Pensions & investments, in an astonishingly outspoken editorial, excoriated fund trustees for failing to perform their fiduciary duty and called for sanctions.
Read more...A Los Angeles Times headline recapping a board meeting Monday says it all: “CalPERS shelves controversial private equity policy.”
Read more...A new study on private equity’s hidden charges is sure to fuel demands for more transparency.
Read more...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...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...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...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...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...Listen to the stream or download the podcast from our interview with Harry Shearer last weekend. It’s gotten high marks.
Read more...Be sure to catch our best interview evah with Harry Shearer today, Sunday, or listen to the podcast later in the week. And let your friends and family know too!
Read more...A continued discussion of how CalPERS chooses to kid itself about private equity.
Read more...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 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’ 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...The not-so-savory reputation of CalPERS’ fiduciary counsel, Robert Klausner, took another hit as his criminal attorney ducked a Jacksonville subpoena.
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