The Capitol Building at Dusk

Jerry Schlichter Gives Input on Impact of Private Equity Firms Developing Retirement Investment Products

On April 10, 2023, the Capitol Forum published an article incorporating Jerry Schlichter’s insight on the impact of private equity firms developing retirement investment products.

Referencing Schlichter Bogard & Denton’s recent Northwestern University U.S. Supreme Court victory, which held (among other things) that “plan fiduciaries have a duty under ERISA to continually monitor their menu of investment options and remove any that are imprudent,” the article relays Jerry’s conclusion that “including high-priced, illiquid, long-term assets in these funds is like putting a square peg in a round hole. Private equity firms may come up with some formula for putting out daily valuations . . . but sophisticated investors will know those cannot be relief upon while the average investor may not.”

“’I don’t know how they’re going to be able to provide daily valuation,’ said [Jerry]. ‘The inherent structure is a long-term, illiquid structure.’”

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