A Letter from Nanea to Yves Smith About CalPERS’ Strange $1.5 Billion Deal with LongRange Capital
CalPERS defied its board by staking a startup fund with a cool $1.5 billion without approval. And on top of that, the deal looks lame.
Read more...CalPERS defied its board by staking a startup fund with a cool $1.5 billion without approval. And on top of that, the deal looks lame.
Read more...CalPERS’ zealous defense of private equity looks pathological. So we hazard a diagnosis.
Read more...The New York City pension system provides more proof that investing in private equity hurts performance.
Read more...The more we learn about Leon Black’s relationship with sex offender Jeffrey Epstein, the less there is to like.
Read more...CalPERS CEO Marcie Frost doesn’t even bother to lie well.
Read more...CalPERS violates accounting rules by hiding outside consulting costs in internal investment overheads. None of the possible reasons are good.
Read more...A remarkable series of accidents led to the CalPERS board not being told how much CEO Marcie Frost’s advisor Randle Communications costs.
Read more...CalPERS CEO Marcie Frost told the press that she’s punting on her compliance duties.
Read more...A CSU group has asked Gavin Newsom to put CalPERS CEO Marcie Frost on administrative leave while an inspector general probes governane failings.
Read more...CalPERS staff is too obviously still trying to stymie Controller Betty Yee’s governance reforms.
Read more...Controller Betty Yee forcefully slapped down CalPERS’ CEO Frost’s claim that Yee was satisfied with the burial of Yee’s governance issues.
Read more...Hedge fund managers claw an awful lot in fees out of their investors but the reasons look to be different than for private equity.
Read more...CalPERS has long covered up its dirty linen, including by making uninformative presentations to the board.
Read more...CalPERS governance has become so visibly defective that a normally loyal retiree organization has gone into revolt.
Read more...CalPERS is not only hiring overpriced motivational speakers it can’t afford, but it is also cooking its records to do so.
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