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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