Caroline Lapidus
Partner
San Francisco
Caroline Lapidus
Partner
San Francisco
Contact details
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.”
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
Experience highlights
Advising numerous sovereign wealth funds, pension funds and family offices on their global investments, including in private equity, hedge, real estate, credit, infrastructure and energy funds as well as separately managed accounts and joint ventures.
Advising several asset managers and institutional investors on tax structuring and treaty analysis for a private credit platforms and fund structures.
Advising a global asset manager on US tax issues relating to asset backed and residential mortgage backed securitizations.
Advising a US based asset manager on tax structuring for their management business, private equity funds and carried interest structuring.
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.
Publications: 27 May 2020
Publications: 06 March 2020
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.
