Marc R. Lieberman

Top rated real estate attorney in Scottsdale, Arizona

Kutak Rock LLP
Marc R. Lieberman
Kutak Rock LLP

Practice Areas: Real estate, Securities & corporate finance; view more

Licensed in Arizona since: 1983

Education: DePaul University College of Law

Selected to Super Lawyers: 2009 - 2023

Kutak Rock LLP

8601 North Scottsdale Road
Suite 300
Scottsdale, AZ 85253 Visit website


Marc R. Lieberman, Chair of Kutak Rock, LLP's Institutional Investments group, serves as investment counsel to numerous institutional investors across the country. Some of his notable clients include the Indiana Public Retirement System, the Massachusetts Pension Reserves Investment Management Board, the Chicago Teachers Pension Fund, the Arkansas Teacher Retirement System, the Texas Municipal Retirement System, and the Los Angeles Fire and Police  Pension Plan. He also serves as fiduciary counsel to three Los Angeles pension systems. 

In 2016, Kutak Rock was named Best Firm in the United States in for Alternative Investments by Corporate America Finance Magazine. 

A Board Certified Real Estate Specialist (State Bar of Arizona Board of Legal Specialization), Mr. Lieberman has supervised the documentation of over $10 billion in private equity, venture capital and hedge transactions involving numerous investment spaces, including real assets, real estate, risk parity, GTAA, beta overlay and portable alpha, among many others. He and his team regularly document investment management agreements for separate accounts, as well as co-investments and secondary acquisitions and sales.  Mr. Lieberman regularly drafts investment, ethics, fiduciary and governance policies, and has documented numerous custody, securities lending, prime brokerage and other securities agreements.

Mr. Lieberman also has experience handling appellate cases, and two of his case arguments have been televised. Several periodicals have published a number of his legal articles, and he also authored a book, a novel and has lectured extensively. In 2017, he secured a $200 million defense verdict following a 27 day trial.

Mr. Lieberman previously chaired the Appellate Practice Section of the State Bar of Arizona as well as the Editorial Board of Arizona Attorney Magazine. He is a retired member of the Arizona Supreme Court Committee on Character and Fitness, having previously served as a judge pro tempore for the Arizona Court of Appeals and as a commissioner on the Arizona Commission on Judicial Performance Review. He has also served as past Chair of the Anti-Defamation League. His peers have honored him with the top rating of AV-Preeminent* in Martindale-Hubbell, as well as Best Lawyers in America, as a testament to his integrity and professionalism, and his steadfast dedication to his community garnered him the Arizona Attorney General's Civil Rights Award and the 2020 Scottsdale Bar Association Award of Excellence.

*AV-Preeminent and BV-Distinguished are certification marks of Reed Elsevier Properties Inc., used in accordance with the Martindale-Hubbell certification procedures, standards and policies. Martindale-Hubbell is the facilitator of a peer review rating process. Ratings reflect the confidential opinions of members of the Bar and the judiciary. Martindale-Hubbell ratings fall into wo categories – legal ability and general ethical standards.

Practice areas

Real estate: business, Securities & corporate finance

Focus areas

Securities law

  • 50% Real estate: business
  • 50% Securities & corporate finance

First Admitted: 1983, Arizona

Professional Webpage:

