Mavnick Nerwal

Tax Partner, London

“I am a private equity tax specialist with extensive experience of advising on complex and innovative structures for banks and funds. As well as offering a high level of expertise, I offer sound judgment, clear guidance and a responsive service.”


Mav advises financial sponsors, including private equity and investment funds, corporates and financial institutions on a broad range of tax issues. He has particular experience and expertise in the global financial sponsors sector, where he regularly advises private equity houses, debt funds, alternative credit funds and other financial sponsor clients on all types of private equity transactions, debt acquisitions, securitisations, fund establishments and restructurings, and management incentivisation and carried interest planning.


Mav’s expertise across all areas of the financial sponsor sector and his experience in carrying out the structuring of transactions means that he is able to provide comprehensive and holistic advice to clients in relation to all tax aspects of the transactions they undertake. He also advises banks on the structuring of funds, on the tax issues arising out of M&A transactions and on standalone tax advice, as well as counselling clients on major tax disputes.


Mav has knowledge of the overall tax regimes in many core jurisdictions and coordinates with the firm’s tax experts in other offices. 


Work highlights


Mav has led on many tax deals or on the tax aspects of major transactions. These include advising:

  • Jacobs Holding on the acquisition of Cognita from Bregal Investments and KKR
  • TDR Capital on its acquisitions of EFR, Hurtigruten, IMO Group, David Lloyd Leisure, the Lowell Group and Stonegate, its investment into Euro Garages, and its disposals of the Lowell Group and VPS Europe
  • Cerberus on two buy-to-let loan portfolio sales to Metro Bank, on its acquisition of GE Money Bank in France and on its acquisition of Worldwide Flight Services
  • the purchaser on its acquisition of the £13bn UK residential mortgage loan book of Northern Rock Asset Management, the largest financial asset sale by a European government
  • Hg on its strategic investment in the Access Group
  • I Squared on the acquisition of TIP Trailer Services
  • CDPQ on its $400m investment in Hyperion Insurance Group
  • BC Partners and Pollen Street Capital on the £868m public takeover of Shawbrook Bank
  • Brait on the £1.9bn acquisition of New Look and the £1.3bn acquisition of Virgin Active