This is the fourth article in our five-part serialization of a treatise chapter by Dechert LLP partner Andrew Oringer. The chapter details the ERISA provisions of primary relevance to private fund managers and references relevant authority. This article continues the discussion of prohibited transactions initiated in part three. In particular, this article addresses self-dealing issues relating to fee structures, certain special issues for plans of financial institutions, services for multiple funds, payment or reimbursement of expenses, employer securities and employer real property and certain miscellaneous exceptions (including foreign exchange and cross trading). The third article in the series focused on prohibited transactions, qualified professional asset managers, the “service provider” exemption and the exemption for compensation for services. The second article in the series covered fiduciary duty considerations, including delegation, allocation of investment opportunities, varied interests of fund investors, indemnification and insurance, investments in portfolio funds, enforcement-related matters and diversification requirements. The first article in the series discussed the “plan assets” rules and rules for the delegation and allocation of fiduciary responsibility.