  • Over the past five years, Mr. Lieberman and his team have documented approximately $10 billion worth of private equity and hedge transactions for public retirement systems, including those acquiring public or private companies (both domestically and outside the U.S.) in the following businesses: (1) Biomedical and Technology, (2) Timber (Some with Conservation Components), (3) Real Estate, (4) Information Technology, Convergence and Life Sciences, (5) Energyo Non-cyclical, Under Managed, Middle Markets., (6) Resort and Hospitality, Infrastructure, LBO, CLO, (7) Discounted CMO, CDOs, RMBS, (8) GTAA, (9) portable alpha and (10) commodities. These partnerships have involved early-, mid- and late-stage targets, some of which have been made through small business investment companies ("SBIC's"), as authorized by the U.S. Small Business Administration. Some of the partnerships have also involved mezzanine financing. Mr. Lieberman has also negotiated a host of investment management and separate account agreements, including derivative overlay, custody, securities lending, portable alpha and other investment agreements.
Special Licenses/Certifications:
  • Real Estate Law, Arizona Board of Legal Specialization
Bar/Professional Activity:
  • Past Chair, Appellate Section, State Bar of Arizona
  • Faculty Member, Professionalism Course, State Bar of Arizona
  • Arizona, 1983
  • Texas, 2011
  • Member, Real Property Section, State Bar of Arizona
  • Master and Past President, Thurgood Marshall Inn of Court
  • Colorado, 2011
  • Retired Member, Character and Fitness Committee, Supreme Court of Arizona
  • Judge Pro Tempore, Arizona Court of Appeals, 1995 - 1998
  • Past President, Scottsdale Executive Association
  • District of Columbia, 1985
Pro bono/Community Service:
  • Past President, Biltmore Kiwanis Club
  • Member, Arizona Supreme Court Committee on Character and Fitness, 2019
  • Former Faculty, Arizona Appellate Practice Institute
  • Chair, Civil Rights Committee, Arizona Chapter, 1994 - 1998
  • Former member and Past Chair, Editorial Board, Arizona Attorney Magazine
  • Chair, Anti Defamation League, Arizona Regional Board, 1999 - 2000
  • Past Chair, Editorial Board of Arizona Attorney Magazine
  • Former member, Arizona Commission on Judicial Performance
  • Chair, Arizona Hate Crimes Task Force, 1996 - 1998
  • Member, National Association of Public Pension Attorneys
Other Outstanding Achievements:
  • Author, Sign of the Anasazi (Emerald Book Company) May, 2009
Educational Background:
  • Indiana University, A.B., National Winner, Moeller Prize for excellence in journalism, 1979, 1980
  • DePaul University College of Law, J.D., Notes Editor, DePaul Law Review, 1983
  • DBT Yuma, LLC et al. v. Yuma County Airport Authority, Superior Court of Yuma County, Arizona Cause S1400CV2010-1309 (Defense verdict on $50 million plus claim with $4.9 million award to defendant) (on appeal), 2018
Scholarly Lectures/Writings:
  • A description of the ideal MFN for private equity investment, Author, The Perfect MFN, Law 360, Securities, 2019
  • Model Uniform Rules of Local Board Procedure for the Public Safety Personnel Retirement System
  • "Legal Threats And Challenges Facing Public Pension Systems," Phoenix, Arizona, February 2012
  • "Issues In Securing New Investment Management," Las Vegas, Nevada, April 2011
  • "Trustees' Duties Upon Discovery Possible Fraud," Las Vegas, Nevada, February 2006
  • "Understanding Your Fiduciary Responsibility," Phoenix, Arizona, January 2006
  • "Third Annual Supreme Court Review," State Bar of Arizona, April 2005
  • "2004 Appellate Highlights," Working With the Arizona Court of Appeals, November 2004
  • "Land Use Law: Development, Regulation and Environmental Issues," CLE International, October 1997
  • "The Reach of Impact Fees," National Conference, League of Cities, September 1997
  • "Land Use Law: Development, Regulation and Environmental Issues," CLE International, December 1996
  • "The Ethics of Life, Death, Care and Creation: A Roundtable of Bio Medical Ethical Conundrums," Seminar Chair, March 1991
  • "American Companies Abroad-Complying With The New UK Bribery Act," Arizona Attorney, March, 2012
  • "The Deal is in Delaware-Why Should I Demand Compliance with the UK Bribery Act?," NAPPA Report, February 2012
  • "The Inns and Outs of Appellate Special Actions," State Bar of Arizona Seminar on "Working with the Arizona Court of Appeals", November 2006
  • "Need Business? Look Over Your Shoulder," Attorney at Law Magazine, January 2012
