Michael Graham

Michael's recent experience includes advising:

Funds - Tax

• Claret Capital Partners on the fund formation, management fee and UK carry structuring of a direct lending Fund established in Luxembourg. Project value of plus EUR300 million. Project completion June 2020.
• Large international sponsor on the fund formation, management fee and UK carry structuring of a VC Fund established in Luxembourg. Project value of plus EUR100 million. Project completion early 2022.
• Investor groups following the collapse of Abraaj Private Equity. Project completion October 2019.
• Advised TPG on fund formation of its global Real Estate Fund, the acquisition of Arlington Properties and a Portuguese real estate acquisition, and a MIP for management. Project value of plus USD3.7 billion. Project completion March 2019.
• Rhone Capital on its strategic partnership with Eurazeo. Project value of USD100 million in cash and 2 million newly issued shares of Eurazeo. Project completion April 2018.
• Carlyle on fund formation of its pan-European Real Estate fund, and global Energy fund, including carried interest planning with respect to Carlyle’s UK and European management team. Project completion 2018.
• Orion on a number of UK real estate acquisitions, a refinancing, and a restructuring to account for offshore fund rules planning.
• British Land on setting up a JV REIT for in partnership with GIC, over the Broadgate Estate. Project completion December 2013.

Transactional & Restructuring - Tax

• NEQSOL on the acquisition of Vodafone Ukraine, and on the acquisition financing from a group of international funds and financial institutions led by J.P. Morgan Securities Plc and Raiffeisen Bank International A.G. Project value USD734 million. Project completion December 2019.
• Aareal on the financing of the pan-European K+K Hotel portfolio. Project value EUR164 million. Project completion November 2019. Also advised on the financing of a second pan-European hotel group. Project value EUR287 million. Project completion June 2020.
• Jaja Finance Limited (leading digital finance company) on the acquisition of Bank of Ireland’s UK credit card portfolio. Project value GBP530 million. Project completion July 2019.
• UK headquartered tech-group on a group reorganisation, in light of the substance rules in the BVI. Project completion March 2020.
• Wyndham Worldwide on the sale of European Vacation Rentals Business to Platinum Equity. Project value of c.USD1.3 billion. Project completion February 2018.

*Denotes experience from previous firm

• 'How the funds industry managed to dodge a bullet in the Budget'
• Contributor, "Carried Interest - a multi-jurisdictional guide," DLA Piper, October 2023
• "Financial Services in Focus: Carried interest: Key employment considerations", DLA Piper, July 2024