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 IX (and its predecessor funds), Blackstone Real Estate Partners Asia III (and its predecessor funds), Centerbridge Capital Partners III and Lexington Capital Partners X (and its predecessor fund). 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. 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 IX (and its predecessor funds Blackstone Capital Partners VIII and Blackstone Capital Partners VII) ($18 billion), Blackstone Core Equity Partners II ($8 billion), Blackstone Real Estate Partners Asia III (and its predecessor funds Blackstone Real Estate Partners Asia II [$7.1 billion] and Blackstone Real Estate Partners Asia), Blackstone Capital Partners Asia II at $6.4 billion (and its predecessor fund Blackstone Capital Partners Asia [$2.3 billion]), Blackstone’s inaugural growth equity fund at $4.5 billion and various co-investment vehicles and other separate accounts
- Blackstone in its acquisition of AirTrunk at A$24 billion (US$16.1 billion)
- 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
- EQT in connection with the formation and raising of EQT’s flagship private equity fund, EQT VIII, which raised €10.75 billion
- Several private equity sponsors in connection with structured secondary transactions which took the form of asset sales, restructurings and tender offers
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.
Notable work highlights include representation of:
- Blackstone in a number of fundraisings, including the establishment of Blackstone Capital Partners IX (and its predecessor funds Blackstone Capital Partners VIII and Blackstone Capital Partners VII) ($18 billion), Blackstone Core Equity Partners II ($8 billion), Blackstone Real Estate Partners Asia III (and its predecessor funds Blackstone Real Estate Partners Asia II [$7.1 billion] and Blackstone Real Estate Partners Asia), Blackstone Capital Partners Asia II at $6.4 billion (and its predecessor fund Blackstone Capital Partners Asia [$2.3 billion]), Blackstone’s inaugural growth equity fund at $4.5 billion and various co-investment vehicles and other separate accounts
- Blackstone in its acquisition of AirTrunk at A$24 billion (US$16.1 billion)
- 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
- EQT in connection with the formation and raising of EQT’s flagship private equity fund, EQT VIII, which raised €10.75 billion
- Several private equity sponsors in connection with structured secondary transactions which took the form of asset sales, restructurings and tender offers
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. Steven is also a Certified Public Accountant in New York.