  • "Want to Preclude Municipal Bankruptcies Filed to Discharge Pension Obligations?  Amend Your Bankruptcy Authroization Statute, Pronto," NAPPA Report (April 2015)
  • "A UK Act's Impact on US Investors," Pensions & Investments Magazine, December 26, 2011
  • "Modern Pension Fund Diversification," Journal of Asset Management (July 2014)
  • "Key Issues in Securing Investment Managers," Benefits Magazine, September 2011
  • "What Me Worry"  What Dontributions Qualify as Proceeds of Municipal Securities' for Purposes of the Municipal Advisors Rule," Benefits Magazina (Web Exclusive) (October 2014)
  • "The Forgotten Founder," Arizona Attorney, July 2011
  • "Impact of GASB's New Pension Rules on  Government Bond Ratings,"  Pensions & Investments (April 2014)
  • "The Necessity Of Investigating Investment Management," NAPPA Report, February, 2010
  • Cities' Pension Obligations Get More Public Exposure Under New Rules," Arizona Capital  Times (January 2014)
  • "Social Security: Finding Ways to Fill the Gap," East Valley/Scottsdale Tribune, August 2005
  • "From Saw's Ear to Silk Purse:  Transformation of the Arizona Public Safety Pesonnel Retirement System," Benefits Magazine (June 2014)
  • "When Trustees Have a Duty to Delegate Investment Management," NAPPA Report (October 2015)
  • "The Jig Is Up! The Death of Gamesmanship," Arizona Attorney, March 2005
  • "Risk Management for Return Enhancement," Risk Magazine (February 2016)
  • "The $5,000 Complaint: Why the Rule in Creasy's Case May Signal Adoption of UPL Legislation," Arizona Attorney, June 2001
  • "The Enemy Within: Detecting and Fighting Administrator Fraud," Arizona Attorney, January 2001
  • "Learned Hand for a Day: The Rewards of Division One's Pro-Tem Program," Arizona Attorney, June, 1997
  • "Your Rights as a Consumer: Legal Tips for Savvy Purchases of Goods, Services and Credit," Career Press, 2d Ed
  • "The Case for Hate Crime Legislation," Arizona Attorney, March 1996
  • "EeK! Run for Your Lives! It's the Equity Suckers! Don't Get Bitten by This Latest Bankruptcy Beast," Arizona Attorney, November 1993
  • "The Refinancing Trap: The Hidden Peril of Refinancing Home Mortgage Debt," Arizona Attorney, May 1993
  • "COLA Wars: The Ongoing Battle to Eliminate Cost-Of-Living Adjustments to the Pensions of Arizona Retirees," Arizona Attorney, June 1991
  • "The Five Bases of Third - Party Lender Liability: Let the Lender Beware," Arizona Attorney, February 1991
  • "Overtime Compensation v Pension Benefits: Will Arizona Public Employees Be Denied One to Achieve the Other?," State Bar of Arizona CLE Monograph, 1986
  • "The Happy Demise of Constructive Incorporation," Arizona Bar Journal, October 1986
  • "Illinois Multi-State Plaintiff Class Actions: Abrogation of Jurisdictional Limitations on State Sovereignty," 31 DePaul Law Review 471, 1982
  • Model Uniform Rules of Local Board Procedure for the Corrections Officer Retirement Plan
Representative Clients:
  • Chicago Teachers Pension Fund, 2019
  • Indiana Public Retirement System, 2018
  • Elected Officials' Retirement Plan
  • Texas Municipal Retirement System
  • Illinois Student Assistance Commission
  • Virginia Retirement System
  • Massachusetts PRIM
  • Public Safety Personnel Retirement System
  • Arkansas Teachers Retirement System
  • Navajo Nation
  • Correction Officers Retirement Plan
  • City of Omaha Police and Fire Pension Plan
  • Illinois Prepaid Tuition Trust Fund
  • Los Angeles Fire and Police Plan
  • Mr. Lieberman was the 2020 recipient of the Scottsdale Bar Association's Award of Excellence for his overall contribution to the Scottsdale legal community over many years, Scottsdale Bar Association Award of Excellence, Scottsdale Bar Association, 2020
  • Arizona Attorney General's Civil Rights Award, 1997
  • National Winner, Moeller Prize, 1979
  • Best Of The Bar, Ranking Arizona Magazine, 2010  - Present
  • Central Arizona Hate Crimes Advisory Board Award, 1997
  • Fellow, Arizona Foundation for Legal Services and Education
  • "AV" Rating, Preeminent, 5 out of 5, Martindale - Hubbell®
  • ADL Herb Brooks Community Leadership Award, 1996
Industry Groups:
  • Private Equtiy
  • Public Pension Alternative Investments
  • Venture Capital

Office location for Marc R. Lieberman

8601 North Scottsdale Road
Suite 300
Scottsdale, AZ 85253

Phone: 480-429-7103


15 Years Super Lawyers
  • Super Lawyers: 2009 - 2023

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