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Nathaniel Marrs

Nathaniel Marrs

Co-Head, Investment Funds Practice
He is a terrific lawyer who is very practical and thorough in his approach to deal structuring and problem solving.
Chambers Global 2023

Nathaniel Marrs is a Partner in the Chicago office of DLA Piper and Co-Head of the Firm's Investment Funds Practice.

His practice is focused on the structuring and formation of private funds and their management companies, with a particular focus on real estate, infrastructure and energy firms. He also represents such firms in a variety of corporate transactions, including roll-ups, joint ventures, co-investments, the formation of portfolio and other operating companies, and investment management M&A transactions.

Bar admissionsIllinois


  • Formation of numerous US and international private funds
  • Representation of US and international investors in their investments in private funds
  • Formation of management companies and general partner vehicles for investment fund sponsors
  • Formation of portfolio and other operating companies
  • Negotiation of co-investment, joint venture and club arrangements
  • Representation of investment fund sponsors in investment management M&A transactions of various types, including the acquisition of minority and majority stakes in other investment managers
  • M.B.A., The University of Chicago Booth School of Business 2004
    Dean's List Multiple Quarters 
  • J.D., University of Michigan 1996
  • B.A., University of Michigan 1993
    summa cum laude,
    Phi Beta Kappa, 
    Five-time Angell Scholar


  • Chambers Global
    • Band 5, USA Private Equity: Fund Formation (2022 - 2023)
  • Chambers USA
    • Band 5, Nationwide Private Equity: Fund Formation (2021 - 2023)
  • The Legal 500 United States
    • Recommended, Private Equity Funds (including Venture Capital) (2020 - 2023)
  • Selected as a Leading Lawyer in Illinois by Leading Lawyers Network



  • Speaker, "Tax Implications of Private Equity Waterfall and Carried Interest Provisions," Lorman, May 2, 2023
  • Speaker, "Tax implications of private equity waterfall and carried interest provisions," DLA Piper, 4 December 2019
  • Speaker, Joint Ventures: Waterfall Structures, Carried Interest, IRR Lookback, Clawback and Catchup, 14 November 2019
  • Active speaker on investment fund topics, including at The University of Chicago Booth School of Business, Northwestern Law School and Northwestern Kellogg School of Management

Memberships And Affiliations

Advisory Board Member of The University of Chicago Booth School of Business Real Estate Alumni Group and a member of PREA