Category Archives: Private equity

CalPERS Keeps Board in the Dark About How Private Equity “Subscription Line Financing” Gooses Staff and General Partner Pay and Systemic Risk

CalPERS is asleep at the switch yet again.

Wall Street Journal Trolls CalPERS After Getting It to Correct Expense Misrepresentation

The Wall Street Journal forced CalPERS to retreat on its misleading private equity expense reporting.

4 Lies in 25 Seconds: CalPERS’ Wylie Tollette, PR Staff, Keep Cooking Cost Numbers Despite Being Called Out

Another example of institutionalized lying is deeply rooted at CalPERS, even though they aren’t very good at it.

WSJ: JJ Jelincic to Leave CalPERS Board

JJ Jelincic is retiring from CalPERS’ board. He has made some more pointed comments about the sorry state of affairs at the pension fund.

Private Equity’s Lousy Governance

A upcoming law journal article does a fine high-level job of debunking private equity’s claims of providing better governance.

Board Candidate Asks Whether CalPERS Is Cooking the Books to Fatten Bonuses

CalPERS board candidate Margaret Brown finds a lot not to like in the way CalPERS continues to play fast and loose with figures.

Some Public Pension Funds Taking on Outsized Private Equity and Hedge Fund Fees

Public pension funds might finally be getting over their unhealthy co-dependent relationships with private equity and hedge funds.

How Financialization and the “New Economy” Hurt Science and Engineering Grads

How the “new economy” devalued science and engineering degrees.

Illinois Bill Targets Carried Interest Loophole

The Illinois, New York and Connecticut legislatures are end-running the Feds by going after the carried interest loophole.

Private Equity Clutching Pearls Over Sweden Ending Carried Interest Loophole

Has Sweden become the mouse that roared at private equity?

Wall Street Journal Reports on Appearance of Private Equity Self-Dealing at Blackstone and Other Firms Nearly Four Years After We Broke the Story

So why is the Wall Street Journal years late in reporting on private equity self-dealng, and underplays its seriousness to boot?

“Howard Marks Seems to Read Naked Capitalism” on Private Equity Fund-Level Borrowing That Juice Reported Returns While Increasing Risks

Storied investor Howard Marks penned a not-very-positive post on private equity subscription lines of credit, echoing our earlier warnings.

Wolf Richter: Private Equity in the Thick of Bricks and Mortar Retail Implosion

The distress at traditional retailers has been made much worse by private equity asset stripping rendering them fragile.

Skepticism About Private Equity Fees Going Mainstream: Pew and CalPERS Versus Yale and Industry Stalwarts

Private equity is getting defensive about its fees, and for good reason: its justifications for them are being exposed as hollow.

Why Did CalPERS Pay FTI Consulting $224,625 for a Garbage-In, Garbage-Out Private Equity Whitewash?

Why did CalPERS hire FTI Consulting to cover up for private equity firms?