Simpson Thacher & Bartlett

International Top 30 position: 22
International 50 position (Asia-Pacific): 37

Recent developments regarding potential pension liabilities for private equity funds

This Alert summarises recent rulings interpreting when private equity funds could have exposure for the qualified pension liabilities of a portfolio company. A recent case in the US District of Massachusetts concluded that a private equity fund is not a “trade or business” for purposes of determining “controlled group” joint and several liability under the Employee Retirement Income Security Act of 1974 (ERISA) and, as a result, that the fund was not liable for the pension  obligations of its portfolio company.

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1 Ropemaker Street

Global turnover 2011: $963.5m
Global lawyers: 820
Jurisdiction: US
No. of offices: 5
No. of qualified lawyers: 66 (International 50)