ERISA Fund
A fund that consists of, or is deemed to hold, plan assets and operates as a plan asset vehicle that is subject to Title I of ERISA and/or Section 4975 of the Internal Revenue Code (IRC); in the context of a subscription-backed credit facility, borrowers and lenders may have concerns regarding ERISA funds and potential prohibited transactions with lenders that may subject the fund and the lender to tax penalties and/or other fines.