Cadwalader, Wickersham & Taft LLP has substantial experience designing tax-efficient restructurings and reorganizations involving troubled and insolvent corporations and other entities, with a particular focus on preserving net operating losses and other tax attributes, both in and out of bankruptcy. The practice is led from New York by Linda Swartz, who frequently advises on complex global mergers and acquisitions, spin-offs, joint ventures, and restructurings, and on the development of foreign tax planning strategies. In Washington DC, Mark Howe focuses on partnerships, financial products, securitization, the tax aspects of capital markets, and general corporate finance. New York-based Jon Brose advises on tax issues relating to CLOs and other structured finance and securitization vehicles. Also in New York, William Walsh was seen alongside Swartz advising AlTi Tiedemann Global on a $450 million growth capital investment from Allianz X and Constellation Wealth Capital to support the company’s expansion and M&A strategy.

A steady flow of high-end instructions sees Cleary Gottlieb Steen & Hamilton advising on tax issues linked to mergers and acquisitions, fund structuring and fundraising, cryptocurrencies, AI-driven investments, and complex financial products. The team is also well versed in renewable energy tax credits introduced under the Inflation Reduction Act, alongside work for foreign sovereigns and audit-related mandates. Leadership of the practice sits in New York with Meyer Fedida, whose experience spans the tax aspects of major, multi-jurisdictional M&A transactions and prominent fund formation work. Fellow New York partner William McRae brings a wide-ranging skill set, advising sovereign wealth funds, tackling intricate bankruptcy-related tax questions, and supporting transactions involving sophisticated financial products. Bay Area partner Maureen Linch recently acted as lead partner for Synopsys on its $35bn acquisition of Ansys, including the accompanying $16bn financing and related business divestitures.

Paul Seraganian leads Clifford Chance’s New York-based tax practice. The team is well-versed in REIT transactions, IPOs, securitization, and structured finance matters. Jim Gouwar focuses on the tax aspects of structured finance transactions, including mortgage and asset-backed deals, collateralized loan and debt obligations, and real estate mortgage investment conduits. In contrast, Philip Wagman advises on the tax considerations of domestic and cross-border mergers, acquisitions, joint ventures, and leveraged buyouts. Rebecca Pereira is another key member of the team, bringing extensive experience providing tax and structuring advice across a broad range of domestic and international financial and business transactions, with a particular emphasis on private equity and real estate funds. Daniel Drabkin is noted for advising Cathay on a GP-led secondary transaction involving the disposition of three multi-jurisdictional portfolio companies to a newly formed continuation fund for a purchase price of $26 million.

Davis Polk & Wardwell LLP fields a New York-based tax team with broad experience across high-value transactional and advisory matters. The practice is led by Lucy Farr, whose work spans private and public acquisitions, internal restructurings, spin-offs, and joint ventures, alongside a strong focus on structuring sophisticated public and private financial products to support capital raising and hedging. Michael Farber advises investment banks, financial institutions, and other clients on the tax aspects of financial instruments, derivatives, and capital markets activity. Corey Goodman is regularly engaged by creditors in complex restructuring scenarios and advises private capital providers on direct lending and asset-based finance. Aliza Slansky is a key contact for tax advice on derivatives, M&A, initial public offerings, and other capital markets transactions. Patrick Sigmon and Ethan Goldman round out the team, advising on federal income tax issues across a wide range of US and cross-border transactions, including acquisitions, joint ventures, financings, partnership investments, and restructurings.

DLA Piper LLP (US) advises on a broad range of structured finance and REIT-related tax matters, including securitizations, credit REIT formation and structuring, CMBS and REMIC issuances, and NAV REIT offerings and transitions. The New York-based practice is led by Gerald Rokoff, who brings significant experience advising asset managers, underwriters, and investors on asset-backed securitization transactions, as well as counseling asset advisory firms and investors on US inbound investments across multiple asset classes, including direct credit strategies and CLOs. Also in New York, Shiukay Hung is frequently engaged as special REIT tax counsel on complex, high-value transactions. In Boston, John Wei regularly represents banks, asset managers, and issuers on the structuring of collateralized loan obligations, real estate mortgage investment conduits, and other asset-backed securitizations, alongside a broader range of structured finance matters. Austin-based partner Witold Jurewicz focuses on tax-efficient structures for non-US operations and investments, with additional experience in tax treaty planning and US and international tax reporting and compliance.

