The Treasurer of North Carolina has reacted to pending legislation designed to shed more light on the murky world of private equity investments by having allies sponsor their own “transparency” bill that is a big step backwards.
Read more...Readers may recall that we were exercised last week about a motion that CalPERS’ attorney had sent to us in advance of his plan to file it.
Read more...Steve Horn of DeSmogBlog has done important original reporting and uncovered what could be impermissible dealings between North Dakota officials and David Petraeus, in his role as emissary for one of private equity’s best-known players, KKR.
Read more...What is CalPERS trying to hide? The pension fund sweetly professes that we should have the data we’ve asked for, but won’t provide it. It’s latest move shows how deeply it is committed to scorched-earth strategies in dealing with us.
Read more...It is perversely considered to be normal to allow private equity general partners to value fund assets on a “trust me” basis. And the limited partners are also awfully trusting in allowing for very thin explanations of distributions (payments) from the funds.
Read more...Why private equity returns are nowhere near as juicy as most investors in private equity believe.
Read more...A revealing image, and more investigation of KKR’s all-too-clever wordsmithing strongly indicate its claim that KKR Capstone is not an affiliate does not stand up to scrutiny. This is a serious charge because if the critics are right, KKR is embezzling.
Read more...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?
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