Sung H. Hwang

Partner
Hwang Sung
Sung Hwang focuses on the full spectrum of business tax law, including complex structured financial products, mergers and acquisitions, real estate and real estate investment trusts (REITs), investment management, mezzanine financing, business tax, tax controversies and litigation, private equity, international tax, and multi-partner joint ventures. Sung also represents tax-exempt organizations. He represents clients before the Internal Revenue Service (IRS), and state and local tax authorities regarding tax ruling requests and audits. 

Sung has considerable experience in domestic and cross-border transactions involving real estate partnerships and funds, private equity funds, hedge funds, asset managers, family offices, and financial institutions. He also has experience with tax credits, including energy-based tax credits. Sung previously worked for the IRS. 

In addition to his legal career, Sung is an officer in the U.S. Army Reserve and previously served with the New York Army National Guard. In 2008, he was deployed to Afghanistan with a New York Army National Guard infantry unit as part of Operation Enduring Freedom. Sung has also participated in several domestic operations, including those arising with respect to Hurricanes Sandy and Irma.

Experience

Representative Matters

  • Advised a major European online travel company (OTC) in negotiating U.S. tax aspects of a strategic alliance with a major American OTC
  • Represented a power tool maker in its sale to its publicly traded competitor
  • Represented a leading provider of clinical software solutions in its acquisition by a private equity investment firm, in a transaction valued at $195 million
  • Represented and structured mezzanine debts for a mortgage REIT client
  • Represented a client in the creation of a privately held REIT for two institutional investors to acquire an office property in Manhattan
  • Represented a client in structuring a hybrid shopping mall/hotel REIT
  • Represented a solar energy developer in structuring and negotiating joint ventures with institutional investors
  • Represented a UK-based hedge fund in its relocation to the Cayman Islands
  • Represented a logistics management company in an initial public offering of its stock through an “UP-C” structure
  • Represented a New York City (NYC) real estate developer in the acquisition of a three-acre industrial site in Bushwick, Brooklyn for development into a mixed-used office, retail, and restaurant property; included the structuring of two joint ventures and financing from a NYC-based real estate financing firm
  • Represented a Hong Kong-based asset management company in an investment in a joint venture to develop commercial real estate in the U.S.
  • Represented an investment manager in the formation of a domestic hedge fund that will invest in undervalued situations across a broad range of asset classes, industries, and markets by utilizing its own proprietary fundamental research, sourcing, and diligence methodologies
  • Represented a New York–based investment manager in a joint venture with an Argentine investment advisor, in establishing a private investment fund for investing in Argentine public equities, debt, private equity, and real estate
  • Represented a development-stage life sciences company in its reverse triangular merger with a public company
  • Represented a Securities and Exchange Commission–registered investment adviser in restructuring its Cayman Islands master-feeder fund complex to reflect the addition of new share classes and changes to fee terms
  • Represented a hedge fund in negotiating a seed investment by a large university endowment, restructuring terms of the existing fund vehicle to accommodate the seed investor, and converting the fund into a master-feeder structure
  • Represented a hedge fund in the formation of a separate series, formed to acquire $10 million in credit-linked floating rate notes issued by a large financial institution
  • Represented an investment manager in the formation of a hedge fund that acted as both a fund-of-hedge funds and a direct investor
  • Represented a master-feeder hedge fund that invests opportunistically in a long-short balanced portfolio consisting primarily of U.S. equity securities
  • Represented an investment advisor in the formation of a master-feeder hedge fund structure with a global investment strategy
  • Represented a private equity fund in the acquisition, from a large investment bank, of senior mezzanine and first mortgage loans encumbering a property on Manhattan’s Upper West Side
  • Represented an international private investment bank regarding tax structuring, regulatory compliance, and risk mitigation issues for its outsourcing and employee sharing arrangements related to registering a U.S. broker-dealer subsidiary
  • Represented a hedge fund in its sale to a publicly held special-purpose acquisition company organized in the Cayman Islands
  • Represented the trustee of a bankruptcy estate of a hedge fund in its bankruptcy workout
     

Insights

Credentials
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Education

  • LL.M. New York University School of Law 2002
  • J.D. New York University School of Law 2000
  • Associate Editor, Moot Court Board
  • B.A. summa cum laude City University of New York, Hunter College 1995

Bar Admissions

  • New York

Court Admissions

  • U.S. Tax Court

Professional Memberships and Activities

  • Co-chair, Asian Practice Committee, New York County Lawyers Association
  • Co-chair, Military & Veterans Committee, Asian American Bar Association of New York
  • Member, American Legion
  • Member, International Fiscal Association, U.S. Branch
    • Joint General Reporter, Investment Funds topic, London Congress 2019
  • Member, Korean American Lawyers Association of Greater New York
  • Has published and lectured on investment fund and  REIT taxation, cryptocurrency and block-chain matters, tax issues affecting immigrants, and other subjects

Languages

  • Korean
  • Spanish