The New Shadow Banks: Private Equity Becomes Private Credit
Private equity funds have launched a host of private credit fund to let them borrow more than banks are allowed to provide. What could go wrong?
Read more...Category Archives: Private equity
Eric Garland: Seven Lessons from How Private Equity Wrecked Guitar Center
The Guitar Center fiasco as a case study in how not to run a business, and how that indicts private-equity influenced management norms.
Read more...California Treasurer and CalPERS Board Member John Chiang Introduces Private Equity Transparency Bill
California Treasurer John Chiang’s private equity transparency bill has been launched. How does it stack up?
Read more...Wolf Richter: Sudden Death? Junk-Rated Companies Headed for Biggest “Refinancing Cliff” Ever – Moody’s
A refinancing bulge is coming awfully soon.
Read more...Stock Market Investors Abandon Private Equity, Expect No Profits Overall From Current Deals
Equity investors think private equity funds will show no profits on their current deals, which contrasts sharply with portfolio company valuations.
Read more...CalPERS Takes on Risk Where Federal Government Fears to Tread: Provides Liquidity to a Derivatives Central Counterparty on the Cheap
CalPERS has engaged in one of the most bone-headed moves ever, the financial equivalent of picking up pennies before a steamroller.
Read more...CalPERS, CalSTRS Board Member Betty Yee Asks the SEC to Rescue Public Pension Funds From Themselves
California State Controller Betty Yee makes some underwhelming private equity reform proposals.
Read more...“This is Just Evil”: Massive Private License Plate Database Tracks Car Locations Over Years
Large-scale logging of time and location stamped license plate data, retained over years, means Big Brother knows where you have been.
Read more...Private Equity Fun Time
This is both a private equity joke and a test to see if you’ve become buzzword compatible enough to get it.
Read more...Investors Piling into Illiquid Assets to Avoid Discipline of Market Prices
Investors are piling into risky, illiquid assets at the worst possible time and for the worst reason: to fake performance.
Read more...Bill Black: Wall Street Declares War Against Bernie Sanders
The attacks on Sanders from Wall Street are getting ever more shrill….about time the felt some heat.
Read more...New York Review of Books on How Oligarchs Use Philanthropy to Advance Their Social Agendas (and a Shout Out to NC)
How the 0.1% are using philanthropy as a Trojan Horse for social engineering.
Read more...CalPERS CEO Anne Stausboll to Retire June 30
CalPERS’ CEO Anne Stausboll unexpectedly announced her plan to retire. The most probable explanation does not reflect well on her.
Read more...Bloomberg Spotlights Poor Private Equity Returns From Last “Peak of Cycle” Mega Deals
Buying at the peak rarely works out, as private equity’s pre-crisis mega deals confirm. Yet general partners fared really well.
Read more...Why is CalPERS Understating Its Cost of Investing in Private Equity by Roughly $1.6 Billion, Meaning 80%?
CalPERS keeps putting its hand in the buzzsaw by presenting misleading or outright false information about private equity fees and costs.
Read more...