Phoebe Kennan, a second-year trainee, describes a day in the life of a trainee in the London Investment Management team
9:15 am In the Investment Management team, keeping up with the dynamic pace of our clients’ global transactions is key. I arrive at my desk, review the emails I received overnight from clients and counterparties’ counsel, and update my to-do list accordingly.
9:30 am A partner stops by the office I share with my supervisor. We discuss the status of several investments into private equity funds we are progressing for a client, a global financial institution. The partner asks me to prepare final versions of the subscription agreements and side letter required for one of the investments.
11:00 am Once I have updated the subscription agreements and side letter to include the final details for each of the client’s investing entities, I send the execution versions and draft covering email to my supervisor for review.
11:15 am I receive an email from the Tax team. I have been assisting with drafting a services contract for a global private markets investment firm. I thank the team for their comments on the draft and turn to implementing their changes.
11:45 am Satisfied with the changes, I send the new version of the services contract to the relevant partner for review.
12:30 pm Returning to the private equity fund investment I had worked on earlier, my supervisor asks me to send the subscription agreements and side letter to the client. I send the final versions, together with a summary of the transaction details, for client sign-off before meeting with a fellow trainee for lunch.
1:30 pm I attend the Investment Management weekly team meeting, during which the team discusses recent instructions and closings.
2:00 pm With a closing approaching closing for another fund manager client, the team has received draft application packs from prospective investors.I review one application pack and send my draft comments to my supervisor.
3:00 pm The client confirms sign-off on the execution version subscription agreements and side letter sent earlier, so my supervisor instructs me to collect signatures. The client’s commercial team is eager for signed documents to be sent to fund counsel as soon as possible so that the investment can go ahead this week.
4:30 pm After pulling together the signature pages for each subscription agreement and side letter, I circulate them via DocuSign to client’s authorised signatories and provide the client with an update.
4:45 pm I meet with an associate who I am working with on a pro bono matter. We are preparing for an interview scheduled later this week with an individual whose domestic violence case was referred to Morgan Lewis. We discuss the case materials and plan the interview structure.
5:30 pm My supervisor and I catch up about the matters we are working on together. They mention we have been instructed by an existing venture capital fund client in relation to a new fund. They explain the form and purpose of the documents required to form the fund, which I will draft later this week.
6:30 pm I receive a notification from DocuSign confirming that all the client’s signatures have been received. I compile the client’s signatures into the execution version documents and carry out a final check, including reviewing key details such as entity names and commitment amounts, to ensure that the documents are ready to be shared with the fund in which the client will be investing.
7:30 pm After discussing next steps with my supervisor, I send the signed documents to fund counsel and provide an update to the client. I then update my to-do list for tomorrow and log off for the day.
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