Category Archives: CalPERS

CalPERS Board, General Counsel Illegally Silence Naked Capitalism Even as We Try to Help

CalPERS’ general counsel lied obviously and casually to the board, a sign of a deeply diseased institutional culture.

CalPERS’ Tainted Fiduciary Counsel Robert Klausner Departs After NC Publicizes His Dubious History

CalPERS’ tainted fiduciary counsel, Robert Klausner, is leaving. But CalPERS’ handling of his departures says it hasn’t learned its lesson.

Bill Gross Chides CalPERS for Its 7.5% Returns Assumption; Illinois Set to Lower Target

More and more experts are taking CalPERS and other public pension funds to task over their barmy return assumptions.

CalPERS Admits to Guilt in Misleading Beneficiaries and Taxpayers About Its Returns by Changing Report After Being Called Out

CalPERS tries to pull a fast one in its claims about its long-term return, and only digs its hole deeper when caught out.

Meet CalPERS Board Member Bill Slaton, Who Puts Kow-Towing to Private Equity Over Beneficiaries and California Taxpayers

CalPERS Investment Committee vice chairman Bill Slaton exemplifies many of the pathologies of the board.

After Supporting Treasurer Chiang’s Private Equity Transparency Bill in Public, CalPERS Gutted It Behind the Scenes

Yet more evidence of CalPERS’ chicanery on behalf of the private equity industry.

CalPERS Reported That It Made Less in Private Equity Than Its General Partners Did (Updated: As Did CalSTRS)

CalPERS clearly made less on its private equity investments last year than its so-called partners did.

CalPERS Announces Preliminary Returns of 0.6% When Target is 7.5% (Updated)

CalPERS posts crappy results and its disclosure isn’t too hot either.

How Treasurer Chiang’s Designee Grant Boyken Duped CalPERS’ Board to the Detriment of Taxpayers and Beneficiaries

How California Treasurer John Chiang’s deputy, Grant Bokyen, snookered CalPERS’ board to facilitate gutting a private equity reform bill.

OC Register: CalPERS Expected to Show Multi-Billion Loss for Fiscal Year Ended June 30, 2016

CalPERS at best laid a big goose egg for its 2015-2016 results. It remains in denial about its return prospects, to the detriment of beneficiaries and taxpayers.

CalPERS-TH Lee Row Over Private Equity Fee Abuses Demonstrates Failure of SEC Oversight

CalPERS’ inability to get TH Lee to disgorge ill-gotten fees shows how hopelessly one-sided private equity investing really is.

CalPERS Uses Unqualified “Expert” to Validate Its London-Whale-Style Deficient Risk Management

CalPERS tells its board that the very same lax risk management oversight structure that led to the London Whale fiasco is “best practice” when it clearly isn’t.

CalPERS Invests in Toll Road Even Though Those Deals Consistently Lose Money

CalPERS ventures into the looting of local populations via investing into a famous toll road-gone-bad deal that has been restructured.

CalPERS’ Fiduciary Counsel Robert Klausner, Calls CalPERS’ Divestiture of Tobacco Stocks a Violation of Fiduciary Duty

CalPERS’ tainted fiduciary counsel, Robert Klaunser, effectively told the Vermont public pension fund that CalPERS is violating its fiduciary duty.

How CalPERS Was Taken By Private Equity Firm Silver Lake and Tried to Hide That (A Tale of Two Spreadsheets)

CalPERS told two very different stories about how well its investment in Silver Lake, the general partner, fared. Which should we believe?