Ropes & Gray's San Francisco office will host its annual Private Equity (PE) Workshop on November 10, “Investing in an MSO.” The workshop will give private equity clients an in-depth look at the legal, regulatory, tax, and commercial considerations that arise when private equity sponsors invest in management services organizations (MSOs).
Tax, regulatory, executive compensation, and M&A attorneys from across the firm will lead training sessions and conversations in multiple concurrent tracks designed to address the needs of professionals at varying levels of experience.
Event Details
Location:
Ropes & Gray
One Maritime Plaza
San Francisco
Tuesday, November 10, 2026
4:30 PM: Welcome & Registration
5:00 PM: Workshop Session 1
5:45 PM: Break
6:00 PM: Workshop Session 2
6:45 PM: Cocktails & Networking
Session 1
TRACK 1 | FOUNDATIONS
MSOs 101: Understanding the Structure, Economics, and Key Considerations
Health care partner Christina Bergeron and private equity partner Chau Le will lead a foundational session providing an overview of the MSO model, including the key structural, regulatory, and operational features that private equity investors need to understand when evaluating MSO investments.
TRACK 2 | ADVANCED PRACTICE
Tax Considerations for MSOs: Structuring Issues, Pitfalls, and Emerging Trends
Tax partner Benjamin Rogers will lead an advanced session examining the tax structuring considerations and recurring tax issues that arise in MSO transactions, including consolidation issues, rollover structuring, and exit planning.
Session 2
TRACK 1 | FOUNDATIONS
Executive and Incentive Compensation in MSO Structures: Key Considerations and Best Practices
Executive compensation & employee benefits partner Kyle Higley will lead a session focused on the executive compensation and incentive equity structures used in MSO transactions, including management equity programs and performance-based incentives.
TRACK 2 | ADVANCED PRACTICE
Professional Services MSOs: Structuring Accounting and Law Firm Transactions
Private equity partners Elizabeth Gallucci and Reed Harasimowicz will explore the unique legal and commercial considerations that arise when structuring MSO investments in the accounting and law firm sectors, including corporate practice prohibitions, fee-splitting rules, state licensing requirements, independent professional judgment, and the interplay between equity ownership and professional governance.
TRACK 3 | ADVANCED PRACTICE
MSOs in Regulated Industries: Structuring Health Care, Architecture and Engineering Transactions
Christina Bergeron and Chau Le will examine the sector-specific considerations for MSO investments in health care, architecture, and engineering, including corporate practice restrictions, state regulatory frameworks, and the structural adaptations required to navigate the distinct professional licensing regimes in each industry.
Prior PE Workshops hosted by Ropes & Gray's San Francisco office have covered incentive equity topics and carve-outs. The PE Workshops are an annual in-house educational series designed to give private equity professionals topical information and a forum for timely discussions with their peers.
For more information or to register, please contact any of the speakers or your usual Ropes & Gray contacts.
Ropes & Gray Speakers
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