CalPERS’ CEO and its staff are engaged in systematic, flagrant, and apparently long-standing violations of California’s open meeting law, the Bagley-Keene Act.
Read more...Please provide your comment on regulatory guidance, um, crackdown, proposed by the IRS on a private equity tax abuse, management fee waivers.
Read more...Blackstone sees fit to tell flagrant legal lies even when the stakes are pathetically small.
Read more...Efforts at greater fee transparency at the New York City public pension fund and CalSTRS are still largely exercises in improving optics.
Read more...An internationally recognized tax expert told me a few months ago that the widely-mislabeled “carried interest” loophole was on its deathbed. A new PBS video lends some support to this bold call.
Read more...Earlier this month, we excerpted a section of a panel discussion from an SEC securities enforcement conference. It showed the degree to which former senior SEC officials who’ve gone into private practice openly ridicule the idea that the SEC should do its job, for instance, by deriding enforcement as “gotcha”. Today, we’ll look at the […]
Read more...Oxford professor Ludovic Phalipoou uses a recent CalPERS board meeting as a teaching tool in his private equity class. Even with him bending over backwards to be fair, the results are seldom flattering to CalPERS.
Read more...The New York City and Missouri public pensions are giving more legitimacy to calls for private equity fee disclosure. But what about the details?
Read more...Public information on Apollo, Blackstone, Carlyle and KKR’s private equity funds shows CalSTRS has no good excuses for defending secrecy on fees and costs.
Read more...Investors in private equity like public pension funds have no idea how much they are paying in costs and fees. That allows for excessive costs and chicanery to continue.
Read more...Can CalSTRS be trusted to do the right thing on proposed private equity transparency legislation in California?
Read more...More on the appalling dereliction of duty of pension fund officials when they failed to act after Blackstone told them it was cheating them.
Read more...California Treasurer John Chiang takes a big step forward by demanding legislation for much greater disclosure of private equity fees and costs
Read more...The SEC is up to its usual kabuki, of pretending that a mere cost-of-doing business punishment for a firm that has engaged in widespread abuses amounts to a serious effort at enforcement. The gap between misconduct and SEC action is particularly striking in the case of private equity. In May 2014, former SEC examination chief […]
Read more...The Obamas lend their name to a private equity brand-building exercise.
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