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Won-Han Cheng

Won-Han Cheng is a partner and a member of the Asset Management and Investment Funds practice. Won-Han focuses her practice on federal, state, and international tax issues for both foreign and domestic clients, including public and private corporations, partnerships, and limited liability companies. She advises clients on partnership and corporate tax issues, restructurings and reorganizations, mergers and acquisitions, and other tax planning issues in a wide range of industries including technology, real estate, health care and energy.

Won-Han works extensively in the area of alternative investments, assisting institutional investors with economic and tax issues related to investments in pooled investment funds, including private equity funds, hedge funds, venture capital funds, real asset funds and special situation funds. Won-Han has also worked on structuring significant and unique relationships with investment managers.

Won-Han has been recognized by Chambers USA, Tax - Washington since 2020. She is also listed in The Best Lawyers in America® for Tax Law since 2023.

Prior to joining K&L Gates, Won-Han worked at “Big 4” accounting firms in Beijing, P.R.C. and Seattle, Washington.

  • Recognized by Chambers USA for Tax in Washington, 2020-2024
  • Listed in The Best Lawyers in America®  in Seattle
    • Corporate Law, 2025
    • Tax Law, 2023-2025
  • “Money! Money! Advanced Topics in Private Fund Investing,” National Association of Public Pension Attorneys (NAPPA) Legal Education Conference 2023, Presenter
  • “Opportunities and Challenges in Today’s Investment Environment – Where Legal Teams Can Make a Difference,” Institutional Limited Partners Association (ILPA) 2022 Private Equity Legal Conference, Panelist
  • “ILPA Industry Intelligence: ILPA’s 2021 Private Fund Terms Survey,” Institutional Limited Partners Association (ILPA) Summit 2021, Panelist
  • “Top Takeaways from ILPA’s 2021 Industry Intelligence Report: What’s Market in Fund Terms?,” Institutional Limited Partners Association (ILPA) 2021 Private Equity Legal Conference, Panelist
  • “Fund Economics in 2020: Where is Your Money Going?,” Institutional Limited Partners Association (ILPA) 2020 Private Equity Legal Conference, Panelist
  • “Evaluating Fund Economics: Variations in Waterfalls,” Institutional Limited Partners Association (ILPA) Webcast (July 27, 2020), Presenter
  • “Reviewing and Negotiating Fund Documents:  Key Tax Issues,” National Association of Public Pension Attorneys (NAPPA) Winter Seminar 2020, Presenter
  • “Don’t Go Chasing Waterfalls: Trends in Fund Economic Terms,” Institutional Limited Partners Association (ILPA) 2019 Private Equity Legal Conference, Panelist
  • “Impact of Tax Law Changes on Tax-Exempt Entities”, National Conference on Public Employee Retirement Systems (NCPERS) Education Webinar (2018), Presenter
  • “The New Tax Bill: Impact on Renewables”, Women of Renewable Industries and Sustainable Energy Education Presentation (2018), Presenter
  • “Going Global: How to Expand Overseas without Getting Lost in Translation,” WSBA International Practice Section (2016), Panelist
Additional Thought Leadership Pages
  • Co-author of the chapter “Innovation in Tax Credit Structuring for Solar Energy Projects” in the publication Energy and Environmental Project Finance Law and Taxation (2010)
  • Contributing Editor, Washington, Oregon and Alaska Limited Liability Company Forms and Practice Manual
Additional News & Event Pages
  • "Briefing: PE fees under scrutiny," IPE.com (Investments & Pensions Europe), December 2021
  • “Chasing Waterfalls: Clarifying Updates to Non-Economic Provisions in ILPA’s Model LPA (Part Two of Two),” pelawreport.com (Private Equity Law Report), September 2020
  • “Op-Ed: A Valuable Tool for Private Equity Fund Investments,” ai-cio.com (Chief Investment Officer), September 2020
  • “ILPA Releases deal-by-deal model LPA, term sheet,” privatefundscfo.com (Private Funds CFO), July 2020
     
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