Category Archives: Private equity

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.

CalPERS Reported That It Made Less in Private Equity Than Its General Partners Did (Updated: As Did CalSTRS)

CalPERS clearly made less on its private equity investments last year than its so-called partners did.

CalPERS Announces Preliminary Returns of 0.6% When Target is 7.5% (Updated)

CalPERS posts crappy results and its disclosure isn’t too hot either.

How Finance Costs Too Much and Fails to Deliver

The costs of looting by the financial services industry are even more staggering than you probably imagined.

Warren, Sanders, Brown, Merkley, Reed, 4 Other Senators, Ask the SEC to Get Out of Bed on Private Equity

As strange as it may seem, eight Senators ganging up on the SEC over yet another private equity lapse is a sign of a change in the zeitgeist.