Olivier Léger advises PE fund sponsors on U.S. tax matters at all stages of their operations, with a dual focus on fund formation and portfolio company acquisitions and divestitures.
On the fund formation front, Olivier’s contribution to VC funds, buyout funds, funds-of-funds, and other PE fund clients begins with providing structuring advice to minimize the tax burden to the various fund constituents. In implementing the desired structure, and negotiating and drafting fund documents, Olivier provides clear and commercial solutions that allow maximum flexibility to execute on deal opportunities and facilitate the day-to-day operation and administration of the fund vehicles. Olivier also advises fund sponsors with respect to GP matters, secondary transfers, bridge financings, as well as isolated transactions such as GP sponsored secondaries (fund recaps) and the sale of management company interests. Separately, Olivier regularly represents funds-of-funds in connection with their primary and secondary investments in other funds.
On the transactional front, Olivier advises PE fund sponsors on structuring leveraged buyouts and other M&A transactions in a tax-efficient manner, and planning for post-closing operation of the businesses so as to maximize available tax savings. Olivier also regularly advises closely held corporations and their individual shareholders with respect to various U.S. tax matters, including QSBS. In addition, Olivier advises public and privately owned companies with respect to taxable and tax-free mergers and acquisitions, joint ventures, credit facility arrangements, and post-transactional integration, as well as inbound and outbound transactions.
Olivier was recognized by The Legal 500 as “a name to note in the funds space.” Olivier’s clients include TrueBridge Capital, XPV Water Partners, Century Partners, Amplify Partners, SKK Group, Battery Global Advisors, Long Ridge Equity Partners, I-Qu, Horsley Bridge Partners, Riverside Partners, Great Hill Partners, QuestMarkPartners, Right Networks, Sverica Capital Management, Tribeca Holdings, Candescent Partners, and Marcy Venture Partners, LLC.
- The Legal 500
- Private investment fund sponsors in connection with their fund formation and fund raising activities, with capital commitments ranging from $100 million to $3.5 billion.
- Sophisticated companies and PE funds in major acquisitions in the middle-market space (generally companies with a market cap of $100 to $400 million, although several were in the $1 billion range). These acquisitions have involved a range of commercial sectors, including medical devices, pharmaceuticals, biologics, food, finance, technology, media, gaming, mobile applications, insurance, manufacturing, chemicals, fashion, and jewelry.
- Johnson & Johnson in several major acquisitions, including an acquisition for $3.3 billion cash.
Professional and Community Involvement
- Member of the New York State Bar Association, Tax Section
- Member of the American Bar Association
- Member of the Boston Bar Association
Education & Credentials
- University of Toronto Faculty of Law
- LLM, 2007
- Université de Moncton
- LLB, 2004, Gold Medalist
Choate represented TrueBridge Capital Partners as it raised $170M for its Seed and Micro-VC Fund I, its first venture capital fund-of-funds focused solely on seed and micro-VC firms.
Choate represented Long Ridge Equity Partners in its $100M minority growth investment in AuthenticID.
Choate represented Great Hill Partners in its $250M cross-border growth investment in Ontario-based Auvik Networks, an award-winning provider of cloud-based network management software.
The Legal 500 2021 recognized 31 Choate attorneys in their respective fields and 11 practice areas, with education and middle-market M&A receiving Tier 1 rankings.
Choate represented Riverside Partners in the closing of a new $532M Continuation Fund, led by funds advised by Neuberger Berman, a private, independent, employee-owned investment manager.
On April 30, 2020, the Internal Revenue Service issued guidance in Notice 2020-32 providing that no deduction is allowed under the Internal Revenue Code for an expense that is otherwise deductible if the payment of the expense results in forgiveness of a loan under the Payroll Protection Program established by the Coronavirus Aid, Relief and Economic Security Act.