Case Study

PROBLEM

Our client sought a Chief Compliance Officer & General Counsel. Until the time of our engagement, legal issues were being addressed by external lawyers and lawyers who worked for the parent company level. With the firm’s needs having been expanded with growth in AUM, the firm required its own dedicated counsel.

The role was multifaceted and therefore required a candidate with a broad range of experience, but also the inherent leadership skills to build out the function. A sample of the duties included fund compliance, managing and advising on regulatory issues, client onboarding, drafting investor letters, and coordinating with outside counsel as the firm sought to deploy more capital.

APPROACH

Our approach was to target candidates who were CCOs & GCs from alternative fund management firms (including real assets, infrastructure and others) and those whose background includes compliance, regulatory and related matters. Senior legal & compliance professionals from a range of industries outside of the “alternatives” space were also assessed.

In conducting this assignment, we found that a number of candidates gravitated towards the broad nature of the role. While many who came from compliance backgrounds were less suited to the demands of this role, the winning search strategy was to identity individuals who were in “2ic” positions, who were blocked, and who had the requisite experience to step into a leadership role.