Mary B. Kuusisto is a partner in the Tax Department of Proskauer Rose and is also a member of the Firm’s Private Investment Funds Group. She currently splits her time between Proskauer Rose’s London and Boston offices.
She concentrates on tax planning for and structuring of domestic and offshore venture capital, buyout and other private equity financing partnerships, as well as advising those partnerships on operational issues and global investments in tax-transparent and corporate portfolio companies. She also advises investment fund managers and general partner with respects to tax planning, compensation arrangements and economic structures. Further, Ms. Kuusisto advises many types of investors, especially tax-exempt and non-US institutions, on their investments in US and non-US private equity partnerships. Ms. Kuusisto has represented hundreds of private equity partnerships in their formation and operational activities.
Ms. Kuusisto currently represents the National Venture Capital Association in connection with their tax legislative agenda and lobbying activities, most notably with respect to Congress’s recent carried interest tax proposals. She has also served as co-chair of a number of subcommittees of the American Bar Association Tax Section’s Committee on US Activities of Foreign Taxpayers and Tax Treaties through which she has participated in drafting public comments on proposed tax regulations and legislation that affect the international private equity community.
Ms. Kuusisto also speaks at numerous conferences that serve the private equity community, focusing on economic and strategic private equity fund issues such as trends in terms in the private equity industry, carried interest mechanisms, distribution and allocation methodologies, clawback and management fee strategies, and tax and regulatory updates. For several years she has co-chaired a well-known private equity tax conference, Private Equity Tax Practices, sponsored by the Institute for International Research in Boston. She also contributes to a number of private equity publications, authoring articles on similar topics and was recognized by Chambers USA: America’s Leading Lawyers for Business in 2007 and 2008 and selected as a Massachusetts Super Lawyer in 2006 and US Legal 500 in 2007 and in 2009 was named one of The Best Lawyers in America.
Ms. Kuusisto received her B.S., highest honors, from the University of Florida in 1986 and her J.D., , from Boston University in 1993. She was registered as a certified public accountant in Massachusetts in 1990 and worked for several years as an auditor and tax accountant with two international public accounting firms.
Ms. Kuusisto was admitted to the bar in Massachusetts in 1993 and is a member of the American and Boston Bar Associations.
Co-Chair, Capital Creation 2008 Conference, September 2008
“Carried Interest: Planning today to protect against tomorrow’s profits,” Speaker, IIR Private Equity Tax Practices Conference, June 2008
"Private Equity Fund Compensation: A-Z," Panelist, Financial Research Associates Webinar, March 2008
"Two and Twenty - How Legislation Could Change the Paradigm," Roundtable Facilitator, Women's Private Equity Summit, March 2008
"Carried Interest: How Recently Proposed Tax Changes Could Affect Limited Partners," Speaker, ICBI Super Return, February 2008
"Tax Season 2008: How To Lessen Your Firm's Tax Burden," Panelist, Dow Jones Private Equity Analyst Virtual Seminar, February 2008
"A View From Washington - Private Equity in the Limelight," Panelist, Private Equity International 5th Annual Private Equity COOs & CFOs Forum, January 2008
“Private Equity Fund Compensation: A-Z,” Panelist, Financial Research Associates Webinar, December 2007
"Initial Structuring Issues for Tax-Efficient Fund Formation," Panelist, Institute for International Research, Private Equity Tax Practices, October 2007
“Cracking the Compensation Code: Crafting Equity Packages to Win Over Venture Capital Professionals ,” Panelist, Dow Jones Private Equity Analyst Virtual Seminar, September 2007
“Recent Tax and Regulatory Updates" and "Initial Structuring Issues for Tax-Efficient Fund Formation," Co-Chair and Panelist, Institute for International Research, Private Equity Tax Practices, June 2007
“How to Lessen Your Firm's Tax Burden,” Panelist, Dow Jones Private Equity Analyst Virtual Seminar, March 2007
“Private Equity Fund Economics: Allocations and Distributions,” Speaker, Institute for International Research, Venture Capital & Private Equity Tax Practices, October 2006
