Advanced Tax Strategies in Structuring Private Investment Funds: Balancing Competing Interests

Recording of a 90-minute premium CLE/CPE webinar with Q&A

Conducted on Tuesday, July 30, 2019

Recorded event now available

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Course Materials

This CLE/CPE course will provide tax counsel and advisers with advanced guidance on how to structure private equity and other types of investment funds. The panel will discuss critical considerations in light of new tax law and offer essential planning techniques to avoid tax pitfalls. The panel will also review critical factors, such as type of investor, type of fund and location of fund, and address fund manager and fund investor issues.


In structuring private equity funds, the competing tax preferences of different types of fund investors are critical. The different types include U.S. taxable, U.S. tax-exempt, U.S. government, non-U.S. taxable, non-U.S. pension funds, and non-U.S. sovereign investors. Fund structures can use "blockers" and feeder funds to address these various interests and minimize U.S. taxes.

Our panel will outline structures that are typically used, taking into account the type of U.S.-based fund, such as standard private equity, distressed debt, hedge, and U.S. real property.

Tax counsel must also understand current issues, such as FATCA for non-U.S. investment entities and investors; the impact of tax reform for both fund managers and fund investors; and carried interest rules.

The program will conclude with an overview of typical investment fund documents and tax provisions, such as those addressing effectively-connected income (ECI), and unrelated business taxable income (UBTI). Qualified small business stock and opportunity zone funds will also be discussed.

Listen as our authoritative panel of practitioners provides a high-level analysis of the different and competing tax preferences of fund investors and outlines sophisticated best practices for structuring investment funds to accommodate the myriad interests of these investors.



  1. The impact of tax reform
  2. Tax objectives of taxable U.S. investors
  3. Tax objectives of non-taxable U.S. investors (pension plans, endowments, other tax-exempt investors and governmental entities)
  4. Tax objectives on non-U.S. investors
  5. Tax objectives of sovereign investors
  6. Tax objectives of fund managers
  7. Fund structuring issues and options


The panel will review these and other vital questions:

  • What are the competing tax preferences of major private fund investors that practitioners must juggle when structuring investment funds?
  • How can the use of blockers and feeder funds accommodate the needs of particular investors?
  • What challenges face sovereign investors in retaining their status as Section 892 investors?
  • How do new tax rules impact tax planning when structuring private investment funds?


McBurney, Christian
Christian M. McBurney

Arent Fox

Mr. McBurney advises clients who seek to structure partnership transactions and draft tax provisions of partnership...  |  Read More

Naylor, Jeremy
Jeremy Naylor

Proskauer Rose

Mr. Naylor is a member of the firm’s Private Funds Group. He works with private investment fund sponsors and...  |  Read More

Access Anytime, Anywhere

Strafford will process CLE credit for one person on each recording. CPE credit is not available on recordings. All formats include course handouts.

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