Steven Klar regularly advises some of the largest and most well-known private fund sponsors, including Blackstone, Centerbridge, Lexington Partners and Madison International Realty. Certain noteworthy private fund formation transactions include: Blackstone Capital Partners VIII, Blackstone Capital Partners VII ($18 billion), Blackstone Real Estate Partners Asia II ($7.1 billion), Centerbridge Capital Partners III ($6 billion) and Lexington Capital Partners X ($22.7 billion). He has also represented various sponsors of private equity funds, including buyout funds, real estate funds, secondary funds and other alternative investment funds on fundraisings, co-investments, managed accounts and structured secondary transactions as well as ongoing advisory matters. Recently, Steven was recognized as a 2020 Law360 “Rising Star” in Fund Formation and named to Private Equity International’s 2020 “Future 40” list.
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Work Highlights
- Blackstone in a number of fundraisings, including the establishment of Blackstone Capital Partners VIII, Blackstone Capital Partners VII at $18 billion, Blackstone Core Equity Partners II at $8 billion, Blackstone Real Estate Partners Asia II at $7.1 billion, Blackstone Capital Partners Asia II at $6.4 billion, Blackstone’s inaugural growth equity fund at $4.5 billion and Blackstone Capital Partners Asia at $2.3 billion and various co-investment vehicles and other separate accounts
- Centerbridge in a number of fundraisings, including the establishment of Centerbridge Capital Partners III, L.P. at $6 billion and various co-investment vehicles, including Centerbridge’s first dedicated real estate fund
- Lexington Partners in a number of fundraisings, including the establishment of Lexington Capital Partners X at $22.7 billion, the largest-ever secondaries fund, and its predecessor Lexington Capital Partners IX program at $14 billion
- Madison International Realty in the establishment of Madison International Real Estate Liquidity Fund VIII at $1.7 billion
- Several private equity sponsors in connection with structured secondary transactions which took the form of asset sales, restructurings and tender offers
- EQT in connection with the formation and raising of EQT’s flagship private equity fund, EQT VIII, which raised €10.75 billion
Accolades
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PEI 2020 “Future 40” in Private Equity
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Law360 2020 "Rising Star" in Fund Formation
Education
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Fordham University School of Law, 2009 J.D.
magna cum laude; Law Review; Milton Young Tax Award
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Yeshiva University, Sy Syms School of Business, 2003 B.S.
Admissions
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New Jersey 2009
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New York 2009
Steven Klar is a Partner in the Firm’s Private Funds Practice. Steven focuses on the formation and operation of private equity funds, including buyout funds, real estate opportunity and real estate debt funds, secondary funds, co-investment funds, “funds-of-one” and managed accounts.
He regularly represents some of the largest and most well-known private fund sponsors, including Blackstone, Centerbridge, Lexington Partners and Madison International Realty. In addition, Steven has recently represented various sponsors in connection with structured secondary transactions and other ongoing advisory matters.
Some keynote representations have included:
- Blackstone in a number of fundraisings, including the establishment of Blackstone Capital Partners VIII, Blackstone Capital Partners VII at $18 billion, Blackstone Core Equity Partners II at $8 billion, Blackstone Real Estate Partners Asia II at $7.1 billion, Blackstone Capital Partners Asia II at $6.4 billion, Blackstone’s inaugural growth equity fund at $4.5 billion and Blackstone Capital Partners Asia at $2.3 billion and various co-investment vehicles and other separate accounts
- Centerbridge in a number of fundraisings, including the establishment of Centerbridge Capital Partners III, L.P. at $6 billion and various co-investment vehicles, including Centerbridge’s first dedicated real estate fund
- Lexington Partners in a number of fundraisings, including the establishment of Lexington Capital Partners X at $22.7 billion, the largest-ever secondaries fund, and its predecessor Lexington Capital Partners IX program at $14 billion
- Madison International Realty in the establishment of Madison International Real Estate Liquidity Fund VIII at $1.7 billion
- Several private equity sponsors in connection with structured secondary transactions which took the form of asset sales, restructurings and tender offers
- EQT in connection with the formation and raising of EQT’s flagship private equity fund, EQT VIII, which raised €10.75 billion
- Blackstone in its acquisition of a majority stake in MagicLab, valuing the company at $3 billion
- Refinitiv in its $27 billion sale to the London Stock Exchange Group
Recently, Steven was recognized as a 2020 Law360 “Rising Star” in Fund Formation and named to Private Equity International’s 2020 “Future 40” list.
Steven received his J.D., magna cum laude, from Fordham University School of Law in 2009 and his B.S. from Yeshiva University, Sy Syms School of Business in 2003. He is admitted to practice in New York and New Jersey.