Michael J. Milazzo advises clients on the tax aspects of forming, structuring, and investing in private funds across the US and Europe, as well as on liquidity solutions transactions.

Michael leverages significant experience to guide investment funds and their sponsors on tax matters involving:

  • Credit and debt funds
  • Private equity funds
  • Infrastructure funds
  • Continuation Funds
  • Real estate funds
  • Ventures/growth equity funds 

In addition, Michael also regularly represents sponsors and buyers in a wide range of liquidity solutions transactions, including general partner-led secondaries, limited partner-led secondaries, stakes investments, and preferred equity financings. He also represents clients on a wide range of other federal income tax matters relating to mergers, acquisitions, and credit investments and restructurings.

Michael’s experience includes advising:

Infrastructure Funds

  • Antin Infrastructure Partners on forming Antin Infrastructure Partners IV, a €6.5 billion global infrastructure fund*

Credit and Debt Funds

  • Blue Owl on forming Owl Rock Opportunistic Fund, a US$2 billion fund*
  • GSO on forming GSO Capital Opportunities Fund III, a US$6.5 billion global mezzanine fund*
  • Riverstone on forming Valor Upstream Credit Partners, L.P., a fund seeking to make structured credit investments in North American upstream oil and gas companies
  • An investment manager on raising an emerging markets distressed credit fund*

Private Equity Funds

  • Clayton, Dubilier & Rice on:
    • Forming Clayton, Dubilier & Rice Fund X, a US$10 billion North America and Europe buyout fund*
    • Establishing joint ventures with Kedaara Capital Advisors, a newly formed India-based private equity firm, and Principle Capital, an established China-based private equity firm*
  • EQT on forming various funds and accounts, including:
    • EQT Credit Opportunities III, a €1.3 billion Europe credit opportunities fund*
    • EQT Mid-Market Credit Fund II, a €2.3 billion Europe credit fund*
    • EQT Real Estate I, a €420 million Europe real estate fund*
    • EQT Real Estate II, a €1 billion Europe real estate fund*
    • EQT Ventures, a €566 million Europe technology/venture capital fund*
    • EQT Ventures II, a €660 million Europe technology/venture capital fund*
    • EQT Public Value Fund, an  evergreen fund that makes minority investments in public companies in Northern Europe* 
  • EQT on:
    • Its US$1.8 billion combination with Exeter Property Group, a leading global real estate investment manager*
    • Selling its credit business to Bridgepoint* 
  • Inflexion Private Equity on forming of its £2.5 billion Inflexion Buyout Fund VI*
  • GEF Capital Partners on forming GEF US Climate Solutions Fund II, a US$325 million fund focused on making control investments in lower middle-market companies in the United States and Canada to rapidly scale their climate change and pollution remediation solutions
  • Guggenheim Investments on various credit fund matters and transactions, including:
    • The closing of an approximately US$400 million vehicle that will invest in Guggenheim’s private debt strategy
    • The closing of a US$1.2 billion vehicle that will support the growth of Guggenheim’s private credit strategy
  • Great Mountain Partners on Saranac Holdings, a US$600 million fund formed to pursue investments across the media and entertainment ecosystem, including music, film and television, sports, gaming, and live entertainment
  • Oaktree Capital Management on forming various funds and accounts, including:
    • Oaktree Opportunities Fund XI, a US$15.9 billion fund, known as the largest distressed debt fund ever raised in the market and Oaktree’s largest fund in history*
    • Oaktree Real Estate Opportunities Fund VIII, a US$4.7 billion global real estate fund*
    • Oaktree Special Situations Fund II, a US$2 billion fund focused on control-oriented debt and equity investments in middle-market companies* 
    • Oaktree Power Fund V, a US$1.45 billion US energy and infrastructure fund*
  • Queen’s Park Equity on QPE Fund II, a £305 million fund 

Liquidity Solutions and Asset Management Transactions

  • Ares Management Corporation on various transactions, including an acquisition of a US$1.1+ billion portfolio of private equity fund interests, which Secondaries Investor named 2024 LP-Led Deal of the Year in the Americas
  • Argo Infrastructure Partners, a leading mid-market asset manager targeting essential infrastructure assets in North America, in its acquisition by Apollo
  • ERA Partners LLC on its US$485 million continuation vehicle to support its aerial wildland firefighting and heavy lift company within its American Aviation Holdings investment platform
  • FIC, an investment firm with a focus on critical infrastructure assets across the energy and power use value chains, on a GP-led secondary transaction for a portion of its existing equity interest in the Matterhorn Express 
  • Sixth Street, a leading global investment firm on its investment in L+M Companies, one of the country’s leading affordable and mixed-income housing developers

Venture and Growth Funds

  • Kinterra Capital Corp. on its second fund, Kinterra Critical Materials & Infrastructure Opportunities Fund II, LP, securing US$950 million in total capital commitments 
  • Lakeshore Capital on forming Lakeshore Capital II LP, a US$150 million fund focused on mid-market investments in Thailand and the Greater Mekong Subregion*
  • MaC Venture Capital on its third fund, a US$150 million fund that with a focus on investments in technology startups leveraging shifts in cultural trends and behaviors
  • PAG on forming PAG Growth II LP, a US$525 million growth-focused private equity fund*
  • TPG on forming TPG Rise Climate, a US$7.3 billion global climate-focused fund*

*Matter handled prior to joining Latham

Bar Qualification

  • New York

Education

  • JD, Cornell Law School, 2014
  • BA, Kean University, 2011
Badges and Logos_Law360_Fintech Group of the Year_2024
February 20, 2025 Recognition

Fintech Group of the Year: Latham

Firm honored by Law360 for advising startups, financial institutions, VCs, digital asset and Web3 participants, and corporations on their most innovative and complex transactions, investigations, litigation, and regulatory matters.