Sr. Paralegal, Alternative Investments

Northern Trust•Chicago, IL

1d•Hybrid

About The Position

The Senior Alternative Investments Paralegal supports Northern Trust’s asset management legal team and alternative investments business, including private equity, hedge fund, real asset, and fund-of-funds products. Under the direction of attorneys and with a minimum of supervision, the role handles relatively complex legal tasks, including legal research, fund offering and transaction documentation, investor onboarding and closings, regulatory filings, and ongoing fund matters. The paralegal coordinates with internal and external stakeholders, including portfolio management, operations, fund administrators, auditors, outside counsel, investors, and government agencies. The role also maintains fund entity and legal records, supports transaction closings, and assists with training and mentoring new paralegals or interns. This is a hybrid role, with time split between working in the office and working from home. Applicants must be authorized to work in the United States without current or future employment-based visa sponsorship.

Requirements

At least eight years of experience.
Bachelor’s degree in paralegal studies, a paralegal certificate, or an equivalent combination of formal education, training, and/or experience.
Previous experience in a corporate law department, asset management, and/or a large law firm working in investment management or private funds.
Knowledge of the financial services industry and alternative investment products, such as private equity, hedge funds, real assets, and/or fund-of-funds.
Knowledge of private fund structures and applicable securities laws and regulations, including Regulation D under the Securities Act of 1933 and the Investment Advisers Act of 1940.
Knowledge of SEC EDGAR and state blue sky filing processes.
Professionalism and skill working in a team environment and coordinating workloads.
Ability to multitask and consistently meet aggressive, time-sensitive deadlines.
Excellent written and verbal communication, organizational, and time-management skills; ability to process a large workload with competing deadlines.
Knowledge of legal terminology and strong analytical skills for conducting legal research.
Excellent customer service skills.
Ability to work effectively with internal and external clients, team members, management, and staff.
Self-motivated, confident problem solver able to work in a fast-paced environment.
Authorization to work in the United States without employment-based visa sponsorship now or in the future.

Responsibilities

Support private fund formation and offerings, including preparing, reviewing, and coordinating private placement memoranda, limited partnership and operating agreements, subscription documents, side letters, and related fund documentation.
Manage investor onboarding by reviewing subscription documents for investor eligibility, ERISA or benefit plan investor status, and coordinating AML/KYC review with fund administrators and compliance.
Coordinate fund launches, closings, and ongoing fund matters with internal and external stakeholders, including portfolio management, operations, fund administrators, auditors, and outside counsel.
Escalate matters and consult with Legal Department attorneys on special projects and assignments; identify relevant issues, applicable laws, and relevant aspects of client relationships.
Prepare and file Form D and state blue sky notice filings; assist with Form ADV, Form PF, and other regulatory reporting as requested by attorneys.
Review fund documentation, capital call and distribution notices, transfers, and redemptions to identify deadlines and ensure conformity with governing documents and legal requirements.
Conduct independent complex legal research on specific issues.
Communicate with investors, clients, fund administrators, and government agencies or officials to answer questions and collect and assemble information.
Provide transaction management support by preparing and maintaining closing checklists, coordinating signature pages, assembling closing sets, and tracking side letter obligations and MFN elections.
Document and maintain fund entity records, executed fund documents, and updates in the legal database.
Work closely with external counsel.
Assist in training and mentoring new paralegals and interns.
Assist with projects and tasks as assigned.