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Caroline Lapidus

Partner

San Francisco

Image of Caroline Lapidus
Caroline Lapidus

Partner

San Francisco

Caroline has extensive experience in domestic and international tax planning and the US federal tax aspects of business transactions involving corporate M&A, capital markets (including securitizations, financial instruments, CLOs and derivatives), cross-border financing, project finance, asset management and real estate including REIT investments.

A significant part of her practice focused on private capital, including advising sponsors on the formation and operation of investment funds and carried interest structuring, and advising investors on their portfolio investments. She advises numerous sovereign wealth funds, pension funds and other institutional investors, on their investments into funds, co-investments, separately managed accounts and joint ventures. She also regularly advises on US federal tax issues relating to tax-exempt organizations.

Caroline is active on matters affecting diversity, equity and inclusion with hands-on experience advising on many of our U.S. initiatives and was a recipient of the A&O US Diversity and Inclusion Champion award in 2021. She regularly advises pro bono clients and is a member of the A&O US Recruiting Committee and US Benefits Committee.

Caroline is recognized by clients for her knowledge and experience, mostly recently in Legal 500 2023 where a client shared that “Caroline Lapidus is very good: very responsive; able to explain complex tax matters in a simple, clear way; very user-friendly.”

Experience highlights

Related articles

Publications: 25 October 2022

Great Fund Insights podcast: US tax matters

US federal tax treatment can be relevant to funds in a variety of contexts and provides a range of risks and benefits depending on the type of investor. 

Read more Great Fund Insights podcast: US tax matters

Publications: 27 May 2020

Covid-19 coronavirus: Implications of current travel restrictions for the tax residency status of companies

Read more Covid-19 coronavirus: Implications of current travel restrictions for the tax residency status of companies

Publications: 06 March 2020

Playing a part in promoting a gender equal world

Read more Playing a part in promoting a gender equal world

Expertise

Practices

Tax

Office

San Francisco

595 Market Street, Suite 950
San Francisco
CA 94105

View office →

Qualifications

Professional

Bar of the State of New York, 2009

Academic

J.D., cum laude, Fordham University Law School

B.A., cum laude, Princeton University

Pro bono

  • Advising numerous US charities on establishing and maintaining US 501(c)(3) tax exempt status.
  • Advising an individual in connection with removal proceedings and obtaining permanent resident status in the US.
  • Leading a team drafting a NYC Bar Vance Center report on women in prison in Africa.

Published work

  • Tax (joint ventures) Q&A: United States, Practical Law, 2021.
  • Examination of the Final Carried Interest Regulations, Hedge Fund Law Report, February 4, 2021.