Job Description

About this Position

The Senior Legal Counsel will support the firm’s alternative investments platform by providing legal advice and guidance across private funds, alternative investment products, and related advisory activities. This role may involve supporting the structuring, launch, offering, governance, and ongoing operation of alternative investment vehicles and related mandates, including private equity, private credit, CLOs, and other private market strategies. Responsibilities include drafting and negotiating fund documents, side letters, subscription and investment management documentation, separately managed account and funds-of-one arrangements, and other strategic commercial agreements; advising on regulatory and compliance matters affecting private fund advisers and investment advisers; analyzing new laws and regulatory developments and advising on their impact; and partnering with business, compliance, risk, tax, operations, and other legal colleagues on strategic initiatives and complex legal issues affecting the alternative investments business.

• Requires specialized knowledge and expertise in their own job discipline and experience in integrating related disciplinary knowledge
• Supports a discipline or cross-functional program of notable risk; uses sophisticated analytical thought to identify innovative solutions
• Accountable for work of self and others; sets standards around which others will operate
• Works independently, with guidance in complex situations
• Acts as adviser to management and key external stakeholders on broad ranging projects

Responsibilities

• Provides day-to-day legal support to the alternative investments business, including advising on the formation, structuring, offering, governance, and ongoing maintenance of private funds and related products. Drafts, reviews, and negotiates fund documentation, side letters, subscription materials, investment management agreements, distribution-related agreements, and other related agreements, while balancing legal, regulatory, operational, and reputational risk.
• Partners closely with others on the legal team, compliance, risk, operations, finance, tax, investor relations, and business leadership to develop practical legal solutions for complex issues affecting alternative investment products and advisory activities. Coordinates with internal and external counsel on matters involving the Investment Advisers Act of 1940, private fund requirements, offering and disclosure matters, and other applicable U.S. and non-U.S. regulatory regimes.
• Maintains deep knowledge of alternative investment structures, products, and strategies, as well as the regulatory frameworks applicable to private fund sponsors and investment advisers. Monitors legal and regulatory developments affecting private funds, preferential treatment and side letter practices, disclosure obligations, fund governance, and adviser compliance obligations, and translates those developments into actionable guidance for the business.
• Handles a portfolio of moderate to highly complex legal matters relevant to alternative investments, including private fund launches, amendments to existing vehicles, investor negotiations, product development initiatives, and strategic business projects. Serves as a trusted adviser to internal stakeholders on issues requiring sound judgment, strong drafting skills, and commercial pragmatism.

Qualifications

Required:

• Law degree from an accredited School of Law and admission to the MD State Bar or another state bar, plus at least 8+ years of total relevant legal experience
• Experience working in or for a regulated financial institution, investment manager, private fund sponsor, or law firm supporting asset management or alternative investments, with familiarity with relevant federal securities and investment adviser regulatory frameworks

Preferred:

• Attorney with in-house asset management, private funds, or alternative investments experience and 5+ years of experience in a relevant practice area
• Experience drafting and negotiating private fund documentation, side letters, subscription materials, investment management agreements, and other documents relating to alternative investment products and institutional investors
• Demonstrated experience working effectively with attorneys, compliance, risk, operations, tax, and business teams in a fast-paced asset management or alternative investments environment
• The successful candidate will demonstrate a strong willingness to learn and a proactive approach to tackling complex and multifaceted work assignments
• Ability to interact effectively and work in partnership with a diverse group of internal and external contacts

FINRA Requirements

FINRA licenses are not required and will not be supported for this role.

Work Flexibility

This role is eligible for hybrid work, with up to one day per week from home.

Base Salary Ranges

Please review the job posting for the location of this specific opportunity.

$145,000.00 - $247,000.00 for the location of: Maryland, Colorado, Washington and remote workers
$159,000.00 - $272,000.00 for the location of: Washington, D.C.
$181,000.00 - $309,000.00 for the location of: New York, California

Placement within the range provided above is based on the individual’s relevant experience and skills for the roleBase salary is only one component of our total compensation packageEmployees may be eligible for a discretionary bonus, which is determined upon company and individual performance.

Commitment to Diversity, Equity, and Inclusion

At T. Rowe Price, our associates are our greatest asset. We thrive because our company culture is built on inclusion and because we sustain a work environment where associates can bring their best selves to work every day. The backgrounds, talents, and experiences of our global associates allow us to embrace new ideas and perspectives that move our business priorities forward and enable us to deliver strong client outcomes. Here, you can expect equal opportunity and fair and consistent treatment for all.

Benefits

T. Rowe Price is an equal opportunity employer and values diversity of thought, gender, and race. We believe our continued success depends upon the equal treatment of all associates and applicants for employment without discrimination on the basis of race, religion, creed, color, national origin, sex, gender, age, mental or physical disability, marital status, sexual orientation, gender identity or expression, citizenship status, military or veteran status, pregnancy, or any other classification protected by country, federal, state, or local law.