Category Archives: Investment management

CalPERS Used Sleight of Hand, Accounting Tricks, to Make False “There is No Alternative” Claim for Private Equity

CalPERS staff and outside experts went to considerable lengths distort data and abuse analytical methods to make the case that only private equity could offer the allegedly superior returns needed to meet CalPERS’ targets. The fact that CalPERS did not make an honest case for private equity suggests that no honest case could be made.