BANKING & FINANCE

Mass. Court Clarifies Private Equity Funds' Exposure to Their Portfolio Companies' ERISA Pension Liabilities

, Daily Report

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In an opinion issued in October 2012, the Federal District Court of Massachusetts provided clarity on the question of whether a private equity fund can be liable for the ERISA pension obligations of its portfolio companies, including multiemployer withdrawal liability and defined benefit pension plan underfunding. This summer, the U.S. Court of Appeals for the First Circuit had a different interpretation. The case was Sun Capital Partners v. New England Teamsters & Trucking Industry Pension Fund.

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