Expertise advising fund managers with the tax structure of their funds under management
Sydney
@alvarezmarsal
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Andrew Sharp is a Managing Director with Alvarez & Marsal Tax in Sydney, and leads the firm’s Private Equity Tax team in Australia. He specializes in providing transaction tax advice on the deployment of capital, and advising fund managers with the tax structure of their funds under management.
With nearly 20 years of experience, Mr. Sharp has advised private capital fund managers spanning private equity, venture capital, credit and family offices on their investment activity. He provides end-to-end tax advisory services, assisting managers with the tax structure of their funds management business, the design of the funds under management, due diligence and tax structuring on the investments being made by the fund, as well as tax advice on the realization of investments.
Mr. Sharp’s notable assignments include advising on the tax structuring of the then largest private equity fund raise in Australian history and the then largest take-private in Australian history by that fund manager. Most recently, he advised a number of fund managers on the raising of environmental opportunities funds and the deployment of capital by those funds into carbon-offsetting businesses.
Prior to joining A&M, Mr. Sharp spent seven years as a Partner with Ernst & Young in Sydney.
Mr. Sharp earned a bachelor’s degree in science in pure mathematics and applied mathematics from Sydney University and an LLM in intellectual property law from the University of Technology, Sydney. He is a practicing solicitor in the State of New South Wales.
In Kilgour v Commissioner of Taxation [2024] FCA 687, an attempt to “reverse Uno” the market value substitution rule, whilst backfiring on the taxpayer applicants (Applicants), has clarified the meaning of “market value” for tax purposes and the facts and circumstances in which parties can be acting at arm’s length in relation to a particular transaction.
Recent legislative changes to Australia’s taxation system, coupled with current market conditions, present a unique set of tax and commercial considerations for Private Equity (PE) fund CFOs. In this update, A&M analyses these factors and explores effective strategies to navigate them.
The intricacies surrounding foreign private equity investment into Australia remains a central focus area for regulatory bodies including the Australian Tax Office (ATO) and the Foreign Investment Review Board (FIRB). International private equity funds should be cognisant of the ATO’s concern when considering investing in Australia and addressing these concerns proactively is crucial. How can international private equity funds navigate these complexities in Australia?
The recent announcement of the Australian Federal Budget has revealed notable changes to the taxation system, impacting multiple facets of tax in private equity. Explore A&M's comprehensive analysis covering the latest private equity tax developments in Australia and what professionals can do to address these changes.
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