Robert Frastai

Partner New York

Biography

Robert Frastai is a partner in Weil’s Tax Department and is based in New York. His practice is focused on the tax aspects of the formation and investing activities of domestic and international private equity funds.

Robert has extensive experience advising clients with respect to transactions involving partnerships, limited liability companies and other pass-through entities. These transactions include acquisitions, dispositions and joint ventures. He also has significant experience advising on complex private fund seeding arrangements, secondary transactions and spin-outs.

Robert regularly advises a wide variety of private investment funds including buyout, growth equity, infrastructure, debt and real estate opportunity funds. He has also represented investment banks, sovereign wealth funds and major pension funds in their United States and international investment activities.

Robert is recognized as a leading lawyer for Tax in New York by Chambers USA, where clients note he is “a very creative and practical problem solver” and has “broad and deep industry experience.” He is recognized as a “Bankruptcy Tax Specialist” by Turnarounds & Workouts magazine. He has also been recommended for U.S. Taxes: Non-Contentious by Legal 500 US, named to the inaugural Lawdragon “Leading Global Tax Lawyers” list, and is recognized for Tax by Super Lawyers.

Robert received his J.D. and LL.M. degree in Taxation from New York University School of Law and his B.S., cum laude, in Accounting from New York University Stern School of Business where he was a member of the Beta Gamma Sigma Business Honorary.

Practice Areas

Admissions

New York State

Education

New York University (B.S., 1992)
New York University School of Law (J.D., 1996)
New York University School of Law (LL.M., 1999)

Awards and Recognition

Robert Frastai Named a "Leading" Lawyer for Tax in New York Award Brief — Chambers USA
Robert Frastai Named to the Inaugural “Leading Global Tax Lawyers” List Award Brief — Lawdragon
Robert Frastai Named a “Bankruptcy Tax Specialist” Award Brief — Turnarounds & Workouts

Latest Thinking

IRS Issues Final Regulations on Disclosure of Partnership Related-Party Basis Adjustment Transactions Blog Post — Tax Blog — By Robert Frastai and Lauren Gorsche — January 30, 2025
On January 14, 2025, the U.S. Treasury Department and IRS published final regulations (T.D. 10028) (the “Final Regulations”) classifying certain partnership related-party basis adjustment transactions (and substantially similar transactions) as “transactions of interest” (TOIs), a type of reportable transaction subject to disclosure. Unfortunately, the Final Regulations as drafted apply to certain ordinary course commercial transactions undertaken by private funds. While basis adjustments may be a feature of such a transaction, in our experience, private fund sponsors are motivated by economics and commercial deal terms rather than tax outcomes tied to tax basis adjustments. ...
Chambers Expert Focus Weil Tax Insight Series: Tax Implications of New Rules Under the Advisers Act Blog Post — Tax Blog — By Robert Frastai and Andrew Morris — October 17, 2023

In this edition of the Chambers Expert Focus Weil Tax Insight Series, Weil Tax partners Robert Frastai and Andrew Morris discuss the impact of the SEC’s recently adopted rules under the Investment Advisers Act of 1940 on certain tax structuring and compliance matters for private funds, including after-tax clawback obligations, blocker and withholding taxes that are allocated to

The post Chambers Expert Focus Weil Tax Insight Series: Tax Implications of New Rules Under the Advisers Act appeared first on Weil Tax BLOG.
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