Topic: Withdrawal Liability

Private equity fund sponsors can breathe a sigh of relief last week as the First Circuit Court of ‎Appeals, reversing a district court finding, held that two separate private equity funds sharing a ‎general partner (Sun Capital Partners III and Sun Capital Partners IV) were not jointly and ‎severally liable under the Employee Retirement Income Security Act of 1974, as amended ‎‎(ERISA) for the multiemployer pension withdrawal liability of a portfolio company in which ‎both funds invested.‎