CalPERS Admits It Has No Idea What It is Paying in Private Equity Carry Fees
We are not making it up. Private equity limited partners like CalPERS have no idea what they are paying in carry fees, one of the biggest costs they incur.
Read more...Category Archives: Private equity
Memo to Readers: If You Want to Beat Big Finance, You Need to Be Able to Take the Fight to Their Terrain
We are now 35 years into a finance-led counterrevolution. If you care about income inequality, student loan debt slavery, foreclosure abuses, and other products of the success of this effort, it behooves you, as Sun Tzu urged, to understand your enemy.
Read more...Barney Frank Denies Earlier Reports That He Called for Weakening Dodd Frank Private Equity Reforms
Barney Frank says that he stands by Dodd Frank registration of private equity firms, walking back a widely-reported earlier remark that gave the industry great cheer.
Read more...SEC Official Effectively Thanks Gretchen Morgenson and Mark Maremont for Embarrassing Private Equity into Cleaning Up a Tad
The SEC’s acting director of examinations gave a progress report a year after his predecessor exposed widespread misconduct in private equity. But is the agency goingfar enough?
Read more...Private Equity Standard-Setter Confirms That Investors Have No Idea What Firms Charge Them
Investors keep their heads deeply in the sand as far as the true cost of investing in private equity is concerned.
Read more...Control Fraud and For-Profit “Universities” (Et Tu, Bill Clinton?)
Bill Black’s formula for accounting control fraud applied to for-profit universities like Corinthian and Laureate, with a swipe at Laureate’s Honorary Chancellor, Bill Clinton.
Read more...We Made an SEC Private Equity Whistleblower Filing
We made an SEC whistleblower filing based on an astonishing admission by a private equity firm, Riverside Partners.
Read more...Carlyle’s Private Equity Secrecy Overreach
Carlyle pushed a private equity investor to redact large sections of a private equity agreement before releasing it. You can see those redactions exposed.
Read more...More Barbarians at the Gates: Private Equity Puts Primary Care in Play
Via the work of the Health Care Renewal website, we’ve warned of the push for corporatized medical care and the danger that poses to patients. Here is another push to extract profit from bodies, that of private equity’s new appetite for primary care practices.
Read more...Investors Like CalPERS and New York City in the Dark About Private Equity Fees
This anodyne-seeming section from a video at Privcap on The Future-Proof LPA [Limited Partnership Agreement] contains a real bombshell
Read more...How Is It Possible That the Trustees at Cooper Union Have Not Resigned in Shame?
Eric Schneiderman is looking into the mess at Cooper Union. Let’s hope the outcome is a return to Cooper’s vision of free tuition.
Read more...The SEC’s Andrew Bowden to Leave the Agency
From the SEC this morning:
Read more...The Securities and Exchange Commission today announced that Andrew Bowden, Director of the Office of Compliance Inspections and Examinations (OCIE), will leave the agency at the end of April to return to the private sector.
Rahm Emanuel and Rick Perry Hold Public in Bipartisan Contempt
Lambert here: This post is short and sweet. It’s worth reminding ourselves that on some axes of evaluation, Republicans and Democrats are far more alike than different.
Read more...SEC Starts Issuing Wells Notices to Private Equity Firms (Updated)
We tweeted last week:
Rumor from a private equity source: "Heard a bunch of alts firms got Wells notices from the SEC"
— Yves Smith (@yvessmith) April 2, 2015
Our source was correct.
Read more...Ex-TPG Employee Adam Levine Countersues, Charges Private Equity Firm With Cheating and Misleading Investors, Retaliation
Adam Levine’s whistleblower suit against TPG has the potential to do real damage to the giant private equity firm.
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