Steven A.Richman
Partner
Corporate
srichman@seyfarth.com
Steven serves as trusted investment counsel to many of the nation’s and world’s largest institutional investors—including governmental pension plans, sovereign investors, endowments, foundations, and family offices—advising them across asset classes on complex domestic and global investment and disposition transactions.
More About Steven
As Chair of Seyfarth’s Institutional Investor practice, Steven leads a national team focused on representing and providing legal counsel to limited partners as they build and curate their private investments portfolio. Steven has represented clients in billions of dollars of complex domestic and international transactions across private equity (both traditional private equity and real estate-focused opportunities), hedge funds, separate accounts (both discretionary and nondiscretionary), co-investments, joint ventures, and club deals. Steven works with institutional investors across an investment’s life cycle, from acquisition through disposition, with particular experience in LP-led secondaries transactions.
With years of experience advising institutional investors, Steven brings a practical and commercial perspective to every deal. He works closely with in-house legal and investment teams to negotiate market terms, identify off-market risks, and streamline high-volume deal activity. Clients value his ability to benchmark terms across sponsors, manage regulatory and fiduciary concerns, and provide actionable guidance in a fast-moving market.
Steven began his legal career as a tax attorney, and continues to bring that experience to structuring investment vehicles and solving for UBTI, ECI, and other tax sensitivities unique to institutional investors. His combination of investment acumen and tax knowledge makes him a trusted advisor to some of the most sophisticated institutional investors in the country.
With years of experience advising institutional investors, Steven brings a practical and commercial perspective to every deal. He works closely with in-house legal and investment teams to negotiate market terms, identify off-market risks, and streamline high-volume deal activity. Clients value his ability to benchmark terms across sponsors, manage regulatory and fiduciary concerns, and provide actionable guidance in a fast-moving market.
Steven began his legal career as a tax attorney, and continues to bring that experience to structuring investment vehicles and solving for UBTI, ECI, and other tax sensitivities unique to institutional investors. His combination of investment acumen and tax knowledge makes him a trusted advisor to some of the most sophisticated institutional investors in the country.
- LLM, New York University School of Law
Tax - JD, University of Georgia School of Law
Cum laude
- BA, Duke University
- Georgia
Related Services
Related News & Insights
-
Media Mentions
05/08/2025
Steven Richman and Aaron Gillett Featured as Seyfarth’s New Corporate Leaders in Law360 and PLANSPONSOR
-
Firm News
05/07/2025
Seyfarth Elevates Steven Richman to Chair of Institutional Investor Practice and Aaron Gillett to Vice Chair of M&A Practice
-
Sponsored Events
Oct 2, 2024
Seyfarth to Sponsor and Steven Richman to Speak at ILPA LCON
-
Legal Update
Aug 14, 2024
Updated Guidance on NAV-Based Facilities for Private Equity Strategies
- Recognized Attorney, Private Equity Funds, The Legal 500, USA (Legalese Ltd.) (2019-2025)
- Co-Author, “Updated Guidance on NAV-Based Facilities for Private Equity Strategies,” Legal Update, Seyfarth Shaw LLP (August 14, 2024)
- Co-Author, "The SEC’s New Private Fund Adviser Rule Comes Under Early Attack," Legal Update, Seyfarth Shaw LLP (September 6, 2023)
- Co-Author, "An Early Glimpse into the SEC’s Private Funds Advisor Rule," Legal Update, Seyfarth Shaw LLP (August 23, 2023)
- Co-Author, "Certain Senior Living Facilities Can Elect Out of the Business Interest Limitation," ABA Real Property, Trust and Estate Law Section’s eReport (March 8, 2021)
- Co-Author, "Certain Senior Living Facilities Can Elect Out of the Business Interest Limitation," Legal Update, Seyfarth Shaw LLP (February 2, 2021)
