Lior Ohayon is a partner and Co-Chair of the firm’s Asset Management Department. Over the past two decades, Lior has advised investment management firms, financial services companies and banks on the formation and operation of management companies and investment funds, including investments and co-investments, financings, liquidity events, secondary transactions and employee compensation across investment structures, market cycles and asset classes in the U.S. and abroad, with a particular focus on private equity, credit, infrastructure and real estate.

Chambers USA (2024) ranks Lior among the leading individuals practicing in the area of Private Equity: Fund Formation where he is noted as “one of the fiercest advocates in the space.”  Legal 500 (2024) recognizes him as “a consummate professional with excellent ability to reason, problem solve, and manage a high-quality team.” In Chambers Global, where Lior ranks among the leading individuals practicing in the area of Private Equity Fund Formation in the United States, he has been described as “absolutely phenomenal,” a practitioner who is “very sharp from a commercial perspective” and “incredibly smart, personable, professional and patient.” Lior was also named to Private Funds Management’s list of the top 30 private funds lawyers under 40 in 2015. 


Prior to joining Willkie in 2017, Lior was Chair of the Private Funds Group and Co-Chair of the Corporate Practice at Stroock & Stroock & Lavan LLP in New York.

  • Listed in Chambers USA: America's Leading Lawyers for Business (2016-2023) for his work in Private Equity: Fund Formation
  • Listed in Chambers Global (2019-2024) for his work in Private Equity Fund Formation (USA)
  • Nationally recommended by The Legal 500 United States for his work in Investment Fund Formation and Management: Private Equity Funds (including venture capital) (2018-2023), Alternative/Hedge Funds (2015, 2016, 2018, 2022) and Mutual/Registered/Exchange-Traded Funds (2022-2023)
  • Recognized by Best Lawyers in America for Private Funds/Hedge Funds Law (2022-2023)
  • Recommended by Who's Who Legal for Private Funds: Formation (2016-2021)
  • Named to Private Funds Management's 2015 list of the top 30 private funds lawyers under 40
  • Recognized by Super Lawyers (2018-2023)
  • Member, The Association of the Bar of the City of New York
    • Member, Committee on Private Investment Funds
  • Member, Committee on Federal Regulation of Securities, American Bar Association
    • Member, Subcommittee on Hedge Funds
  • Member, International Bar Association
  • Member, Outside Counsel Forum Committee, Managed Funds Association
  • Member, Pension Real Estate Association ("PREA")

Selected Publications

Select publications include:

  • Co-Author, "Why More Alternative Asset Managers Should Embrace the 1940 Act," The Investment Lawyer, July 2023
  • Co-author, “Federal Reserve Board Proposes to Codify “Control” Standards,” Willkie Client Alert, May 8, 2019
  • Co-author, “ILPA Issues Guidance on GP-led Secondary Fund Restructurings,” Willkie Client Alert, April 15, 2019
  • Co-author, “OZ Proposed Regulations Ease on Down the Road Toward Workable Tax Incentive,” Willkie Client Alert, October 30, 2018
  • Co-author, “The Opportunity Zone (OZ): the Great and Powerful Tax Incentive?,” Willkie Client Alert, October 3, 2018
  • Co-author, “U.S. Regulatory Agencies Propose Amendments to Rules Implementing the Volcker Rule,” Willkie Client Alert, June 11, 2018
  • Co-author, “Keeping Current: SEC Enforcement Heightens Concern over Broker-Dealer Registration for Private Equity Firms,”  Business Law Today, July 2016
  • Co-author, “U.S. Regulatory Agencies Adopt Final Regulations to Implement the Volcker Rule: Covered Fund Activities and Investments,” Derivatives: Financial Products Report Vol. 15, No. 8, April 2014
  • Co-author, “Managing Sales by Distressed Private Equity Investors,” National Law Review, October 5, 2009
  • Co-author, "President’s Working Group Committee Reports Weigh in on Side Letters,” Journal of Investment Compliance, Vol. 9, No. 4, 2008

Quoted in:

  • “Opportunity Abounds Despite Q3 Dip For PE Real Estate Deals,” Law360, October 21, 2016
  • “5 Marketing Mistakes That Could Foil A PE Fund,” Law360, September 9, 2016
  • “What Happened To The Loyalty Of Limited Partners?” Law360, June 16, 2016
  • “How PE Firms New To Real Estate Fundraising Can Thrive,” Law360, June 13, 2016
  • “Investment Opt-Out Rights for Hedge Fund Investors: Regulatory Risks, Operational Challenges and Seven Best Practices,” The Hedge Fund Law Report, Vol. 6, No. 43-45, November 2013

Selected Speaking Engagements

  • Moderator, “Navigating Fund Operations & Formation Including Regulatory and Structural Considerations,” Markets Group 8th Annual Private Equity US Forum, New York, NY, May 6-7, 2019
  • Panelist, “Diversification of Fund Manager Strategies,” 20th Annual International Conference on Private Investment Funds, London, England, March 10-12, 2019
  • Panelist, “Key Trends Relating to Private Equity Funds,” 19th Annual International Conference on Private Investment Funds, London, England, March 11-13, 2018
  • Panelist, “General Partner Arrangements: Structure and Terms,” PLI's Eighteenth Annual Private Equity Forum, New York, NY, July 10-11, 2017
  • Panelist, Maples Investment Funds Forum, Grand Cayman, February 23-25, 2017
  • Panelist, “Fee/Promote Structures and Terms in a Fee-Challenged Environment,” IMN's 17th Annual US Real Estate Opportunity & Private Fund Investing Forum, New York, NY, June 13-14, 2016
  • Speaker, “Reorganisations and Leveraging Volcker,” Maples Investment Funds Forum, Grand Cayman, February 5-7, 2015
  • Speaker, “The Search for Capital,” Maples Investment Funds Forum, Grand Cayman, February 6-8, 2014
  • Speaker, “Raising Capital in the Current Environment,” NYSSCPA Private Equity and Venture Capital Conference, New York, NY, October 1, 2013
  • Speaker, IMN's 14th Annual US Real Estate Opportunity & Private Fund Investing Forum, New York, NY, May 29-30, 2013
  • Speaker, “Investing in Intellectual Property: Evaluating Opportunities and Managing Investments,” SALT 2012 Conference, Las Vegas, NV, May 11, 2012
  • Host and Speaker, New York City Bar Association Committee on Private Investment Funds, New York, NY, April 12, 2011



Boston University School of Law, J.D., 2002 New York University, B.A. (magna cum laude), 1999

Bar Admissions

New York