Even CalPERS Admits Private Equity Returns Are Fizzling
Like second marriages, private equity has become a triumph of hope over experience.
Read more...Category Archives: Investment management
Private Equity Double Standard: California’s John Chiang, Other State Officials Happily Ding Headline-Grabbing Wells But Look Other Way With PE
State officials like California Treasurer John Chiang eagerly sanction an easy target like Wells Fargo. But private equity? Fuddedaboudit.
Read more...Blackstone Presents New Fee Scheme: Tricky Fees are Dead, Long Live Tricky Fees!
Blackstone’s new, improved fee scheme confirms that any supposed concession to investors need to be viewed with great skepticism.
Read more...Hoisted From E-mail: “Shock Doctrine Against CalPERS”
Why CalPERS is becoming the target of sustained media attacks.
Read more...CalPERS General Counsel Matt Jacobs Lies to Board, and Staff Abuses Authority, to Stymie Public Input
Why general counsel Matt Jacobs’ record of misrepresentations, omissions, and slipshod advice makes him a danger to CalPERS.
Read more...New York Times Owes CalPERS a Retraction for Hatchet Job on Pension Fund Termination
The Grey Lady runs an error-filled piece on employer termination of plans with CalPERS, apparently carrying the water of pension privatizers.
Read more...Even Matt Levine Feels Compelled to Say Sorta Bad Things About Apollo’s Conduct in $52.8 Million SEC Settlement
Apollo gets nicked by the SEC, but par for the course, not all that badly.
Read more...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.
Read more...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.
Read more...Hedge Funds Get More Pushback on Terms as Enthusiasm for Strategy Wanes
Investors are trimming hedge funds’ sails….finally.
Read more...Even Endowments Like Harvard, Former Top Investors in Hedge and Private Equity Funds, No Longer Beat Boring Stocks and Bonds
Even supposedly oh-so-savvy endowments can’t eke superior performance out of private equity and hedge funds any more.
Read more...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.
Read more...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.
Read more...Americans for Financial Reform Calls Out Private Equity Broker-Dealer Abuses as Latest Example of SEC’s Weak, Selective Enforcement
Americans for Financial Reform, an influential group, calls on the SEC to act to combat a long-standing private equity abuse.
Read more...Dumb Money Watch: ZIRP-Starved Insurers Beefing Up in Lending as Banks Exit the Pool
Insurers are going long risk at one of the worst possible junctures.
Read more...