- Co-Author, "UBIT May Be In Your Future," One Minute Memo, Seyfarth Shaw LLP (November 3, 2017)
- "Be careful what you ask for in Clinton-Trump tax reforms," The Hill (November 4, 2016)
- Co-Author, "One Step Back, One Step Forward: New Debt-Equity Regulations Narrow Their Focus on Earnings Stripping," Client Alert, Seyfarth Shaw LLP (November, 3, 2016)
- Co-Author, "There is life after death...of the Bottom-Dollar Guarantee," Client Alert, Seyfarth Shaw LLP (October 14, 2016)
- Co-Author, "Earn-Outs in Cross Border Acquisitions: Managing Code Sec. 956 Exposure," International Tax Journal (April 2016)
- "The Sweeping Effect of the Windsor Decision," Trust the Leaders (Winter 2013)
- Co-Author, "What Else Can We Do With the Corporate Jet," Trust the Leaders (Spring 2009)
- Moderator, "The Negotiation Table – Playing by LP Rules," PEI Nexus (March 2025)
- Panelist, "Shifting Organization Expense Obligations," ILPA's Fall Legal Conference, Arlington, VA (October 2, 2024)
- Speaker, "ILPA Legal Town Hall: The Effect of Organizational Expense Allocation," Institutional Limited Partners Association (July 9, 2024)
- Speaker, "How Is Your LP Makeup Impacting Your Investment Strategy? Aligning LP/GP Interests," IMN's US Real Estate Opportunity & Private Fund Investing Forum, Newport, RI (June 21-23, 2023)
-
Presenter, "Understanding the NVCA Model Forms," Webinar (March 29, 2023)
- Speaker, "Opportunities and Challenges in Today’s Investment Environment - Where Legal Teams Can Make a Difference," ILPA’s Private Equity Legal Conference (October 2022)
- Speaker, 8th Annual Southeast Institutional Forum, Atlanta, GA (October 20, 2021)
- Speaker, "Expecting the Expected – Planning for GP Restructurings," ILPA’s Private Equity Legal Conference (October 13-14, 2021)
- Presenter, "The Primaries of Secondaries: A Market Update on Secondary Transactions in a Post-COVID Environment," Webinar, Seyfarth Shaw LLP (May 19, 2021)
-
Co-Presenter, "Facts and Fictions Surrounding GP Promoted Tax Provisions" (July, 2020)
- Co-Presenter, "Closing the Loop on Open-Ended Funds" (April, 2020)
- "Selected Trends in LPA Documentation" (December 17, 2019)
- Presenter, "Business Law: Making the Right Choice of Entity Decision to Position Your Business for Success," CLE, Atlanta Bar Association, Atlanta, GA (November 5, 2019)
- Co-Presenter, "Leveling The Playing Field for Limited Partners," Webinar (April 11, 2019)
- Panelist, "Spotlight on GP Led Secondaries," Institutional Limited Partner Association (“ILPA”) (March 2019)
- Co-Presenter, "The Primaries of Secondaries: Understanding Secondary Transactions in Private Equity Funds," Webinar, Seyfarth Shaw LLP (September 13, 2018)
- "Entity-Level Tax For Partnerships—Since When? Since Now!," Seyfarth Shaw LLP, Atlanta, GA (December 6, 2017)
- "But You Said You’re a Lawyer?! Topics Every Lawyer Should Know (a little) About: Remember to Aim Before You Fire: The Importance of Building the Legal Base for Your (or your Client’s) Business," State Bar of Georgia (October 2017)
- "Federal Income Tax Issues in Real Estate Transactions" (July 2017)
- "The Fundamentals of Fund Formation," Seyfarth Shaw, LLP (February 2017)
- "But You Said You’re a Lawyer?! Topics Every Lawyer Should Know (a little) About: Remember to Aim Before You Fire: The Importance of Building the Legal Base for Your (or your Client’s) Business," State Bar of Georgia (December 2016)
- "Understanding the new Tax Rules that Will Change Every LLC and Partnership," Webinar (July 2014)
- "Specialize to Succeed: Navigating the IRS Regulations of Business Taxation," State Bar of Georgia, Atlanta, GA (September 2014)
- Quoted, "LP Concerns and Common Misconceptions About the Rise of “Synthetic” Distributions (Part One of Two)," Private Equity Law Report (July 11, 2024)
Steven serves as trusted investment counsel to many of the nation’s and world’s largest institutional investors—including governmental pension plans, sovereign investors, endowments, foundations, and family offices—advising them across asset classes on complex domestic and global investment and disposition transactions.
