Private equity firms have typically framed themselves as investment vehicles rather than as actual business managers. But in March, Judge Douglas Woodlock of the U.S. District Court forthe District of Massachusetts upended that idea by ruling that one firm should be considered a trade or business. This decision, which leaves Boca Raton, Florida-based Sun Capital Partners on the hook for retiree pensions at a portfolio company, makes general partners liable for such businesses in many of the same ways that CEOs are. It could also affect pension plans at other private equity firm-owned companies.
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机译：私募股权公司通常将自己定位为投资工具，而不是实际的业务经理。但是在3月，美国马萨诸塞州地方法院地方法院法官道格拉斯·伍德洛克（Douglas Woodlock）否决了这一想法，裁定应将一家公司视为一家贸易公司。这项决定使总部位于佛罗里达州博卡拉顿的Sun Capital Partners陷入了投资组合公司退休人员养老金的陷阱，该决定使普通合伙人对这些业务负有与CEO相同的责任。它还可能影响其他私募股权公司拥有的公司的退休金计划。
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