Proskauer Rose LLP

Tax; Private Funds

Catherine Sear is a partner in Proskauer's Tax Department and a member of the Private Funds Group. She specializes in the tax aspects of structuring and investing in private investment funds including private equity, venture capital, infrastructure, debt and real estate funds, funds of funds, secondary funds and other investment partnerships.

She advises sponsors and investors on a wide variety of UK and international tax issues related to private investment funds and their operations, including tax aspects of:

• structuring and raising private investment funds

• structuring carried interest and executive coinvestment arrangements

• restructuring existing private investment funds

• establishment and operation of fund management businesses

• investments by institutional investors in private funds

• separate accounts for institutional investors, acting for both fund managers and investors

• secondary transactions, both buy-side and sell-side

• coinvestment structures

Catherine advises on a broad range of UK tax issues including VAT, employment tax, capital gains tax in relation to partnerships, withholding taxes and tax rules relating to carried interest. She also has considerable knowledge of international tax issues arising for investment structures with a cross-border dimension and experience with multijurisdictional fund management teams.