Category Archives: CalPERS

Misunderstanding Public Pension Fund Implications of Thole v. US Bank and Mayberry v. KKR

How some commentators are misreading two recent court cases on pensions: Thole v. US Bank and Mayberry v. KKR.

New Study Slams Public Pension Funds’ Alternative Investments as Drag on Performance, Identifies CalPERS as One of the Worst “Negative Alphas”; Shows Folly of CalPERS’ Desperate Plan to Increase Private Equity and Debt and Go Bigger Using Leverage

A new paper shows that public pension fund investment in “alts” like real estate and private equity hurt returns and failed to lower risk.

Beneficiary Uproar Over CalPERS Fraudulent Investment Strategy Claims in E-Mail Blast

CalPERS latest beneficiary e-mail had misrepresentaions that even the toothless SEC would sanction.

New Complaint With California Watchdog Charges CalPERS Board Member Theresa Taylor With Perjury for Filing False Declarations That Hid Over $30,000 of Income; Follows Fines of Board President Jones for Campaign Violations

CalPERS vice president and Investment Committee chairman Theresa Taylor had engaged in an apparent clear cut perjury by failing to disclose income.

LA Times’ Michael Hiltzik Shellacks CalPERS for Trumped-Up Attacks on Board Member Margaret Brown, Toadying to Staff Instead of Providing Oversight

Mike Hiltzik gives the CalPERS board yet another well-warranted dressing down.

Board Member Margaret Brown Sues CalPERS, Board President Over Gang-Style Retaliation for Efforts to Oppose Its Incompetence

Board member Margaret Brown has finally had it with CalPERS’ dirty tricks.

CalPERS Plans to Blow Its Brains Out: Seeks to Increase Risk by Boosting Private Equity, Private Debt, and Leveraging the Entire Fund

CalPERS latches on to new, really bad investment ideas.

Private Equity Gets New Pockets to Pick: Your 401(k), in Funds Repeatedly Cited by the SEC for Abuses

While the US was busy with coronavirus and George Floyd protests, private equity stormed the retail investor barricade.

Public Pension Plans in a World of Hurt; Even Loyalists Warning of Grim Prospects

Not surprisingly, public pension fund economics look pretty sick.

Universa Debunks CalPERS’ Defense of $1 Billion Tail Hedge Miss; Insider Accounts Expose Additional Misrepresentations

CalPERS efforts to ‘splain away its $1 billion tail hedge fiasco backfire as one of the tail risk managers, Universa, shreds CalPERS’ claims.

More Public Pension Fund Pain: LACERS Reports Hit to Liquidity from Private Equity Capital Calls; Are Fund Managers Exploiting the Dumb Money Yet Again?

Private equity firms are sucking cash out of their limited partners at the worst possible time, exposing public pension funds in particular to liquidity crunches and fire sales.

CalPERS Out of Control: Stunningly High Number of Personal Trading Violations, Yet Board Ignored the Misconduct

CalPERS yet again manages to exceed expectations in a bad way.

Mitch McConnell to State Pension Funds: Drop Dead

Prominent Republicans are threatening to gore the public pension fund ox.

Hissy Fit by CalPERS Board: Falsely Blames Margaret Brown for Staff Leaks of CIO Meng’s $1 Billion Giveup, Public Opposition to Staff Coup

Sports fans, it seems hard to believe, but the CalPERS board has sunk to a new low with an extended display of incompetence and pique.

Press Ferrets Out More Falsehoods by CalPERS CIO Ben Meng, Evidence of Poor Leadership, in Giving Up >$1 Billion Hedge Payday

CalPERS’ embattled CIO Ben Meng digs his $1 billion hole deeper with not-credible defenses. Tell the board not to cede more authority to him.