Kunal Nathwani

Partner Tax
Kirkland & Ellis International LLP

London +44 20 7953 2904

Kunal Nathwani

Practices

Overview

Kunal Nathwani is a tax partner in the London office of Kirkland & Ellis International LLP.

Kunal advises on a wide range of international tax and structuring matters with particular experience in advising fund managers on tax and structuring issues relating to private funds, from inception to exit. Kunal also has experience advising managers in relation to the structuring of fund management businesses and complex remuneration packages.

Kunal has extensive experience acting for institutional investors (including UK and non-UK pension funds, governmental entities, sovereign wealth funds, life assurance companies and other insurance companies) in relation to regulated and unregulated investments.

Kunal also has experience advising on complex international and domestic tax disputes and investigations. He also advises on alternative disputes resolution with respect to tax disputes and investigations including mutual agreement procedures.

Since joining Kirkland, Kunal has been involved in the following matters:

Real Estate and Infrastructure

  • Blue Owl on various real estate and infrastructure funds 
  • GLP Capital Partners on various logistics funds
  • Ares on various real estate funds 
  • KKR on various European real estate separate managed accounts
  • Edelweiss on various real estate, infrastructure, renewables and special opportunities funds
  • LaSalle Investment Management on a real estate related separate managed account
  • RealTerm on certain open-ended logistics funds 
  • Tract Capital Management on various logistics funds 
  • GIC on its investment in a property-focused SMA

Growth Equity / Buyout

  • A&M Capital on various funds 
  • Highland Europe on various funds and special managed accounts
  • KLAR Capital on various funds
  • Marlin Equity Partners on various funds
  • Warren Equity Partners on various funds

Credit

  • MV Credit on various funds and special managed accounts
  • Neuberger Berman on various funds and special managed accounts 
  • Oaktree on various funds and special managed accounts 
  • Park Square Capital on a credit focused separate managed accounts

Continuation Vehicles

  • Global sponsors on various continuations vehicles in the buyout, growth equity, infrastructure and credit sectors

Asset Management M&A and GP Stakes

  • GLP Capital Partners on the sale of its international asset management business to Ares
  • GHO Capital on its merger with the CBC Group
  • Proprium Capital Partners on the sale of a 75% stake to Legal & General plc
  • A leading global sponsor on a stake acquisition by an institutional investor

Finance

  • Financings for sponsors of various sizes and across multiple jurisdictions including:
    • capital call / subscriptions lines / equity bridge facilities
    • NAV financings
    • GP facilities / management company financings / professional loan programmes
    • continuation fund financings / leverage for secondary transactions
    • real estate financings

Corporate

  • GLP Capital Partners on various transactions including:
    • the global private equity capital advisory business of M3 Capital Partners
    • various real estate assets across European jurisdictions
  • Ares on various real estate transactions
  • Advent and Ultra on the sale of Ultra Energy to Curtiss Wright
  • KKR on an acquisition of a European infrastructure company
  • Lingotto on various European acquisitions
  • Clayton, Dubilier & Rice-backed Morrisons on the sale of 337 Morrisons petrol forecourts and more than 400 sites for electric vehicle charging development to Motor Fuel Group

Disputes

  • Advising a leading sponsor in relation to an international withholding tax dispute
  • Advising a UK manager in respect of an investigation by HMRC with respect to its partnership arrangements

Prior to joining Kirkland, Kunal was involved in the following matters:

  • Aozora GMAC Investment Limited in the landmark judicial review heard by the Court of Appeal in The Queen oao Aozora GMAC Investment Limited v HMRC [2017] EWHC 2881
  • Aozora GMAC Investments Limited in the first-tier tribunal in Aozora GMAC Investments Limited v HMRC [2021] UKFTT 0099 (TC)
  • Formation of a tokenised fund investing across Europe and South America
  • Formation of the first UK-focused Singapore REIT by Elite Commercial REIT
  • A mutual agreement procedure in relation to a transfer pricing dispute for a major technology company

More

Thought Leadership

Publications

Author, “AI in Tax Administration: Harder, Better, Faster, Stronger”, Tax Adviser, 2025

Author, “Artificial Intelligence in Automated Decision-Making in Tax Administration: The Case for Legal, Justiciable and Enforceable Safeguards”, Institute for Fiscal Studies Tax Law Review Committee, 2024

Author, “AI in Tax Administration: The Need for Taxpayer Safeguards”, Tax Journal, 2024

Author, “Section 126: Financial Institution Notices”, British Tax Review, 2021

Co-Author, “Prudential Assurance Co Ltd v HMRC: Remedying EU Discrimination in Foreign Portfolio Dividend Cases”, British Tax Review, 2019

Co-Author, “The International Tax Compliance Landscape”, Tax Journal, 2019

Co-Author, “Taxing Token Generation Events”, Tax Journal, 2018

Speaking Engagements

Presenter, “Artificial Intelligence in Tax Administration – Opportunities, Evidence, and Safeguards”, International Centre for Tax & Development, February 2026

Presenter, “Artificial Intelligence in Automated Decision-Making in Tax Administration: The Case for Legal, Justiciable and Enforceable Safeguards”, Oxford University Centre for Business Taxation, September 2025

Presenter, “Artificial Intelligence in Tax Administration”, Oxford University Centre for Business Taxation, MSc Summer Tax Policy Symposium, July 2025

Presenter, “Panel discussion: AI – Working in the Digital Practice”, CIOT Autumn Residential Conference, September 2024

Recognition

Recognized in The Legal 500 as a “Rising Star” for Tax Litigation and Investigations, 2019–2022

Memberships & Affiliations

Institute for Fiscal Studies Tax Law Review Committee

Credentials

Admissions & Qualifications

  • 2017, Admitted to practice as a Solicitor of England and Wales
  • 2019, New York

Languages

  • English
  • Hindi
  • Spanish
  • Gujarati
  • Marathi

Education

  • University of OxfordM.Sc., in Taxationwith Distinction2019
  • University College LondonLL.B. (Hons)2013
    Chartered Institute of Taxation Prize