Tax Counsel

Cambridge Associates • Boston, MA

4d • $200,100 - $272,100 • Onsite

About The Position

Cambridge Associates (“CA”) is a leading global investment firm. CA’s goal is to help endowments & foundations, pension plans, and ultra-high net worth private clients implement and manage custom investment portfolios that generate outperformance so that they can maximize their impact on the world. Cambridge Associates delivers a range of services, including outsourced CIO, non-discretionary portfolio management, and investment consulting. Headquartered in Boston, Massachusetts, CA has offices in key markets in North America, the United Kingdom, Europe, Asia, and Oceania. Our worldwide teams ensure our clients benefit from decades of global presence, local expertise, and relationships with the top global investment managers across the world. For more information, please visit www.cambridgeassociates.com. The Tax Counsel will be responsible for providing tax support for discretionary client investment processes. This work will include reviewing, analyzing, negotiating and advising on fund and other investment structures, and tax terms and provisions found in private fund and other investment documentation. In addition, this work is expected to include supporting the development, launch, and operation of investment vehicles (e.g., assisting investment teams, advising on GP matters, partnership transfers, and fund tax compliance).

Requirements

• J.D. degree required.
• Licensed and in good standing to practice in the United States.
• 2-4 years of experience as a tax attorney (or investment funds attorney with significant tax exposure) with a top law firm or international accounting firm (e.g., “Big 4”), or a combination of law firm/accounting firm and in-house legal department experience.
• Role will be based in CA’s Boston office.
• General areas of law covered: partnership, corporation, and international tax issues related to advising pension plans, charitable institutions, sovereign wealth funds, and family offices (domestic, foreign, and multinational) investing globally in private funds; investment management; and investment fund structures.
• Experience with cross-border tax matters (e.g., DTTs/tax treaty considerations, OECD, BEPS, Pillar Two, ATAD, DAC 6).
• Familiarity with non-U.S. tax matters, such as a general understanding of tax matters and structures relevant in UK, Germany, Singapore, the EU, DACH region, and other jurisdictions/regions from a global private investment perspective.
• Familiarity with U.S. tax withholding, FATCA, and CRS standards.
• Experience advising on tax issues related to private funds and investment management, and familiarity with the related legal documentation (e.g., partnership agreements, investment management agreements, LLC agreements, side letters, subscription agreements, offering memoranda, and their foreign equivalents).
• Ability to organize and process multiple projects, documents, and legal matters simultaneously.
• Comfort and ability communicating with all levels of employees (strong written/verbal skills).
• Ability to produce high quality output in high volume environment; attention to detail.
• Strong collaboration skills as member of a small team.
• Ability to take direction and work independently.

Nice To Haves

• Some familiarity with the differences between hedge funds, private equity funds, venture capital funds, private credit funds, funds-of-funds, and real estate funds is preferred.
• Familiarity with private investment fund structuring (e.g., blockers, feeder funds, parallel funds, alternative investment vehicles).

Responsibilities

• Analyze U.S. and non-U.S. private fund structures and review tax provisions and terms in private fund legal documents, such as subscription, partnership, investment management and side letter agreements and offering memoranda (and their foreign equivalents). Assess suitability of investments across alternative asset classes from a tax standpoint for the accounts of Endowment and Foundation, Pension, Insurance, Government, and Private/Family clients operating and/or formed in jurisdictions globally.
• Coordinate with and manage external counsel, distilling their advice for internal stakeholders.
• Advise investment teams on tax aspects of proposed investment(s) upon the legal review of instruments/documentation and diligence relevant to such investment(s) and with regard to Cambridge Associates’ varied obligations pursuant to its discretionary client platform. Answer questions from investment and operations teams, as well as other lawyers, about tax terms and provisions in fund documents and related fund structures. Consider, draft, and assess legal tax due diligence and coordinate such diligence with third-party managers’ counsel.
• Negotiate the tax provisions of side letters, partnership agreements and other investment documentation. Draft and edit these documents. Advise on risks and propose solutions or courses of action.
• Guide operations personnel to correctly complete asset managers’ onboarding documentation, such as subscription agreements, by advising on the meaning of questions or terms in those documents. Guide investment teams on “most favored nations” elections. Advise on tax-related amendments, consent proposals and other corporate actions presented by private fund managers to investors.
• Provide general, tax-related education and advice to internal stakeholders firmwide.
• Monitor changes and developments relevant to U.S. and international tax law, regulation, and compliance and advise internal stakeholders in terms of risk and procedure.
• Support client onboarding teams, client relationship teams, and Legal, generally, with regard to prospective client matters, such as reviewing tax-related covenants and expectations.
• Assist in special projects. For instance, (i)supporting the organization and ongoing operation of special purpose vehicles formed to facilitate client investments, (ii) contributing to the standardization of core tax workflows, and (iii) assisting with data initiatives with the goal of supporting efficiency and scalability efforts.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Ph.D. or professional degree