Category Archives: CalPERS

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?

California Treasurer and CalPERS Board Member John Chiang Introduces Private Equity Transparency Bill

California Treasurer John Chiang’s private equity transparency bill has been launched. How does it stack up?

More Evidence That CalPERS Board (and Staff?) Does Not Understand Finance

Another foot-in-mouth moment at CalPERS, this time by the president of the board, Robert Feckner.

CalPERS Takes on Risk Where Federal Government Fears to Tread: Provides Liquidity to a Derivatives Central Counterparty on the Cheap

CalPERS has engaged in one of the most bone-headed moves ever, the financial equivalent of picking up pennies before a steamroller.

CalPERS, CalSTRS Board Member Betty Yee Asks the SEC to Rescue Public Pension Funds From Themselves

California State Controller Betty Yee makes some underwhelming private equity reform proposals.

CalPERS CEO Anne Stausboll to Retire June 30

CalPERS’ CEO Anne Stausboll unexpectedly announced her plan to retire. The most probable explanation does not reflect well on her.

Why is CalPERS Understating Its Cost of Investing in Private Equity by Roughly $1.6 Billion, Meaning 80%?

CalPERS keeps putting its hand in the buzzsaw by presenting misleading or outright false information about private equity fees and costs.

The Twelve Days of CalPERS

Will “The Twelve Days of CalPERS ” become a new holiday classic?

CalPERS: Stockholm Syndrome and Cowardice on Private Equity Fee Disclosure

I have wanted to leave CalPERS alone. Really. Truly. But they keep asking for attention in the worst possible way.

We Won a Fight Against CalPERS Over Its Plan to Ignore Private Equity Risk

A Los Angeles Times headline recapping a board meeting Monday says it all: “CalPERS shelves controversial private equity policy.”

San Diego Union-Tribune Editorial Attacks CalPERS Over Half-Baked Plan to Lower Return Targets

CalPERS comes under fire on a new front: its fight with Governor Jerry Brown over how quickly to lower return targets to realistic levels.

How CalPERS Fails to Use Its Leverage in Private Equity

CalPERS ‘ belief that it cannot change the rules of the game in private equity is a symptom of learned helplessness, not power relationships.

How CalPERS Violated California Open Meeting Laws to Stifle Private Equity Skeptics and Keep the Board in the Dark

If CalPERS breaks the law routinely and casually to silence private equity skeptics, what is it capable of doing when the stakes are higher?

Former California Official Blasts CalPERS CEO Anne Stausboll for “Betrayal of Trust”

A former state official shreds the process CalPERS used to hire scandal-ridden Florida attorney Robert Klausner as fiduciary counsel.

More on How CalPERS Lies to Itself and Others to Justify Investing in Private Equity

A continued discussion of how CalPERS chooses to kid itself about private equity.