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.
Steve was the Executive Director of the Canadian Coalition for Good Governance from 2011 to June 2018. CCGG’s members consist of pension funds and other institutional investors across Canada which collectively have approximately $4 trillion of assets under management. As CCGG’s longest serving Executive Director, Steve developed and implemented CCGG’s strategy, was in charge of board and member relationships, was CCGG’s public spokesperson, led over 85 private engagement meetings between CCGG and directors of public companies across Canada, and advanced CCGG’s international outreach. 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" (PDF), 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".