Job Number: 9142
Position Title: Senior Professional - VP
Community / Marketing Title: VP, Counsel
The Alternative Products Legal Group currently consists of the head of the group (who was a senior attorney recently promoted to the position), a senior legal officer and an administrative assistant. The new attorney will provide support to the head of the group.
This group is responsible for coordinating and supervising the legal aspects of AB’s privately-offered alternative investment vehicles from launch through the fund’s life cycle. AB’s alternative products platform has expanded dramatically in the past several years. The group supports a number of different client groups within AB. AB currently has over $20 billion in alternative products AUM.
The principal client groups supported by the alternative products legal group are:
- Real Estate Private Equity. This group has raised aggregate capital commitments of over $2 billion.
- Hedge Funds. AB currently manages a number of proprietary hedge funds and a fund-of-managers platform.
- Hedge Fund Fund-of-Funds. AB has a group which manages through AB-sponsored funds-of-funds investments in hedge funds managed by third party managers.
- Sector and Geographic Specific Funds. AB has formed and is managing private funds which invest in mortgage backed securities, regional financial institutions, frontier market companies and the energy sector.
- Private Credit. During the past several years AB has acquired, through lateral acquisitions, groups and individuals who have formed and are managing assets in direct lending or private credit businesses. These include:
- Middle Market Direct Lending. AB has a group based in Austin, Texas, which manages over $4 billion in commitments, including through a recently formed business development company (BDC).
- Real Estate Mortgage Direct Lending. AB’s commercial real estate debt business has raised over $2.5 billion in commitments.
The AB alternative products private investment fund business is growing rapidly and AB may acquire additional groups to fill in gaps in our product offering. AB currently manages approximately $80 billion for high net worth individuals and an important focus of AB’s alternative products business plan is to create fund vehicles which can be marketed to AB’s private clients.
REQUIRED LEVEL OF EXPERIENCE AND EXPERTISE
Candidates should have 3-6+ years of experience with a major law firm, in-house experience in alternative funds formation with an asset management company comparable to AB, or a combination of the two.
Candidates must have the following experience and expertise:
- U.S. and foreign securities law experience with the full range of onshore and offshore private investment vehicle offerings.
- Experience with structuring of U.S. and offshore fund vehicles and familiarity with related tax issues.
- Knowledge of laws and regulations relating to private fund formation and compliance in the U.S. and in frequently used offshore jurisdictions including Luxembourg and the Cayman Islands.
- Knowledge of Delaware limited partnerships, and LLC and trust vehicles and excellent drafting abilities relating to fund formation documents for these vehicles.
- Working knowledge of the requirements of the European Alternative Investment Fund Managers Directive (AIFMD).
- Although not essential, experience with BDCs and MiFID II would be a plus.
The position requires the following well-developed skills:
Complex drafting, clear and concise written and oral communication, creative structuring, negotiation and client management.
The candidate should have the following personal attributes:
- A strong work ethic
- Ability to manage simultaneously numerous complex assignments
- Strong interpersonal skills including being a collaborative team player, even tempered, and able to work with demanding clients
- Maturity and good judgment
- Well organized and detailed oriented
Location: New York, NY
We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
Location_formattedLocationLong: New York, New York US
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