Alternative Investments in ERISA Retirement Plans: Mitigating Liability Risks for Hedge and Private Equity Funds and Pension Plan Fiduciaries

Exercising Due Diligence to Avoid Investment Landmines for Institutional Investors and Fund Managers

Recording of a 90-minute premium CLE webinar with Q&A

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Conducted on Wednesday, May 24, 2017

Recorded event now available

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Course Materials

This CLE course will provide ERISA and asset management counsel with a review of effective due diligence practices for institutional investors from both a legal and economic perspective. The panel will offer risk mitigation best practices at a time of increased government scrutiny and lawsuits by plan participants.


The DOL's and SEC's fee disclosure rules and heightened attention on compliance and valuation means corporate pension plans are subject to continued scrutiny. Plans that invest in alternatives must focus on properly vetting asset managers more than ever—or risk claims of poor governance and excessive risk-taking. Understanding asset managers' risk vulnerabilities is an essential element of decision-making by any retirement fund with existing or prospective limited partnership interests.

Asset managers are likewise urged to pay close attention to the needs of ERISA fiduciaries for both business development and risk management purposes. Lawsuits and enforcement actions against asset managers are on the rise. Counsel to hedge fund and private equity fund managers must fully grasp and guide clients on full compliance with the duties of ERISA fiduciaries to plan participants.

Listen as our ERISA-experienced panel of benefits counsel and governance professionals provides a guide to the legal and investment landmines that can destroy portfolio values and expose institutional investors and fund managers to liability risks. The panel will review new ERISA considerations for 2017 and outline best practices for implementing effective due diligence procedures.



  1. ERISA fiduciary duties for institutional investors
    1. Hedge funds and private equity funds compared to traditional investments
    2. Regulatory developments
      1. Fee disclosure
      2. Compliance
      3. Valuation
  2. Developments in private litigation involving pension plan fiduciaries and alternative fund managers
  3. Best practices for developing due diligence plans


The panel will review these and other key issues:

  • What are the regulatory concerns for ERISA pension plans that allocate assets to hedge funds and private equity funds?
  • What are the potential consequences for service providers that fail to comply with fee, valuation and service provider due diligence regulatory and industry guidelines?
  • What can counsel to pension plans and asset managers learn from recent private fund suits relating to collateral, risk-taking, pricing, insider trading and much more?


Mangiero, Susan
Dr. Susan Mangiero

Managing Director
Fiduciary Leadership

Dr. Mangiero a CFA® charterholder, certified Financial Risk Manager, Accredited Investment Fiduciary Analyst®,...  |  Read More

Santos, Tiffany
Tiffany N. Santos

Trucker Huss

Ms. Santos counsels employers and multiemployer trusts on all aspects of their employee benefit plans, including...  |  Read More

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