Director, Head of Tax

Cercano Management LLC (“Cercano”) is an SEC-registered investment manager focused on ultra-high net worth clients and the entities associated with those clients, such as family foundations. Based in Bellevue, WA, with offices in Minneapolis, MN, and Singapore, Cercano invests globally, commonly operating as the family office Chief Investment Officer. The team has extensive experience in direct investing across venture capital, private equity, private credit, and public equities. Cercano offers services for all aspects of a client’s assets or family office, including significant investments in non-financial assets such as fine art, professional sports teams, entertainment properties, intellectual property, commercial real estate, farmland, and personal residential estates.

About the role

The Director of Tax provides firmwide tax leadership across the investment advisory and investment management platform, including advisory services for families, foundations, and related entities, and investment management for alternative investment funds. This role owns tax strategy and technical governance; serves as the senior tax advisor on transaction review, structuring, and documentation across all strategies; and partners closely with Finance, Legal, Investments, Client Service, and external advisors. The position is based in either the Wayzata, MN or Bellevue, WA office.

Responsibilities

• Transaction Due Diligence and Structuring:
  • Lead tax review of investment transactions across all strategies, including private equity, private credit, venture capital, and family/foundation structures.
  • Design and implement structuring for US taxable investors, US tax-exempt investors, and foreign investors to mitigate negative tax implications.
  • Partner with Legal on review and negotiation of fund and investment documents (e.g., LPAs, LLC agreements, subscription agreements, side letters, credit agreements, and other transaction documents).
  • Own the preparation and maintenance of written tax analyses, transaction memoranda, and internal guidance documenting tax positions, assumptions, and materiality thresholds.
  • Independently identify tax risks, structuring opportunities, elections, and compliance considerations at the transaction stage.
• Compliance and Reporting:
  • Oversee the entire federal, state, and international tax compliance process across all funds, including preparation of estimates, review of tax returns, and managing tax distributions.
  • Assist with tax planning and forecasting of each client’s taxable income position.
  • Communicate relevant tax developments to clients, Investment team, Leadership, and the company as a whole.
  • Assist with the defense of all tax positions taken on the tax returns, including establishing strategic and tactical positions on all tax audits, negotiating with IRS personnel and state/local tax authorities, and developing a strategy for responses to tax information requests.
  • Provide exceptional client service, including regular communication on estimated taxable income, timely annual tax reporting information, and updates on relevant tax developments impacting investment entities.
• Investment Tax Advisory:
  • Serve as a trusted tax advisor to the Investment team, proactively communicating tax considerations related to acquisitions, restructurings, dispositions, and liquidity events.
  • Monitor and interpret tax law developments and translate them into practical guidance for internal stakeholders.
  • Support structuring and review of complex partnership allocations, waterfalls (American and European), and carried interest arrangements.
  • Partner with portfolio managers and external advisors to identify tax planning opportunities for families, foundations, and related entities, aligning tax planning with investment strategy and governance objectives.
• Leadership and Process Improvement:
  • Own tax function leadership and team, including tax process design, technical governance, and continuous improvement initiatives; set priorities, service levels, and escalation protocols across funds and advisory engagements.
  • Enhance documentation standards, transaction review workflows, and process controls to support scale and risk management.
  • Manage relationships with external tax advisors and service providers to ensure timely, high-quality deliverables.

Requirements

• Excellent organizational, writing, and interpersonal skills.
• Demonstrated ability to independently evaluate, document, and support tax positions for complex investment transactions for domestic, foreign, and tax-exempt investors.
• Proven ability to lead a tax function (direct reports and outsourced service-providers), set priorities, and drive timely, accurate execution in a deadline-driven environment.
• Exposure to US and foreign investments and structuring options to minimize tax implications.
• Deep technical knowledge of tax issues related to venture capital, private equity, private credit, and fund of funds investments, including both domestic and international.
• Highly organized, detail-oriented, and able to work both collaboratively and independently.
• Strong communicator who can simplify complex tax concepts for individuals outside of the tax team.
• Ability to establish strong and effective working relationships throughout operational groups and with external stakeholders.
• Team player; flexible to learn other responsibilities and adapt to client needs.
• Ability to work with confidential data, maintain discretion, and demonstrate trustworthiness.

Qualifications

• B.A. or B.S. in Accounting, Finance, or a related field from an accredited institution.
• Advanced degree in taxation or related field preferred.
• Minimum of 10 years of relevant industry experience in tax, public accounting preferred.
• CPA required.
• Preferred: Experience with ultra-high net worth family offices and private foundations, including self-dealing, excess business holdings, UBTI, and related excise tax regimes.

Pay

Salary range: $210,000 - $270,000 annually. Pay will be based on multiple factors, including location, relevant experience/level, and skillset while balancing internal equity. A discretionary bonus program is in addition to the base compensation range.

Benefits

• Comprehensive benefits package including medical, dental, and vision insurance.
• Health Savings Account with generous annual employer contribution.
• Flexible Spending Accounts for health and dependent care.
• Vacation and sick time off, paid holidays, and paid parental leave.
• Opportunity to participate in a 401(k) plan with a generous employer match of 50% of your own contributions up to the standard annual IRS limit.
• Company-paid life insurance.
• Health and Wellness Benefit.
• Reimbursement for approved professional development activities.