Tanden represents clients in corporate and tax matters across a broad spectrum of domestic and cross-border transactions. Tanden assists clients with investment management transactions, including the formation of and investments by public and private investment funds and investors. He advises business development companies, closely held businesses, public and private investment funds and real estate investment trusts (REIT). Tanden also has particular experience with retail, beauty and apparel companies, and represents health care professionals and practices. Tanden is a fellow in the American College of Tax Counsel.
“Raj’s practice covers the comprehensive scope of tax law. His familiarity with fund formation transactions requires a specialized tax expertise that will be invaluable to our clients in the private equity and fund formation space,” said Jack Lasater, chair of the firm’s Business Law Department.
In addition, Tanden has received several innovative Internal Revenue Service private letter rulings on behalf of clients, including one of the first rulings that a publicly-registered, non-traded REIT may adopt a “multi-class” structure similar to those used by mutual funds.
“Raj is a recognized authority on tax law throughout the Southern California region and we look forward to having him as part of our team. His presence expands the firm’s tax practice on the west coast and our clients will greatly benefit from his expertise handling complex tax matters in California and nationally,” said Jeff Atkin, managing partner of Foley’s Los Angeles office.
IRS Private Letter Rulings Experience
Mr. Tanden has received several innovative U.S. Internal Revenue Service (IRS) private letter rulings on behalf of clients, including:
- One of the first rulings that a publicly-registered, non-traded REIT may adopt a “multi-class” structure similar to those used by mutual funds
- Other rulings applicable to REITs, including that a target C corporation may issue a note to distribute out all of its historic “earnings and profits” before its acquisition by a REIT, as long as the target’s historic business and assets would be used to repay the note after the acquisition
- Rulings on behalf of public investment funds, including the following: the first rulings issued by the IRS that an acquiring mutual fund need not retain any assets of a target fund under the “continuity of business enterprise” doctrine; and that cancellation of indebtedness income would constitute qualifying income
- Rulings that taxpayers subject to SEC Rule 144A restrictions on the sale of stock in a publicly-traded company may use the “installment method” for the sale, even though the method cannot be used for publicly-traded property
- Rulings on like-kind exchanges, including the following: a tenant may exchange commercial leasehold interests where a third-party would pay a substantial sum to build out the tenant’s new space (also known as a “build to suit”); and an accommodator would not be disqualified from completing like-kind exchanges for paying a referral fee to brokers who also own equity in the accommodator
Representative Corporate Matters
- Expert witness in litigation involving a public REIT in a “going private” transaction
- The Fog Cutter Capital Group: a Los Angeles-based, restaurant-focused private equity portfolio
- JBrand Jeans: a leading designer, marketer and manufacturer of premium denim products in connection with a sale of a portion of their business to a private equity focusing on consumer brands
- Wells Fargo Advantage Funds: the Wells Fargo mutual fund family with over $300 billion assets under management
- White Oak Global Advisors: a San Francisco-based, private investment fund advisor specializing in lending
Prior to joining Foley, Tanden was a partner at Buchalter Nemer.