Category Archives: Private equity

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.

Hoisted From E-mail: “Shock Doctrine Against CalPERS”

Why CalPERS is becoming the target of sustained media attacks.

Cerberus Uses Private Equity Looting Strategy With Scandal-Ridden Steward Health Care Hospitals

How Cerberus is using a real estate looting strategy to salvage its purchase of Steward Health Care….at the expense of the operations, natch.

Law Firm for Private Equity Fund Managers Points Out That California “Transparency” Bill AB 2833 is a Big Fail

Yet more evidence that AB 2833, a supposed private equity reform bill sponsored by California Treasurer John Chiang, was a cynical ploy.

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.

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.

Hedge Funds Get More Pushback on Terms as Enthusiasm for Strategy Wanes

Investors are trimming hedge funds’ sails….finally.

Milwaukee Riots Round-up of “Systemic Causes”

Milwaukee riots and disinvestment, segregated housing, and law enforcement for profit

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.

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.

A New Low: The New York Times’ Children’s Bedtime Story of Private Equity

The New York Times wraps up a feeble yet costly series on private equity with a cringe-maknig slide show.

California Treasurer John Chiang’s Peculiar Letter to the New York Times on His Sham Private Equity Transparency Bill

Treasurer John Chiang tries to defend his bill, AB 2833, against an article by Gretchen Morgenson, but only digs his hole deeper.

Meet CalPERS Board Member Bill Slaton, Who Puts Kow-Towing to Private Equity Over Beneficiaries and California Taxpayers

CalPERS Investment Committee vice chairman Bill Slaton exemplifies many of the pathologies of the board.

After Supporting Treasurer Chiang’s Private Equity Transparency Bill in Public, CalPERS Gutted It Behind the Scenes

Yet more evidence of CalPERS’ chicanery on behalf of the private equity industry.