Sidley Austin LLP advises on the tax considerations associated with a broad range of complex and innovative financial products, including CLOs, securitized offerings, linked notes, and other structured instruments. The practice is co-led by Bridget O’Neill in Chicago and Robert Kreitman in New York, with Kreitman regularly counseling clients on structured finance securitizations, financial products, and credit derivatives. Also in New York, Nicholas Brown has represented both issuers and underwriters on the offer and issuance of billions of dollars’ worth of structured financial instruments. Within the Chicago team, Richard Silverman focuses on tax issues arising in structured finance and securitization transactions, alongside bankruptcy and restructuring-related matters. Another key New York-based partner, Noam Waltuch, advises clients on the structuring and formation of alternative investment funds, including private equity, credit, secondary, real estate, hedge, venture capital, and insurance-linked securities funds.

A&O Shearman advises investment banks and other financial institutions in the US and internationally on the development of tax-efficient structures for financings, hybrid securities, acquisitions, dispositions, joint ventures, and other investment activity. The practice is co-led by Jack Heinberg in New York, whose work centers on domestic and international tax planning, the taxation of financial instruments, cross-border financings, CLOs, securitizations, and other structured finance matters, alongside Larry Crouch, who splits his time between New York and Silicon Valley. New York-based Lorenz Haselberger is a key member of the team and regularly advises major financial institutions, sovereign investors, and family offices on complex transactions and related tax advisory work, including the pursuit and receipt of private letter rulings and revenue rulings from the IRS to support clients’ commercial objectives.

Advising on a range of complex financing arrangements, Dentons’ tax practice is well versed in insurance-linked securities, prepaid forward contracts, and other sophisticated structures. The team also brings experience across a broad mix of domestic and offshore capital markets vehicles, including investment funds and real estate investment trusts. The practice is led from New York by Marshall Feiring and Ryan Zucchetto. Feiring’s work centers on the formation and ongoing operation of complex investment vehicles such as REMICs, RICs and REITs. Whereas Zucchetto regularly acts as tax counsel to issuers and underwriters on residential mortgage-backed securities transactions involving both performing and non-performing loans.

The US tax practice at McDermott Will & Schulte is frequently engaged on matters involving cryptocurrency restructurings, tokenization initiatives, hybrid investment products, and securities-related work. The group is co-led by Timothy Shuman in Washington DC and John Lutz in New York. Lutz advises on the tax aspects of investment funds, structured finance, derivatives and structured products, insurance-linked offerings, investment tax credits, and both domestic and cross-border securities transactions. Also in New York, David Wermuth regularly counsels leading asset managers and institutional investors on innovative cross-border platforms and complex fund formation structures. Another key New York-based partner, Philippe Benedict, is noted for advising MGG Investment Group on Generali’s acquisition of a 77% stake, providing tax structuring advice for a major private credit platform with more than $6 billion in assets under management.

Skadden, Arps, Slate, Meagher & Flom LLP

Weil, Gotshal & Manges LLP’s tax practice, led by Paul Wessel, advises on sophisticated mergers and acquisitions, securitizations, restructurings, REIT-related work, and capital markets matters. New York-based Greg Featherman counsels clients on cross-border M&A, spin-offs and other divisive transactions, internal restructurings, bankruptcy and non-bankruptcy workouts, and the utilization of net operating losses, foreign tax credits, and other tax attributes, as well as consolidated return issues. In Silicon Valley, Jason Vollbracht was seen advising Coatue Management, LLC on the tax aspects of its equity financing in support of Silver Lake Partners’ $25 billion take-private of Endeavor Group Holdings, Inc., a global entertainment company focused on content, marketing, licensing representation, and event management.