diff --git a/mlir/lib/Transforms/BufferPlacement.cpp b/mlir/lib/Transforms/BufferPlacement.cpp
--- a/mlir/lib/Transforms/BufferPlacement.cpp
+++ b/mlir/lib/Transforms/BufferPlacement.cpp
@@ -187,13 +187,23 @@
 
   /// Finds all associated dealloc nodes for the alloc nodes using alias
   /// information.
-  DeallocSetT findAssociatedDeallocs(AllocOp alloc) const {
+  DeallocSetT findAssociatedDeallocs(OpResult allocResult) const {
     DeallocSetT result;
-    auto possibleValues = aliases.resolve(alloc);
+    auto possibleValues = aliases.resolve(allocResult);
     for (Value alias : possibleValues)
-      for (Operation *user : alias.getUsers()) {
-        if (isa<DeallocOp>(user))
-          result.insert(user);
+      for (Operation *op : alias.getUsers()) {
+        // Check for an existing memory effect interface.
+        auto effectInstance = dyn_cast<MemoryEffectOpInterface>(op);
+        if (!effectInstance)
+          continue;
+        // Check whether the associated value will be freed using the current
+        // operation.
+        SmallVector<MemoryEffects::EffectInstance, 2> effects;
+        effectInstance.getEffectsOnValue(alias, effects);
+        if (llvm::any_of(effects, [=](MemoryEffects::EffectInstance &it) {
+              return isa<MemoryEffects::Free>(it.getEffect());
+            }))
+          result.insert(op);
       }
     return result;
   }
@@ -328,8 +338,6 @@
 
 /// The actual buffer placement pass that moves alloc and dealloc nodes into
 /// the right positions. It uses the algorithm described at the top of the file.
-// TODO: create a templated version that allows to match dialect-specific
-// alloc/dealloc nodes and to insert dialect-specific dealloc node.
 struct BufferPlacementPass
     : mlir::PassWrapper<BufferPlacementPass, FunctionPass> {
   void runOnFunction() override {
@@ -337,42 +345,58 @@
     auto &analysis = getAnalysis<BufferPlacementAnalysis>();
 
     // Compute an initial placement of all nodes.
-    llvm::SmallDenseMap<Value, BufferPlacementPositions, 16> placements;
-    getFunction().walk([&](AllocOp alloc) {
-      placements[alloc] = analysis.computeAllocAndDeallocPositions(
-          alloc.getOperation()->getResult(0));
-      return WalkResult::advance();
+    llvm::SmallVector<std::pair<OpResult, BufferPlacementPositions>, 16>
+        placements;
+    getFunction().walk([&](MemoryEffectOpInterface op) {
+      // Try to find a single allocation result.
+      SmallVector<MemoryEffects::EffectInstance, 2> effects;
+      op.getEffects(effects);
+
+      SmallVector<MemoryEffects::EffectInstance, 2> allocateResultEffects;
+      llvm::copy_if(effects, std::back_inserter(allocateResultEffects),
+                    [=](MemoryEffects::EffectInstance &it) {
+                      Value value = it.getValue();
+                      return isa<MemoryEffects::Allocate>(it.getEffect()) &&
+                             value && value.isa<OpResult>();
+                    });
+      // If there is one result only, we will be able to move the allocation and
+      // (possibly existing) deallocation ops.
+      if (allocateResultEffects.size() == 1) {
+        // Insert allocation result.
+        auto allocResult = allocateResultEffects[0].getValue().cast<OpResult>();
+        placements.emplace_back(
+            allocResult, analysis.computeAllocAndDeallocPositions(allocResult));
+      }
     });
 
-    // Move alloc (and dealloc - if any) nodes into the right places
-    // and insert dealloc nodes if necessary.
-    getFunction().walk([&](AllocOp alloc) {
+    // Move alloc (and dealloc - if any) nodes into the right places and insert
+    // dealloc nodes if necessary.
+    for (auto &entry : placements) {
       // Find already associated dealloc nodes.
+      OpResult alloc = entry.first;
       auto deallocs = analysis.findAssociatedDeallocs(alloc);
       if (deallocs.size() > 1) {
         emitError(alloc.getLoc(),
-                  "Not supported number of associated dealloc operations");
-        return WalkResult::interrupt();
+                  "not supported number of associated dealloc operations");
+        return;
       }
 
       // Move alloc node to the right place.
-      BufferPlacementPositions &positions = placements[alloc];
-      Operation *allocOperation = alloc.getOperation();
+      BufferPlacementPositions &positions = entry.second;
+      Operation *allocOperation = alloc.getOwner();
       allocOperation->moveBefore(positions.getAllocPosition());
 
       // If there is an existing dealloc, move it to the right place.
+      Operation *nextOp = positions.getDeallocPosition()->getNextNode();
+      assert(nextOp && "Invalid Dealloc operation position");
       if (deallocs.size()) {
-        Operation *nextOp = positions.getDeallocPosition()->getNextNode();
-        assert(nextOp && "Invalid Dealloc operation position");
         (*deallocs.begin())->moveBefore(nextOp);
       } else {
         // If there is no dealloc node, insert one in the right place.
-        OpBuilder builder(alloc);
-        builder.setInsertionPointAfter(positions.getDeallocPosition());
+        OpBuilder builder(nextOp);
         builder.create<DeallocOp>(allocOperation->getLoc(), alloc);
       }
-      return WalkResult::advance();
-    });
+    }
   };
 };