Joshua A. Lichtenstein

Partner

Joshua A. Lichtenstein

Partner

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Josh Lichtenstein is an ERISA and benefits partner in New York who helps asset managers and employee benefit plans to find creative solutions to issues involving the investment of plan assets in a constantly evolving asset management landscape. Josh advises banks, asset managers, private wealth platforms, large pension plans and other institutions on the ERISA issues that have emerged or found prominence in recent years, including:

  • the DOL’s most recent fiduciary rule and the consequences of the elimination of that rule
  • the changing landscape of DOL guidance on plan investments in environmental, social and corporate governance oriented investments and activist funds
  • fiduciary governance best practices and litigation risks (including regarding plan investment menu design)
  • conflicts of interest for credit funds and funds engaging in secondary transactions
  • ERISA restrictions on holding certain securities

Josh is also frequently approached by the press as an authority on these matters.

Experience

Josh partners with hedge, private equity, real estate and infrastructure funds, banks and their private wealth units to help them operate as ERISA fiduciaries and to comply with the prohibited transaction rules and related exemptions, or to structure investments to comply with the venture capital operating company (VCOC) or Real Estate Operating Company (REOC) exemptions or the so called ERISA “25% test.” Josh regularly helps clients to develop new product offerings and to implement practical compliance programs for managing plan assets. He also works with asset managers on all benefits aspects of mergers and acquisitions, executive compensation matters and qualified and nonqualified benefits plans.

Josh was seconded to the ERISA legal group of a leading financial institution from October, 2015-May, 2016, where he assisted in all aspects of ERISA compliance and on formulating approaches to compliance with the DOL’s most recent fiduciary rule.

Presentations

Publications

Presentations

  • Credit Funds: How Managers Can Avoid and Mitigate ERISA Conflicts,” Ropes & Gray Podcast (January 10, 2018) 
  • Panelist, “2017 In Review: The Hedge Funds Industry,” Ropes & Gray Webinar (January 10, 2018)
  • Speaker, “A View From Washington: The First 100 Days,” Ropes & Gray Webinar (April 24, 2017)
  • Panelist, “A View From Washington”, SIFMA Private Funds Roundtable (February 8, 2017)
  • Speaker, Goldman Sachs U.S. Financial Services Conference (2016)
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