“Emerging Trends and Key Tax Issues in Private Equity, VC and Mezzanine Funds,” Speaker, Financial Research Associates, Tax Practices for Private Equity Funds East, October 2006
“Operating in a smaller world: How global expansion impacts your business,” Panelist, Women in Alternative Assets, September 2006
“Private Equity Fund Economics: Allocations and Distributions,” Co-Chair and Panelist, Institute for International Research, Private Equity Tax Practices, June 2006
"Investor Hot Button Issues In The Current Fundraising Environment,"
Speaker, ICBI Super Return, February 2006
"Private Equity Financial Accounting and Fund Economics," Panelist,
Institute for International Research, Venture Capital and Private Equity Tax
Practices, October 2005
"Mandatory 754s and Other Tax Headaches: An Essential Map for Private
Equity and Venture Capital Firms and Fund of Funds," Panelist, Institutional
Investor, Audio Conference, July 2005
"Planning Strategies for Maximizing Tax Benefits within GP and Management
Company Entities," Co-Chair and Panelist, Institute for International
Research, Private Equity Tax Practices, June 2005
"Fundraising in 2005 and Beyond," Panelist, NVCA Annual Meeting
In-house VC Legal Counsel Program, May 2005
"Structuring Optimal Terms and Conditions in the Current Fundraising
Atmosphere," Panelist, Financial Research Associates, 2005 Private Equity
Fund Formation, January 2005
"What New Tax Reform Laws May Mean for Your Private Equity Firm,"
Panelist, Private Equity Analyst Virtual Seminar, December 2004
"Management Fees: Choosing the Appropriate Strategy and Structures,"
Panelist, Financial Research Associations, 2004 Tax Practices for Private
Equity Funds, October 2004
"Understanding Private Equity Partnership Taxation Workshop" and
"Building the Franchise- Fund Managers Look to the Future," Co-Chair
and Panelist, Institute for International Research, Private Equity Tax Practices,
June 2004
"A US Perspective," Panelist, UK Private Equity Lawyers Forum,
Annual Conference, April 2004
"Identifying the Key Tax Issues and Trends in VC and Private Equity
Funds" and "Clawbacks: Implementing Tax-Efficient Strategies for
Managing Clawback to Liabilities in VC/Private Equity Funds," Panelist,
Institute for International Research, VC & Private Equity Tax Practices,
October 2003
"Understanding the Basics of Private Equity Partnership Taxation,"
"Developing Effective Management Fee Planning Strategies at the Fund
Level," and "Clawbacks: Risk Modeling and Clawback Solutions,"
Panelist, Institute for International Research, Private Equity Tax Practices,
June 2003
"Mastering Effective Tax Practices for Venture Capital & Private
Equity Funds: Management Fees: Deferral, Conversion, and Tax-Efficient Structures,"
Panelist, Institute for International Research, Super Return USA 2003, April
2003
"Strategies for Managing Clawbacks Obligations," Panelist, Private
Equity CFO Association, New York City Chapter Meeting, January 2003
"Clawbacks," Panelist, PricewaterhouseCoopers LLP, Current Trends
in Venture Capital, December 2002
"General Partner Tax Planning," Panelist, Institute for International
Research, Tax Practices for Venture Capital and Private Equity Funds, October
2002
"Tax Planning Issues for Fund Management Groups," Panelist, Institute
for International Research, Private Equity Tax Practices, May 2002
"Funds: When Do Their Activities Rise to the Level of Engaging in a
U.S. Business," Panelist, ABA Tax Section-USAFTT, May Meeting, May 2002
"Leverage in the Fundraising Process," Speaker, ICBI, Super Return, February 2002
"Current Terms In Private Equity Funds," Speaker, International
Bar Association, International Conference on Private Investment Funds, February
2002
"The Fund Formation Process," Speaker, Strategic Research Institute,
Private Equity Roundup 2002, January 2002
"Identifying a Win-Win Carried Interest Formula," Speaker, Institute
for International Research, Private Equity Fund Formation, April 2001
"Cross-Border Tax Planning for Hedge Funds and Other Securities Investment
Vehicles," Panelist, ABA Tax Section-USAFTT, Mid-Year Meeting, January
2001
"Drafting Partnership Agreements: GP and LP Perspectives on Terms, Conditions,
and Competition," Speaker, Strategic Research Institute, Private Equity
Roundup 2001, January 2001
"Evaluating Distribution Methodologies," Speaker, Institute for
International Research, Private Equity Fund Formation, November and December
2000
