Josh Lichtenstein is an ERISA and benefits partner in New York who heads the firm’s ERISA fiduciary practice. Josh focuses on finding creative and practical solutions to issues involving the investment of plan assets in a constantly evolving asset management landscape. He 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 evolving fiduciary standards and definitions 
  • the changing landscape of DOL guidance on plan investments and environmental, social and corporate governance (ESG) considerations
  • fiduciary governance best practices and litigation risks (including plan investment menu design)
  • developing new products to provide 401(k) and retail investors with exposure to private equity and alternative investments
  • representing and advising clients in connection with DOL examinations 
  • 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.


Josh partners with hedge, private equity, real estate and infrastructure funds, banks and their private wealth units to help them achieve their business objectives while operating as ERISA fiduciaries subject to 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.

Areas of Practice