key markets in North America, the United Kingdom, Europe, Asia, and Oceania.  Our worldwide teams ensure our clients benefit from decades of global presence, local expertise, and relationships with the top global investment managers across the world.  For more information, please visit www.cambridgeassociates.com.

Job Description Summary:

The Legal Counsel – Investments will be responsible for delivering legal support for the client investment process. This work will include reviewing and negotiating a broad range of investments, with a focus on private funds, such as hedge funds, private equity funds and venture capital funds, as well as separately managed accounts. In addition, this work may include supporting the development, launch and maintenance of investment vehicles. This lawyer will report to the Head of Investments Legal and will work with other lawyers and staff within the Legal and Compliance Team. There will be significant interaction with the CA investment and operations teams; external investment management firms and their legal counsel; and other external parties. The position will be based in London and will be a hybrid role, and is well suited for an attorney with genuine interest in learning how CA’s business functions and providing tailored advice as the London-based member of a global Investments Legal team.

Job Description:

Responsibilities

• Review and negotiate alternative investments across all asset classes, with a focus on closed-end funds (e.g., private equity funds, private credit funds, venture capital funds, secondaries funds, co-investment funds); hedge funds; separately managed accounts; and traditional long-only funds.
• Advise investment teams on commercial and legal terms governing investments. Work closely with investment teams to seek to improve those terms in favor of CA’s clients through negotiation. Draft and edit investment documents.
• Assess suitability of investments from regulatory and local-law standpoints for the accounts of Endowment and Foundation, Pension, and Private clients operating and/or formed in many jurisdictions globally. Coordinate with and manage external counsel.
• Support the development, launch and ongoing operation of various CA investment vehicles, including legal, regulatory and tax structuring, and drafting / reviewing and negotiating constituent documentation (e.g., limited partnership agreements, series agreements, associated offering documents).
• Assist operations teams with legal questions arising in the consummation of investments.
• Gain, record and retain familiarity with the unique characteristics and requirements of many clients.
• Direct, educate and instruct investments and operations teams regarding investment fund documentation and function.
• Advise on corporate actions (e.g., proposed fund amendments and consents), securities laws, investment adviser regulation, corporate matters and other matters.

Qualifications

• The ideal candidate will be a U.S.-trained attorney located in London. Attorneys with substantial professional experience working with U.S. lawyers at a U.S.-based law firm will also be considered. Qualified/licensed to practice law.
• At least 4 years of experience with a top law firm, or a combination of law firm and in-house experience.
• Flexibility
• Interest in working as the London-based member of an Investments Legal team based in the U.S.

Experience and Skills

• General areas of law covered: discretionary and non-discretionary investment advisory services, investment management, private funds, securities, general familiarity with U.S., U.K. and E.U. regulatory matters related to private investment funds, transactional work.
• Experience with privately offered / alternative investments, and related legal documentation including partnership agreements, investment management agreements, LLC agreements, side letters, subscription agreements, NDAs, offering memoranda.
• Familiarity with institutional investment services and/or products.
• Specific experience with primary, secondary, and direct transactions in private equity and venture capital is preferred.
• Experience with regulatory, risk and compliance matters (primarily U.S., U.K., E.U.).
• Exposure to tax matters relating to private investment funds.
• Ability to organize and manage multiple projects simultaneously.
• Comfortable communicating with all levels of the firm (strong written/verbal skills).
• Comfort assessing relative risk and making reasoned decisions efficiently in a high volume environment; attention to detail.
• Ability to take direction and work independently.

Employees of Cambridge Associates Ltd or an affiliated firm, are prohibited from employment or other association with any company, organization, business, or other entity that is involved in any way with the securities or financial services industry except for those entities that are directly affiliated with Cambridge Associates Ltd/GmbH.
 
Employees are prohibited from acting as a Trustee or Director of, or accepting a similar position of responsibility with, any entity that is a client of or directly affiliated with a client of Cambridge Associates, Ltd/GmbH or any of its affiliated companies without prior written consent from the Chief Compliance Officer of Cambridge Associates, Ltd/GmbH.
 
Employees are prohibited from serving on the investment or finance committee of any company or organization with investable funds, or likely to develop investable funds, without prior written consent from the Chief Compliance Officer of Cambridge Associates, Ltd /GmbH.
 
If applying for the role, you need to inform the Recruiter if there are any potential conflicts with the above.

The firm is committed to the concept and practice of equal employment opportunity and will not discriminate against any employee or applicant on the basis of race, color, religion, age, sex, national origin, sexual orientation, gender identity, disability, or veteran status. It is expected that all employees will follow a similar policy toward their co-workers.