In response to media inquiries, private equity firms have reversed themselves on their position that revealing limited partnership agreements would hurt them. So there should be no objection to passing legislation in every state to make these agreements subject to disclosure.
Read more...A new case filed against Deutsche Bank’s wealth management business shows that even money can’t buy safety from predatory finance.
Read more...Private equity firms invest in companies, yet the limited partners in the overwhelming majority of funds can’t see their financial statements. And there’s good reason to be concerned.
Read more...It’s encouraging to see Dan Primack, a seasoned private equity reporter who has been careful about taking up negative stories about his industry, take the latest wave of private equity fee-skimming reports seriously.
Read more...How did supposedly sophisticated limited partners let themselves enter into contracts with private equity firms that are actually pretty one-sided?
Read more...We’ve published 12 private equity limited partnership agreements, including the KKR limited partnership agreement that was key to an important Wall Street Journal story. The source documents have been removed from the Pennsylvania Treasury’s website, so our document trove has now become the best source for these records.
Read more...Naked Capitalism welcomes its new readers from the private equity industry.
Read more...In an important, well-reaserched article, Gretchen Morgenson flags several types of private equity fee abuses. Did the incoming New York Times editor, Dean Baquet, bury her story by running it Memorial Day weekend?
Read more...So when does a related entity rise to the level of being an affiliate? That issue, sports fans, will likely determine whether the SEC will hit the private equity kingpin KKR with fines relative to its relationship with the consulting firm KKR Capstone, which works exclusively for KKR’s portfolio companies.
Read more...Hope you enjoy this chat about private equity on the RT show Boom/Bust from Friday.
Read more...At a private equity conference this week, Drew Bowden, a senior SEC official, told private equity fund managers and their investors in considerable detail about how the agency had found widespread stealing and other serious infractions in its audits of private equity firms.
Read more...No matter how you cut it, the Kentucky Retirement System hasn’t done well with its outsized commitment to alternative investments.
Read more...How Blackstone’ single family home rental business, Invitation Homes, is proving to be more slumlord than landlord.
Read more...We will not have a copy of the formal ruling on our case against CalPERS until the court issues one, but based on a verbal report, my understanding is that Judge Marla Miller ruled from the bench that our case was premature.
If her written order confirms that understanding, this is the least adverse outcome we could have experienced.
Read more...Your humble blogger may be reading more than is warranted into the synchronistic timing of stories in two different newspapers about financing highway construction. But it nevertheless looks sus.
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