CalPERS Backs California Treasurer John Chiang’s Private Equity Transparency Legislation; Where is CalSTRS?
Can CalSTRS be trusted to do the right thing on proposed private equity transparency legislation in California?
Read more...Category Archives: Private equity
Former Chief Investment Officer Slams CalPERS, CalSTRS, Other Funds for Doing Nothing When Told Blackstone Was Cheating Them
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...After NC, Media Coverage of CalPERS and CalSTRS Private Equity Fee Lapses, California Treasurer John Chiang Calls for Legislation
California Treasurer John Chiang takes a big step forward by demanding legislation for much greater disclosure of private equity fees and costs
Read more...SEC Gives Blackstone $39 Million Wet Noodle Lashing Over Private Equity Abuses
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...Michelle Obama Helps Legitimate Private Equity Camo-Washing
The Obamas lend their name to a private equity brand-building exercise.
Read more...CalSTRS Board Chairman Harry Keiley, in Op-Ed Rejected by Financial Times, Gave Inconsistent and Inaccurate Information in Carry Fee Scandal
The Financial Times saved CalSTRS board chairman Harry Keiley from embarrassing himself. We aren’t.
Read more...Former State Chief Investment Officer Tells CalPERS and CalSTRS to Fire Consultant PCA Over Proposed Fix for Poor Private EquityPerformance
How CalPERS’ and CalSTRS’ private equity consultant PCA has demonstrated that it needs to go.
Read more...California State Controller Betty Yee, CalSTRS Board Member Blow Off Union Spokesman on Private Equity Fees
California state controller Betty Yee blows off a union official’s request for carry fee information by saying CalSTRS “is being very diligent,” when CalPERS has already gotten the information.
Read more...Private Equity Underperformance Denialist, Pension Consulting Alliance, Tells CalSTRS to Fix Performance Problems by Scrapping Benchmark
CalSTRS’ and CalPERS’ consultant, Pension Consulting Alliance, argues for getting rid of benchmarks altogether in a desperate effort to depict investing in private equity as ever and always sound.
Read more...Former California Official Blasts CalPERS CEO Anne Stausboll, Staff, and Board for Misconduct
Former California official Tony Butka He deems Chief Investment Officer, Ted Eliopoulos, the head of private equity, Réal Desorchers, and private equity professional Christine Gogan to have been so dishonest with the board that they all have should have received a notice of intent to discharge.
Read more...Public Pension Fund Study: High Fee Strategies Like Private Equity Lose Billions Compared to Cheaper Alternatives
A recent report slammed public pension funds for losing money relative to what they could have done by investing in high fee strategies like private equity. And that’s even before incorporating the fact that private equity returns are overstated.
Read more...Elizabeth Warren, Other Senators Back IRS in Cracking Down on Private Equity Tax Abuse, Management Fee Waivers
One big private equity tax abuse, management fee waivers, is on its way out. Will others follow?
Read more...Private Equity Asset-Stripping Strategy Meets Charter Schools to Produce Even Better Looting
Tax-free junk bonds. High real estate and transactions fees. High consultants’ fees. Lack of transparency. A charter school Ponzi scheme.
Read more...CalSTRS, Maryland Fund Private Equity Players Seeking Profits in the Refugee Crisis
Private-equity-backed providers undercut charities in providing refugee services. It’s not hard to imagine how the results are coming in.
Read more...Why You Should Care About CalPERS’ Staff’s and Board’s Incompetence in Private Equity and What You Can Do About It
Why you need to help CalPERS kick its bad private equity habits.
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