Investment Counsel

Investment Counsel

Requisition : req
1330
Employment Type: Unclassified Regular Full-Time (URF)
Division: Legal & Compliance
Compensation: Depends on Qualification
Job Closing: 1/31/2026
Location: TRS Headquarters Building 2
1900 Aldrich Street
Austin, Texas, 78723
United States

WHO WE ARE:
Service, Respect, and Connection are core to the TRS experience. TRS supports retirement security for public education employees and retirees in Texas. We administer pensions and healthcare benefits and aim to provide personal and career growth for our team.

Teacher Retirement System of Texas (TRS) manages retirement and healthcare plans for over 2 million public education professionals. This growth means expanding talented teams dedicated to keeping the Trust financially healthy for a long time to come.

The Investment Counsel is responsible for providing complex counsel and related services regarding investment transactions and related matters, preparing and negotiating investment transaction documents; providing general legal counsel and representation to executive management; and providing research and other legal support. This position will proactively work with the Investment Management Division, the TRS legal team, Executive staff, members of TRS executive and leadership teams, and external stakeholders.

This position reports to the Director, L&C Investment.

• Investment Counsel
• Provides legal advice to and represents the agency regarding:
• Negotiation of investment management agreements with external managers and related matters;
• Investments in hedge funds, private equity funds, real asset funds, energy and natural resources funds, related co-investment or principal investment funds, and derivatives transactions;
• Investment operations, non-disclosure agreements, foreign investment documentation, investment policies, litigation analysis, and other duties as assigned; and
• The application of fiduciary duties to investment matters, policies, procedures, and operations.
• Participates in the selection and oversight of outside investment counsel, including coordinating workflow, evaluating work product, reviewing invoices, and negotiating fee reductions.
• Prepares, reviews, and negotiates research and other investment-related arrangements including those involving commission credits or custody of pension assets, and advises investment staff and agency management about such arrangements.
• Investment Contracts and Documents
• Prepares or reviews requests for proposal or qualifications, and drafts and negotiates contracts with vendors (e.g., custody agreements), investment consultants, external discretionary investment managers, outside legal counsel, clearinghouses, and prime brokers.
• Reviews offering memoranda, subscription documents, and proposed contracts relating to private investments; provides legal advice and services, including drafting and negotiating transaction documents, as assigned; and supervises execution of documents according to agency policies and procedures.
• Prepares memoranda, contracts, policies, guidelines, procedures, letters, bills, or analysis for legislative consideration, or other materials as assigned.
• General Legal Counsel and Representation
• Attends as needed meetings of the agency Board of Trustees, Board Committees, and internal investment committees; and assists with preparation of meeting materials, such as proposed resolutions, meeting minutes, and related materials.
• Assists senior attorneys and management in meetings and negotiations with other attorneys and external parties, including executive and legislative branches of Texas state government, auditors, investment consultants, and vendors.
• Research and Support
• Provides advice and assistance regarding all applicable existing or proposed federal, state, and agency laws, rules, and policies.
• Conducts legal research and analysis with respect to assigned or referred matters.
• Assists with preparing audit inquiry responses on behalf of the agency, as assigned.
• Coordinates and reviews the related work of legal assistants, specialists, and support staff with regard to specific areas of responsibility.
• Participates in special projects, as assigned…