Private Equity Fund Held to Be a "Trade or Business" for Purposes of Unfunded Liability Incurred by a U.S. Portfolio Company

The holding in the case, Sun Capital Partners III, LP v. New England Teamsters & Trucking Industry Pension Fund, 2013 WL 3814984 (1st Cir., July 24, 2013), is of immediate interest to any private equity fund that owns 80% or more of a U.S. portfolio company itself or in combination with one or more affiliated funds and is at all involved in the management of such portfolio company, if that portfolio company has unfunded pension liabilities under a U.S. defined benefit plan, such as "withdrawal liability" under a multiemployer pension plan.

Read More: Private Equity Fund Held to Be a "Trade or Business" for Purposes of Unfunded Liability Incurred by a U.S. Portfolio Company


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