Associate (Asset Management Tax)

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Recruitment Business Partner at Travers Smith

Travers Smith is a leading full-service law firm, with a wealth of experience in its areas of specialisation. The firm has a market-leading reputation for its international expertise in Asset Management, M&A and Dispute Resolution & Investigations. Clients include asset managers across the alternative asset classes (private equity, venture, credit, infrastructure and real estate), publicly listed and private companies, financial institutions, and other business enterprises involved in large and complex UK and cross-border matters, transactions and disputes. Our purpose is to provide the highest quality of service to our clients whilst enabling our people to achieve professional fulfilment in a supportive, inclusive and enjoyable working environment.

Department

We are one of the City\’s leading tax practices, recognised by clients and peers for our technical excellence, thought leadership and ability to think commercially. Our reputation and size gives us a breadth of expertise, knowhow and influence which many other tax departments simply cannot match.

On the asset management side, we advise some of the world\’s largest GPs in relation to all aspects of their UK and European businesses. The tax team works closely with the firm\’s market leading Financial Services practice and these clients look to us to provide joined-up tax and regulatory advice on their most complex matters. Our work often has an international element.

The tax team also works closely with the firm\’s award-winning Funds team to advise on fundraisings across all alternative strategies – private equity, venture, credit, infrastructure and real estate. The team also works on asset management matters which require both funds expertise and M&A experience – primarily in relation to fund secondaries, GP stakes and asset management M&A more generally. Tax is obviously integral to these transactions.

As a result, the variety of work available to the associates in relation to asset management tax is very broad and of an exceptional quality.

Our involvement with the key industry representative bodies (including AIMA, the BVCA and Invest Europe) enables us to influence policy to ensure that where possible, new law is clear, effective and well-targeted. We are fortunate to have a senior knowledge lawyer specialising in asset management tax who helps us ensure we are at the cutting edge of this policy development and who works with the tax partners to ensure our associates have the right training and resources (see below) to develop their technical skills.

The Tax team operates in a supportive and inclusive way, which aims to allow all members to perform to the best of their abilities and to be themselves at work. We continue to work hard to promote diversity of all descriptions within the team and have already achieved some notable successes in this regard, not least a partner group which is currently 80% female. We place a value on being good \’firm citizens\’ and we support our associates in taking part in a variety of initiatives at a wider firm level, including D&I, CSR, Graduate Recruitment, and other firmwide business development and management initiatives. We have our own associate social committee which organises a variety of department-focused and cross-departmental events and we have regular offsite and team-building events.

We place a very high value on learning and development for our associates. This is achieved through structured formal training, including weekly whole department meetings and supplementary training for junior associates, and also through our room sharing system, where rooms are shared between a number of lawyers of varying degrees of seniority. Added to this, there is a programme of cross-departmental training which Tax associates can participate in, and regular \”milestone training\” sessions, aimed at giving associates training in a variety of skills relevant to their level of seniority.

The Role

We are looking for a 3-4 PQE Associate to join our Tax (Asset Management) team. Some experience in asset management tax and / or partnership tax matters is preferred, but not essential – it is more important to demonstrate interest in this area and a strong track record as a junior tax practitioner more generally.

Key Responsibilities

• Investment fund structuring and formation: we advise asset managers across the alternative classes on their fund structures (both listed and unlisted, and open and closed ended) and work with our funds and regulatory colleagues to decide on the optimum fund structure.
• Tax advisory work to asset manager clients: We are privileged to count many of the world’s largest asset managers as our clients (as well as smaller and first-time managers). Our advice is wide-ranging, from structuring carried interest and co-investment through to advising on VAT, group restructurings and global mobility issues.
• Negotiating our client\’s tax position in relation to acquisitions and disposals with a strong funds / asset management flavour: This includes fund secondary transactions, GP stake investments and asset management M&A.
• Early stage tax disputes: Tax authorities are increasingly assertive in pursuing taxpayers and challenging their tax affairs. We work with our clients to avoid costly and lengthy tax disputes.
• Acting for investors: Investing in funds can give rise to complex tax issues even where an investor is largely tax exempt. We act for some of the UK’s largest pension funds as well as fund of funds, sovereign wealth funds and family offices as they invest into alternative asset classes or buy and sell fund interests in the secondary market.

The work of the Asset Management Tax team frequently crosses over with the work done by the other sub-groups within the Tax team – being the Transactional and Incentives and Remuneration groups – and our associates will have the opportunity to collaborate with other members of the Tax team in relation to work of this sort, and, where appropriate, to undertake work that crosses over into these areas. There is no requirement for associates to rotate through the different sub-groups, but for those who wish to do so (or who simply wish to gain some experience in these areas whilst remaining in the Asset Management Tax team), we can generally facilitate this, subject to business need and other considerations. In addition, there may be opportunities for client or overseas law firm secondments from time to time.

Personal Specification – Experience, Knowledge & Skills

• An outstanding academic record.
• E&W Qualified Solicitor with 3-4 PQE
• Some experience in asset management tax and / or partnership tax matters is preferred, but not essential – it is more important to demonstrate interest in this area and a strong track record as a junior tax practitioner more generally.
• Strong technical ability.
• Evidence of strong verbal and written communication skills.
• An ability to demonstrate proactivity and good matter management.
• A team player who thrives working within a collaborative environment.
• A willingness to show commitment and engagement to the firm\’s culture.

Office Move

We are excited to be moving from our London headquarters in Snow Hill, to a brand-new building in the City – Stonecutter Court. The move is expected to take place in early 2026.

Diversity & Inclusion statement

We value and celebrate the unique backgrounds, perspectives, and experiences of every individual including differences in gender, ethnicity, disability, faith, and more. We’re committed to building an inclusive workplace that reflects the diversity of our clients and communities, where everyone feels empowered, respected, and heard. We actively partner with organisations and networks that champion equality and fairness, ensuring our policies and practices uphold these values.

Accessibility statement

If individuals have any accessibility issues when reviewing this document, please notify a member of the Travers Smith HR team so that the document can be provided in your preferred format, such as large print, audio, or braille.

Support and Adjustments for candidates

We are committed to ensuring that people who are disabled or have a long-term condition are empowered in their identity, valued equally, and listened to. If we can adjust the recruitment process to make it more accessible, please let us know. For further information please visit our website: Recruitment – Support and adjustments for candidates | Travers Smith