The document discusses the potential risks and liabilities associated with the Access Fund's significant ownership interests in portfolio companies, particularly in relation to ERISA controlled group liability. It references the Sun Capital Cases and the implications for private equity funds. The document also outlines the lack of recourse for Limited Partners against the Underlying Fund, restrictions on transferability or redemption of interests, and the lack of voting rights or participation in the Underlying Fund's management. It highlights the investment concentration risks associated with the Access Fund's sole investment in the Underlying Fund.
doj/DataSet10/EFTA01389712.pdf
{"document_type":"financial","key_locations":["U.S. Federal Court of Appeals for the First Circuit","U.S. District Court for the District of Massachusetts"],"document_subtype":"investment fund disclosure","key_organizations":["Access Fund","Underlying Fund","Glendower"],"reference_numbers":["DB-SDNY-0094076","SDNY_GM_00240260","EFTA01389712"]}