Investment Funds Lawyer

Location: Cannon Street, City of LondonSalary: Dependent on experience - Benefits include Civil Service pension and bonusTenure: PermanentPosition type: Full TimeThe vacancyAt the Pension Protection Fund (PPF), we safeguard the futures of nearly 300,000 members by compensating defined benefit (DB) pension scheme holders when their sponsoring employers become insolvent. With over £30 billion in assets under management, our investments support long-term economic growth across the UK.The PPF’s investment team manages over £30 billion in assets on behalf of nearly 300,000 members. We’ve received multiple industry awards, including recognition at the IPE European Pension Fund Awards, and are widely respected for our innovative approach and high standards across investment and operations.Working in a close-knit team of three, we require an experienced investment funds lawyer with significant private funds experience to primarily provide advice on the law as applicable to new fund investments but also all ongoing asset management activity. The advice will involve balancing legal risk, commerciality and market best practice in a timely fashion. This role will be hands-on in negotiating, drafting and managing investment transactions, particularly in the private funds space, and will work directly with the Investment team in the PPF’s Cannon Street office.The Investment Lawyer is a key part of the deal team and will be involved from the start to the end of a transaction, providing comprehensive, timely and cost-effective advice on:New fundings into externally managed funds (via pooled vehicles, co-investments and funds of one in private equity, infrastructure, private sub-IG debt, and real estate). Key tasks include reviewing the legal structure and jurisdiction of the fund (and understanding the interplay with tax), reviewing and negotiating term sheets, private placement memorandums, limited partnership agreements, side letters, subscription agreements and feeding into investment committee papers. Private funds experience is essential;Direct debt investments (typically investment grade infrastructure and housing) – key tasks include assessing the structure of a transaction, reviewing and negotiating term sheets, private placement agreements, facility agreements, security agreements and feeding into investment committee papers. The candidate must have a deep understanding of key protections for investors and what is market standard on provisions such as waterfall mechanics, subordination mechanics, financial covenants, make-whole and transfer mechanics. Experience of working on infrastructure debt transactions would be highly desirable; andReviewing and negotiating investment management agreements governing our externally managed portfolios and other ancillary documents.You will be working closely with other team members such as the Head of Investment Tax to identify and manage tax leakage risks on transactions and the Operational Due Diligence, Compliance and Risk teams to ensure internal governance processes and procedures are satisfied. Excellent time management skills, prioritising workload effectively and ensuring timelines are met on deals are essential for this role.There may be an opportunity to assist with derivatives work such as amending ISDA documentation and advising on clearing, UMR and relevant legislation (typically alongside external counsel), thus derivatives experience would be helpful but not necessary.Sound like you? Apply now.We are proud to be a Disability Confident Leader and actively encourage applications from people with disabilities. We are committed to ensuring our recruitment process is inclusive and accessible. If you require any reasonable adjustments during the recruitment process, please let us know. We are happy to discuss your needs and ensure you have the support required.We embrace diverse talent welcoming people with different beliefs, backgrounds and ways of working. Whatever your background, and however you identify, you’ll be welcome here.No agencies please