Hamilton Lane, a private markets investment company with more than $315 billion in total assets under management and supervision, has hired Lydia Gavalis as deputy general counsel. The appointment comes in preparation for the retirement of existing general counsel, Robert Cleveland, who will retire from the firm in early 2017 after 16 years of service.

In the interim period before his retirement, Cleveland will work closely with Gavalis to ensure a seamless transition. Upon assuming her new role as general counsel early next year, Gavalis will have responsibility for all legal affairs globally.

As part of this transition, Fred Shaw, formerly director of compliance, will assume the role of chief compliance officer, reporting to Gavalis.

Gavalis joins Hamilton Lane from SEI, where she served for more than 18 years, including for the last 10 years as General Counsel of the company’s Institutional Investors business segment. She also served as general counsel for both SEI Private Trust Company and SEI Trust Company; head of SEI’s Corporate Services legal team; and general counsel of London-based SEI Investments (Europe) Limited.