Legal Counsel - Private Debt

StepStone Group•New York, NY

2h•$165,000 - $190,000

About The Position

The Legal Counsel will support StepStone’s Private Debt business in the United States, working regularly with US, European, and Asian counterparties and counsel. The role reports directly to the Associate General Counsel, Private Debt, in the New York office, and is part of the Private Debt legal team and the wider Legal & Compliance team. This is a primarily transactional, hands-on role covering credit agreements, fund finance, sourcing agreements, structured products, collateralized loan obligations (CLOs), and special purpose vehicle (SPV) and bankruptcy-remote structures. The role also supports client mandates and fund formation as needed, with exposure to sophisticated transactions across the full transaction lifecycle, from structuring and negotiation through closing and post-closing matters.

Requirements

Juris Doctor (JD).
Admission to and good standing with the New York State Bar.
Approximately 3–5 years of experience at a reputable law firm.
Transactional experience with credit agreements, fund finance, structured products, CLOs, or securitizations, including preparing first mark-ups or issues lists.
Grounding in finance, general corporate, or transactional practice.
Ability to reach a well-reasoned view quickly on unfamiliar questions and distinguish what is known, assumed, and needs checking.
Hands-on approach and ownership of matters through completion; receptive to feedback and able to apply it consistently.
Comfort working on unfamiliar structures, proactively closing knowledge gaps, and exercising good judgment about when to seek guidance.
Ability to handle confidential information with discretion.
Ability to work independently under an appropriate level of supervision and proactively manage a book of work.
Professional communication with internal and external staff at all levels.
Effective time management, attention to detail, and commitment to completing accurate work on time.
Collaborative approach and willingness to assist others and share best practices across asset classes.
Ability to flourish in a challenging, fast-paced professional environment with shifting priorities.
Integrity and conduct consistent with StepStone’s expressed values and ethical principles.
Focus on goals, personal growth, accountability, and urgency in achieving results.
Candidates must be at least 18 years old to apply.

Nice To Haves

Experience across several practice areas is viewed positively.
Familiarity with fund or vehicle documents, including limited partnership agreements, subscription documents, and side letters.
Exposure to secured, collateralized, or asset-based financing arrangements, SPV or bankruptcy-remote structures, or sourcing agreements; genuine interest in these areas will also be considered.
Exposure to non-US transactions or structures; experience in a particular jurisdiction is not required.
M&A experience is welcome but not required.

Responsibilities

Review, draft, and negotiate documentation for Private Debt transactions, including credit agreements and facilities; subscription, NAV, and other fund-level facilities; sourcing agreements; structured product and CLO documentation; intercreditor, security, and collateral documentation; and loan purchase and transfer documentation.
Prepare first mark-ups and issues lists, work through document mechanics, and raise points requiring attention early.
Assist with the formation, structuring, governance, and ongoing maintenance of SPVs, including bankruptcy-remote structures used in structured finance and CLO transactions.
Assist with ISDA and hedging documentation connected to financings.
Support post-closing portfolio matters, including restructurings, workouts, amendments, and consents as needed.
Coordinate parallel legal, tax, and operations workstreams and maintain a clear record of agreed points, open items, and next steps.
Identify regulatory and tax issues, including Investment Advisers Act, ERISA, and relevant Investment Company Act considerations, as well as rated note and risk retention points in CLO and securitization transactions; escalate issues to appropriate internal stakeholders.
Work with Compliance on MNPI, information barrier, and restricted list matters arising from investment activity.
Coordinate with and manage outside counsel and other service providers, including on non-US structures and cross-border matters.
Support senior attorneys on client mandates, including separately managed accounts, funds-of-one, co-investment vehicles, and related investment advisory agreements, and on fund formation matters, including evergreen and semi-liquid vehicles, as required.
Contribute to special projects such as process improvement, knowledge management, template development, and legal technology implementation.