News & Analysis as of

Private Equity Pensions

Goodwin

The King’s Speech: Reinforcing The Retailisation of Private Funds

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The Pension Schemes Bill announced in the King’s Speech on 17 July builds on the UK Government’s drive to encourage defined contribution (DC) pension investment in long-term illiquid investments such as private equity,...more

A&O Shearman

Pensions: what's new this week - 29 January 2024

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Welcome to your weekly update from the Allen & Overy Pensions team, covering all the latest legal and regulatory developments in the world of workplace pensions. This week we cover the following topics: TPR guidance on...more

Proskauer Rose LLP

UK Tax Round Up - November 2023

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Welcome to November’s edition of the UK Tax Round Up. This month has seen the Chancellor’s Autumn Statement as well as an interesting confirmation from the Court of Appeal on the scope of “arrangements” for capital gains tax...more

King & Spalding

Fraudulent Transfer Claims Against Investors Survive Motions to Dismiss

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On October 12, 2022, the U.S. Bankruptcy Court for the Southern District of New York denied motions to dismiss fraudulent transfer claims asserted against certain investors in Tops Holding II Corporation. In 2007, a group of...more

Seward & Kissel LLP

[Event] Getting a Deal Done: M&A Opportunities for Asset and Wealth Managers - October 26th, New York, NY

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What to expect? The first half of 2022 marked another banner period for asset and wealth management deals, with deal volume up 11% compared to the same period in 2021, according to PWC. And the market for buying and selling...more

Latham & Watkins LLP

Pension Consolidator Vehicles - A New Solution for PE

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Pension consolidators are emerging as an effective solution to manage defined benefit pension plan risk. As inflation soars and market uncertainty creates additional volatility for UK defined benefit pension (DB) plans,...more

Jackson Lewis P.C.

Private Equity Investments In 401(K) Plans – The DOL Says Not So Fast

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Hot button ERISA fiduciary issues remain a focus for investment committees of 401(k) plans in 2022. From “excessive” fee litigation – including litigation over the duty to monitor the fees charged by various mutual funds...more

BCLP

FCA finalises its rulebook for the new UK authorised open-ended fund to invest in illiquid assets: the Long Term Asset Fund (LTAF)

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The FCA’s Policy Statement published on 25 October 2021 provides feedback to its May 2021 consultation (the Consultation) and sets out the final rules and guidance for the new authorised open-ended fund regime to invest in...more

Dickinson Wright

PE Funds Are Not Part of Controlled Group; What About Your Company?

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Earlier this month, the U.S. Supreme Court denied a request to review the First Circuit Court of Appeals decision in the Sun Capital Partners III, LP v. New England Teamsters and Trucking Industry Pension Fund case, thereby...more

Stinson LLP

DOL Provides its View on Private Equity Investment Exposure in Defined Contribution Plans

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In a new information letter, the U.S. Department of Labor (DOL) concludes offering professionally managed asset allocation funds, which include a private equity component as an investment option in an individual account plan...more

Fox Rothschild LLP

Private Equity And Withdrawal Liability: Lessons From Sun Capital

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It is not uncommon for private equity funds to reconsider the desirability of a prospect when they learn that the company contributes to an underfunded multiemployer defined benefit pension fund. But because of the hesitation...more

Nelson Mullins Riley & Scarborough LLP

Sun Capital Wins - But All Private Equity Funds May Not

Just before Thanksgiving, the First Circuit Court of Appeals handed a “win” to Sun Capital’s private equity funds which had been battling against multiemployer pension withdrawal liability since the 2008 bankruptcy of the...more

Seyfarth Shaw LLP

No Partnership, No Common Control, No Withdrawal Liability: Private Equity Funds Not Liable for Portfolio Company’s Multiemployer...

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Seyfarth Synopsis: The First Circuit reversed a district court’s ruling holding two Sun Capital private equity (PE) funds responsible for the withdrawal liability incurred by a bankrupt portfolio company. ...more

Robins Kaplan LLP

Financial Daily Dose 10.10.2019 | Top Story: US/China Trade Talks Resume Even as Tensions Grow

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Senior negotiators from the U.S. and China will officially resume trade negotiations today, “with higher tariffs looming if [they] fail to break a five-month stalemate.” The U.S.’s moves this week to blacklist 28 Chinese tech...more

Bennett Jones LLP

Due North: U.S. Private Equity Sets Sights On Canada - Infographic

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The outlook for private equity investment in Canada is promising. The country has become an attractive destination for foreign investors, and the total value of PE deals continues to reach new heights. A strong Canadian...more

Bennett Jones LLP

Due North: U.S. Private Equity Sets Sights on Canada

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The outlook for private equity investment in Canada is promising. The country has become an attractive destination for foreign investors, and the total value of PE deals continues to reach new heights. A strong Canadian...more

Latham & Watkins LLP

Pensions Hazard for PE Buyers on Carve-Out Deals

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Corporate carve-outs have become increasingly popular in recent years, as buyout firms scour the market for primary deals. In an environment in which the UK Pensions Regulator (the Regulator) is becoming more active, in our...more

Hogan Lovells

Pension Alert - April 2017

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PENSION SCHEME INVESTMENT - New investment could have faced trustees with unlimited liability - Our investment funds team recently identified some highly detrimental terms, including potential unlimited liability, in...more

Mintz

Mass. District Court Holds Private Equity Funds Liable for a Portfolio Entity’s Pension Benefits

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The Private Equity Practice has been getting an increasing number of calls related to the decision made earlier this spring (Sun Capital Partners III, LP v. New Eng. Teamsters & Trucking Indus. Pension Fund, 2016 US Dist....more

Latham & Watkins LLP

Pension Fund Health-Check Required

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The recent furore over the collapse of high street retailer BHS has caused fierce debate over whether companies, or their ultimate owners, are responsible for the upkeep of a pension plan. For private equity, the debate has...more

Bracewell LLP

Private Equity Fund Charged by SEC with Violation of the Pay-to-Play Rules for Investment Advisors

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The Securities and Exchange Commission ("SEC") recently announced that it had charged TL Ventures, a Philadelphia-area private equity firm (the "Firm") with the first ever case involving a violation of the "pay-to-play...more

Ballard Spahr LLP

SEC Announces First Investment Adviser ‘Pay-to-Play’ Enforcement Action

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The U.S. Securities and Exchange Commission (SEC) announced its first enforcement action under "pay-to-play" rules for investment advisers since those rules were adopted nearly four years ago. TL Ventures Inc., a...more

Akin Gump Strauss Hauer & Feld LLP

U.S. Supreme Court Round-Up: Sun Capital Cert Denied, Omnicare Cert Granted and Whistle-Blower Protection Extended

As first discussed in July 2013 the First Circuit Court of Appeals held in Sun Capital Partners III, LP, et al. v. New England Teamsters & Trucking Industry Pension Fund that a Sun Capital Partners private equity fund (Sun...more

Allen Matkins

Court Rules Private Fund Data Is Not A Public Record

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Private equity and venture capital funds like public pension fund money but they don’t necessarily like the consequences of having the government as an investor. As noted in this post, this was illustrated by Superior Court...more

Brownstein Hyatt Farber Schreck

Recent Decision of the U.S. Court of Appeals for the First Circuit May Have Significant Implications for Private Equity Funds

In late July of this year, the U.S. Court of Appeals for the First Circuit reversed a Massachusetts District Court, and in a decision of first impression, held that one of Sun Capital Partner’s private equity funds was liable...more

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