I'm going to be in a tax group in the summer (intern) and was wondering how a specialist tax group would fare in this economy? It's under the tax umbrella but has consulting elements (m&a tax)

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I’m in m and a tax and we are doing fine. Obviously a slow down while out clients are figuring stuff out but still have work. Most of our clients are mega funds with a shit ton of dry powder so they aren’t gonna stop acquiring companies, they are just gonna wait until there is some certainty. Dry powder is at a record high right now. I think I read 1.3 or 1.4 trillion. And the funds gotta spend it. Honestly, if you aren’t in the office it’s gonna be really hard to do any work. Our I terms don’t do anything usually when they are in the office. Can’t imagine having someone not in the office and try to teach them. Which office will you be in?

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Much of that “dry powder” is in the form of uncalled capital where the LPs might not have the liquidity to back them up atm.

Will be interesting to see what happens.

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