More About Steven
As Chair of Seyfarth’s Institutional Investor practice, Steven leads a national team focused on representing and providing legal counsel to limited partners as they build and curate their private investments portfolio. Steven has represented clients in billions of dollars of complex domestic and international transactions across private equity (both traditional private equity and real estate-focused opportunities), hedge funds, separate accounts (both discretionary and nondiscretionary), co-investments, joint ventures, and club deals. Steven works with institutional investors across an investment’s life cycle, from acquisition through disposition, with particular experience in LP-led secondaries transactions.
With years of experience advising institutional investors, Steven brings a practical and commercial perspective to every deal. He works closely with in-house legal and investment teams to negotiate market terms, identify off-market risks, and streamline high-volume deal activity. Clients value his ability to benchmark terms across sponsors, manage regulatory and fiduciary concerns, and provide actionable guidance in a fast-moving market.
Steven began his legal career as a tax attorney, and continues to bring that experience to structuring investment vehicles and solving for UBTI, ECI, and other tax sensitivities unique to institutional investors. His combination of investment acumen and tax knowledge makes him a trusted advisor to some of the most sophisticated institutional investors in the country.
With years of experience advising institutional investors, Steven brings a practical and commercial perspective to every deal. He works closely with in-house legal and investment teams to negotiate market terms, identify off-market risks, and streamline high-volume deal activity. Clients value his ability to benchmark terms across sponsors, manage regulatory and fiduciary concerns, and provide actionable guidance in a fast-moving market.
Steven began his legal career as a tax attorney, and continues to bring that experience to structuring investment vehicles and solving for UBTI, ECI, and other tax sensitivities unique to institutional investors. His combination of investment acumen and tax knowledge makes him a trusted advisor to some of the most sophisticated institutional investors in the country.
- LLM, New York University School of Law
Tax - JD, University of Georgia School of Law
Cum laude
- BA, Duke University
- Georgia
Related Services
Related News & Insights
-
Media Mentions
05/08/2025
Steven Richman and Aaron Gillett Featured as Seyfarth’s New Corporate Leaders in Law360 and PLANSPONSOR
-
Firm News
05/07/2025
Seyfarth Elevates Steven Richman to Chair of Institutional Investor Practice and Aaron Gillett to Vice Chair of M&A Practice
-
Sponsored Events
Oct 2, 2024
Seyfarth to Sponsor and Steven Richman to Speak at ILPA LCON
-
Legal Update
Aug 14, 2024
Updated Guidance on NAV-Based Facilities for Private Equity Strategies
- Recognized Attorney, Private Equity Funds, The Legal 500, USA (Legalese Ltd.) (2019-2025)
- Co-Author, “Updated Guidance on NAV-Based Facilities for Private Equity Strategies,” Legal Update, Seyfarth Shaw LLP (August 14, 2024)
- Co-Author, "The SEC’s New Private Fund Adviser Rule Comes Under Early Attack," Legal Update, Seyfarth Shaw LLP (September 6, 2023)
- Co-Author, "An Early Glimpse into the SEC’s Private Funds Advisor Rule," Legal Update, Seyfarth Shaw LLP (August 23, 2023)
- Co-Author, "Certain Senior Living Facilities Can Elect Out of the Business Interest Limitation," ABA Real Property, Trust and Estate Law Section’s eReport (March 8, 2021)
- Co-Author, "Certain Senior Living Facilities Can Elect Out of the Business Interest Limitation," Legal Update, Seyfarth Shaw LLP (February 2, 2021)
