This document discusses the potential risks and liabilities associated with the Access Fund's ownership interests in portfolio companies, particularly in relation to ERISA controlled group liability. It references the 2013 Sun Capital Case and the 2016 U.S. District Court ruling on partnership-in-fact. The document also outlines the lack of recourse for Limited Partners against the Underlying Fund, the illiquidity of investments, and the lack of voting rights or participation in the Underlying Fund's management. Additionally, it highlights investment concentration risks.
doj/DataSet10/EFTA01394541.pdf
{"key_people":["Lawrence Hirsch"],"document_type":"correspondence","key_locations":["First Circuit","District of Massachusetts"],"document_subtype":"memo","key_organizations":["Access Fund","U.S. Federal Court of Appeals for the First Circuit","U.S. District Court for the District of Massachusetts","Glendower"]}