"[T]he decision ... suggests that funds may want to consider the following questions in developing their investment structure: [1] Will multiple investment funds hold a single portfolio company investment? [2] Can a new entity be established to administer the joint investment? [3] Do the private equity sponsors maintain common control over the multiple investment funds? [4] Can day-to-day corporate and financial practices operate separately amongst the multiple investment funds? [5] Are the ultimate decision makers in the private equity fund the same in each investment fund?" [Sun Capital Partners III, LP v. New England Teamsters & Trucking Industry Pension Fund, Nos. 16-1376, 19-1002 (1st Cir. Nov. 22, 2019)]   MORE >>