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.”
Read more...Category Archives: Investment management
Partial Tally of Hidden Private Equity Fees: 6% of Equity Invested
A new study on private equity’s hidden charges is sure to fuel demands for more transparency.
Read more...Our Bloomberg Op-Ed on CalPERS’ Plan to Get Rid of Private Equity Risk by Ignoring It
CalPERS’ plan to eliminate the measurement of private equity risk, a seismic change, is a case study in how staff manipulates the board to its own advantage.
Read more...Matthew Cunningham-Cook: How the Christie Stole New Jersey Local Government Workers’ COLA
A vignette of how pensioners are being shafted by being denied their COLA, or cost of living increase. In New Jersey, this looks to be a transfer to Wall Street.
Read more...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.
Read more...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.
Read more...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?
Read more...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.
Read more...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.
Read more...How CalPERS Lies to Itself and Others to Justify Investing in Private Equity
CalPERS really seems to have convinced itself that the likes of KKR and Blackstone are “partners” in more than just the legal sense. Oops.
Read more...CalPERS Used Sleight of Hand, Accounting Tricks, to Make False “There is No Alternative” Claim for Private Equity
CalPERS staff and outside experts went to considerable lengths distort data and abuse analytical methods to make the case that only private equity could offer the allegedly superior returns needed to meet CalPERS’ targets. The fact that CalPERS did not make an honest case for private equity suggests that no honest case could be made.
Read more...CalPERS Board, Scandal-Ridden Fiduciary Counsel, Plan to Break California Law in Effort to Silence Board Member for Asking Too Many Questions, Seeking Records
CalPERS’ tainted fiduciary counsel Robert Klausner gives more dubious advice, confirming that he is a danger to CalPERS and ultimately, to CalPERS beneficiaries and California taxpayers.
Read more...CalPERS’ Scandal-Ridden Fiduciary Counsel Ducks Jacksonville Subpoena; City Files Suit Alleging Illegal Creation of Gold-Plated Pension Fund
The not-so-savory reputation of CalPERS’ fiduciary counsel, Robert Klausner, took another hit as his criminal attorney ducked a Jacksonville subpoena.
Read more...Harvard Professor Josh Lerner Gave Weak and Internally Contradictory Plug for Private Equity at CalPERS Workshop
Harvard’s Professor Josh Lerner gave CalPERS what was presumably a pep talk for investing in private equity that was so contradictory as to amount to a case against it.
Read more...CalPERS Pokes Its Board in the Eye by Releasing Private Equity Carry Fee Info After, Rather Than During, Board Meeting
CalPERS is so confident of its control over its board that it has no compunction about broadcasting how little respect it has for them.
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