Alston & Bird announced today that Emily Stephens has joined the firm as a partner in Los Angeles. Emily will work primarily with the firm’s Investment Funds Group, Fund Finance Group, and Private Credit Group. Her arrival further expands the firm’s investment funds and fund finance / private credit offerings and strengthens its West Coast impact.
“Emily is a well-connected attorney with deep industry knowledge of investment funds and credit investing, amplified by her time spent in-house with investment firms,” said Tim Selby, Alston & Bird partner and head of the investment funds practice. “Her background aligns seamlessly with the broad range of capabilities our team provides to investment management clients. With experience on both sides of the table, she delivers practical, commercial advice.”
Emily advises fund sponsors and asset managers on the structuring, formation, and operation of a wide variety of alternative investment funds, including private equity, credit (private credit, high yield, and distressed), venture/growth capital, and real estate energy transition funds; and open-end, and closed-end, or separate account structures alternative investments, as well as management company and carry arrangements. She also represents lenders and borrowers in carry and equity arrangements, fund governance, and fund finance / private credit facilities, including NAV and other fund-related term loans or revolvers.
Emily’s insights into both investment funds and private credit investing are informed by over 14 years of experience at global alternative investment manager Oaktree Capital Management L.P., where she served her impressive transactional experience as a member of the distressed debt investing team for six years and on the boards of more than 10 public and private companies, including companies in the alternative lending space. In light of this experience, Emily offers clients a commercial approach to legal issues that is informed by real-world experience.
With over 14 years of experience in managing director roles at global alternative investment manager Oaktree Capital Management, Emily served as lead lawyer in all aspects of fundraising for what was at the time the world’s largest closed-end distressed debt fund at $10.9 billion. She also served as vice president and associate general counsel for Trust Company of the West, where she advised on fund formation matters.
Following the hires of partners Heather Wyckoff, Sam Roh, and George Silfen during the last year, Emily is the latest addition to Alston & Bird’s Investment Funds Group.
“Alston & Bird is known for offering a robust platform for investment managers in every stage of their life cycle and also has a first-class finance practice,” said Emily. “I am thrilled to work with my talented new colleagues to grow the investment funds and fund finance / private credit practices in Los Angeles.”
Alston & Bird’s Investment Funds Group serves a broad array of sophisticated clients across the asset management and financial services industries. The team guides investment fund managers on structuring private investment funds, registered investment companies, and fintech platforms, broker-dealers, and other types of financial institutions distributing innovative investment products. The strength of its investment funds expertise is bolstered by many other key practices, including its robust corporate, tax, private credit, structured finance, real estate, and financial services teams.