The Bigger Significance of CalPERS’ Private Equity Carry Fee Release: Another Nail in the Carried Interest Tax Loophole Coffin
Why the CalPERS carry fee disclosure could affect the debate over ending the carried interest loophole.
Read more...Category Archives: Private equity
CalPERS Staff, Scandal-Ridden Fiduciary Counsel Argue to Weaken Board Oversight by Reducing Number of Board Meetings
CalPERS CEO and its tainted fiduciary counsel Robert Klausner try to sell the CalPERS board on giving up even more power, when CalPERS clearly needs more, not less, oversight.
Read more...Investors Like CalPERS Rely on ILPA to Advance Their Cause, When It is Owned by Private Equity General Partners
Private equity limited partners are such chumps that they rely on a trade group, ILPA, to lobby for them when it is funded by their opponents.
Read more...CalPERS Debunks Private Equity: Executive Summary
Announcing a series that shows how CalPERS’ efforts to defend its private equity program through a workshop for its board backfired.
Read more...CalPERS Hired a Fiduciary Counsel Accused of Serious Misconduct Over More Than a Decade, Including Kickbacks, Failure to Disclose Conflicts of Interest
CalPERS’ board has hired a fiduciary counsel, Robert Klausner, who has been associated with scandals for over a decade, the latest in Jacksonville, Florida.
Read more...Board Member Reveals That CalPERS Engages in Systematic Violation of California Open Meeting Statutes
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...Support Elizabeth Warren, and Other Senators in IRS Crack Down on Private Equity Tax Abuse
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 Executive Commits Perjury via Declaration That Information in SEC Order is “Confidential” and “Trade Secret”
Blackstone sees fit to tell flagrant legal lies even when the stakes are pathetically small.
Read more...New York City, CalSTRS Engage in Pension Fee Transparency Theater to Try to Fool Critics
Efforts at greater fee transparency at the New York City public pension fund and CalSTRS are still largely exercises in improving optics.
Read more...Is the Billionaire-Creating Carried Interest Loophole an Endangered Species?
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...Why is Helane Morrison, General Counsel for Hall Capital, Fund Manager for the Super-Rich, Attacking SEC Investor Protection?
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 Schools CalPERS: Contrary to Board Presentation, Private Equity is “Most Expensive Asset Class, By Far”
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...New York City and Missouri Pensions Follow California Treasurer Chiang on Private Equity Transparency…..Sort Of
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...Private Equity Firms with Traded Stock Disclose Info that Calls into Question CalSTRS’ Foot Dragging on Disclosure
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...NY Times’ Gretchen Morgenson Exposes More Layers of Private Equity Fee Chicanery
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.
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