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Stephen  Erlichman

Stephen Erlichman

Partner Fasken
Global Proxy Watch named Steve one of the “10 people around the world who have had the most impact on corporate governance” in 2016.
Jurisdiction Ontario, 1982 | New York, 1979
Language(s) English
Office(s) Toronto

Stephen Erlichman has practiced corporate and securities law throughout his career at major law firms in New York and Toronto. Steve has been counsel to senior management, boards of directors and major shareholders of public and private corporations, and has advised investment dealers, commercial banks, insurance companies, private equity firms and managers of mutual funds, pension funds and hedge funds

In his transaction based practice, Steve advises on public and private acquisitions, including private equity investments, as well as reorganizations, public offerings, private placements and structuring innovative financial products. He also advises directors and management of corporations, pension funds and investment funds on governance and compliance issues as part of his corporate legal practice. As one of the very few practicing lawyers in Canada with both corporate governance and investment fund governance expertise, Steve is able to provide clients unique and specialized advice on governance matters.

In October 2011, Steve became the Executive Director of the Canadian Coalition for Good Governance. CCGG’s members consist of pension funds and other institutional investors across Canada which collectively have over $3 trillion of assets under management. As Executive Director, Steve develops and implements CCGG’s strategy, is in charge of board and member relationships and is CCGG’s public spokesperson. Steve is at the forefront of the major corporate governance issues in Canada and the world, and has the pulse of the institutional investor community, as a result of his role at CCGG.


Representative mandates led by Steve include:

  • Acted for numerous U.S. private equity groups as well as strategic buyers to acquire companies in Canada

  • Acted for the Government of Canada in creating the Canada Investment Fund for Africa, a $200 million private equity fund which invests in Africa

  • Acted for Middlefield Group in the design, creation, initial public offering and listing on the Toronto Stock Exchange of numerous closed-end investment funds which raised over $4 billion.

Steve has spoken and written widely and his articles and op ed pieces have been published by leading media outlets. The press have called Steve’s writings “insightful” and “prescient”. Steve’s report "Making it Mutual: Aligning the Interests of Investors and Managers--Recommendations for a Mutual Fund Governance Regime for Canada", which was commissioned by the Canadian Securities Administrators, was referred to by the press as a "landmark report on fund governance" and utilized by the Canadian Securities Administrators in establishing a an investment fund governance regime for Canada.

Steve has been interviewed by television, radio and newspaper reporters on many topics. Steve has been referred to as “a leading governance expert,” a “governance guru” and one of “Canada’s top M&A attorneys” and his expertise has been recognized in numerous publications. 

Rankings and Awards

Steve has been named one of the leading lawyers in Canada by Lexpert and has received Martindale-Hubbell's highest rating (AV) for many years. Steve also has been named for many years in Best Lawyers in Canada, the Practical Law Company's Cross-Border Private Equity Handbook, the Practical Law Company's Cross-Border Investment Funds Handbook, Who's Who in Canadian Business, Canadian Who's Who and IFLR1000.


The press have called Steve a "rainmaker" and one of Fasken Martineau's "franchise players".



  • LLB University of Toronto
  • LLM New York University
  • MBA Harvard University

Memberships & Affiliations

  • Director and former President, Harvard Business School Club of Toronto
  • Inaugural Co-Chair and current member, International Corporate Governance Network's Global Network of Investor Associations
  • Member, International Corporate Governance Network's Shareholder Rights Committee
  • Member, American Bar Association, New York State Bar Association, Canadian Bar Association and Ontario Bar Association
  • Former member, Advisory Committee to the Ontario Securities Commission on Investment Funds Governance
  • Former member, Investment Funds Institute of Canada - Regulatory Steering Committee, Sales Communications Steering Committee and Blue Ribbon Panel
  • Member, 30% Club Canada


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