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Sun Capital Partners was dealt a harsh blow by the United States Court of Appeals for the First Circuit in a recent decision where the court found that this private equity fund could be held liable for the pension withdrawal liability of its portfolio companies.    The court essentially espoused the view of the Pension Benefit Guaranty Corporation (PBGC), holding the fund jointly and severally liable for the unfunded pension obligations of its portfolio company based…
            The debate over the taxation of “carried interest” has been percolating for years and the release of Mitt Romney’s personal tax returns in connection  with his presidential campaign  generated more wide-spread interest in the subject.  And while the relatively preferential tax rates that fund managers pay on these investment profits survived the “fiscal cliff” budget deal at the beginning of 2013, interest in this topic is as strong as ever.     What is Carried Interest?…