Asset Management (Private Funds) Associate

Ropes & Gray LLP; Chicago (IL); On-site; USD 150,000 - 230,000; Full time

Job summary

Ropes & Gray LLP in Chicago seeks a skilled associate to advise on formation, structuring, and ongoing operation of private investment funds across private equity, hedge, credit, and venture capital strategies.

Responsibilities include drafting and negotiating fund formation documents, counseling sponsors and institutional investors on governance and economics, ensuring securities compliance, conducting due diligence, and supporting fund restructurings and wind‑downs, with mentoring of junior

Responsibilities

• Advising on formation, structuring, and ongoing operation of private investment funds across asset classes and strategies.
• Drafting and negotiating fund formation documents, such as limited partnership agreements, subscription agreements, private placement memoranda, investor side letters, and management company/GP formation documents.
• Counseling fund sponsors and institutional investors on governance, economics, fee structures, and co-investment arrangements.
• Ensuring regulatory compliance with securities laws, including the Advisers Act and the Investment Company Act, and advising on registration/exemption analysis, AML, and Form D/Form PF filings.
• Conducting due diligence reviews of investment documents, organizational materials, and third-party service provider agreements.
• Supporting fund transactions, including restructurings, secondaries, continuation funds, and wind-downs.
• Assisting with fund marketing efforts and investor relations, including review of marketing materials and compliance with advertising rules.
• Monitoring developments in laws, regulations, and market practices affecting private funds.
• Collaborating with colleagues across practice groups to provide comprehensive, cross-disciplinary legal advice.
• Managing multiple concurrent matters and mentoring junior associates.

Job description

Overview

• Advising clients on the formation, structuring, and ongoing operation of private investment funds, including private equity funds, hedge funds, credit funds, venture capital funds, and other alternative investment vehicles across diverse asset classes and strategies.
• Drafting and negotiating fund formation documents, such as limited partnership agreements, subscription agreements, private placement memoranda, investor side letters, advisory committee agreements, and management company/general partner entity formation documents.
• Counseling fund sponsors and institutional investors on fund governance, economic terms, fee structures, and co-investment arrangements.
• Ensuring regulatory compliance with applicable securities laws, including requirements under the Investment Advisers Act and the Investment Company Act, and advising on specific regulatory matters such as registration/exemption analysis, anti-money laundering requirements, and Form D/Form PF filings.
• Conducting due diligence reviews of investment documents, organizational materials, and third-party service provider agreements.
• Supporting various fund transactions, including restructurings, secondary transactions, continuation fund vehicles, and fund wind-downs.
• Assisting with fund marketing efforts and investor relations, including the review of marketing materials and compliance with advertising rules.
• Monitoring and communicating developments in laws, regulations, and market practice affecting the private funds industry.
• Collaborating with colleagues across practice groups to provide comprehensive, cross-disciplinary legal advice.
• Managing multiple concurrent matters and actively coaching and mentoring junior associates.