- Co-Author, "UBIT May Be In Your Future," One Minute Memo, Seyfarth Shaw LLP (November 3, 2017)
- "Be careful what you ask for in Clinton-Trump tax reforms," The Hill (November 4, 2016)
- Co-Author, "One Step Back, One Step Forward: New Debt-Equity Regulations Narrow Their Focus on Earnings Stripping," Client Alert, Seyfarth Shaw LLP (November, 3, 2016)
- Co-Author, "There is life after death...of the Bottom-Dollar Guarantee," Client Alert, Seyfarth Shaw LLP (October 14, 2016)
- Co-Author, "Earn-Outs in Cross Border Acquisitions: Managing Code Sec. 956 Exposure," International Tax Journal (April 2016)
- "The Sweeping Effect of the Windsor Decision," Trust the Leaders (Winter 2013)
- Co-Author, "What Else Can We Do With the Corporate Jet," Trust the Leaders (Spring 2009)
- Moderator, "The Negotiation Table – Playing by LP Rules," PEI Nexus (March 2025)
- Panelist, "Shifting Organization Expense Obligations," ILPA's Fall Legal Conference, Arlington, VA (October 2, 2024)
- Speaker, "ILPA Legal Town Hall: The Effect of Organizational Expense Allocation," Institutional Limited Partners Association (July 9, 2024)
- Speaker, "How Is Your LP Makeup Impacting Your Investment Strategy? Aligning LP/GP Interests," IMN's US Real Estate Opportunity & Private Fund Investing Forum, Newport, RI (June 21-23, 2023)
-
Presenter, "Understanding the NVCA Model Forms," Webinar (March 29, 2023)
- Speaker, "Opportunities and Challenges in Today’s Investment Environment - Where Legal Teams Can Make a Difference," ILPA’s Private Equity Legal Conference (October 2022)
- Speaker, 8th Annual Southeast Institutional Forum, Atlanta, GA (October 20, 2021)
- Speaker, "Expecting the Expected – Planning for GP Restructurings," ILPA’s Private Equity Legal Conference (October 13-14, 2021)
- Presenter, "The Primaries of Secondaries: A Market Update on Secondary Transactions in a Post-COVID Environment," Webinar, Seyfarth Shaw LLP (May 19, 2021)
-
Co-Presenter, "Facts and Fictions Surrounding GP Promoted Tax Provisions" (July, 2020)
- Co-Presenter, "Closing the Loop on Open-Ended Funds" (April, 2020)
- "Selected Trends in LPA Documentation" (December 17, 2019)
- Presenter, "Business Law: Making the Right Choice of Entity Decision to Position Your Business for Success," CLE, Atlanta Bar Association, Atlanta, GA (November 5, 2019)
- Co-Presenter, "Leveling The Playing Field for Limited Partners," Webinar (April 11, 2019)
- Panelist, "Spotlight on GP Led Secondaries," Institutional Limited Partner Association (“ILPA”) (March 2019)
- Co-Presenter, "The Primaries of Secondaries: Understanding Secondary Transactions in Private Equity Funds," Webinar, Seyfarth Shaw LLP (September 13, 2018)
- "Entity-Level Tax For Partnerships—Since When? Since Now!," Seyfarth Shaw LLP, Atlanta, GA (December 6, 2017)
- "But You Said You’re a Lawyer?! Topics Every Lawyer Should Know (a little) About: Remember to Aim Before You Fire: The Importance of Building the Legal Base for Your (or your Client’s) Business," State Bar of Georgia (October 2017)
- "Federal Income Tax Issues in Real Estate Transactions" (July 2017)
- "The Fundamentals of Fund Formation," Seyfarth Shaw, LLP (February 2017)
- "But You Said You’re a Lawyer?! Topics Every Lawyer Should Know (a little) About: Remember to Aim Before You Fire: The Importance of Building the Legal Base for Your (or your Client’s) Business," State Bar of Georgia (December 2016)
- "Understanding the new Tax Rules that Will Change Every LLC and Partnership," Webinar (July 2014)
- "Specialize to Succeed: Navigating the IRS Regulations of Business Taxation," State Bar of Georgia, Atlanta, GA (September 2014)
- Quoted, "LP Concerns and Common Misconceptions About the Rise of “Synthetic” Distributions (Part One of Two)," Private Equity Law Report (July 11, 2024)