Today, two stories broke on the SEC’s activities in private equity, one in Bloomberg, another in Reuters, and they look to be based on authorized leaks. Together, they suggest that the SEC, which obtained new oversight authority for private equity firms under Dodd Frank, has been turning over rocks and found so many creepy-crawlies that even the normally complacent agency felt compelled to take notice.
Read more...How absurd are the goals of the pension funds that invest in private equity? Plenty absurd, it turns out.
Read more...An alert reader sent me a link to a CalPERS press release, dated March 14, before the one we rebutted in the post CalPERS Tries Ineffective Mudslinging in Response to Our Ongoing Private Equity Investigation This earlier press release was not as consequential, so we decided to wait till the weekend to address it.
Read more...When I went to my inbox at the start of my day, one of the noteworthy e-mails in my inbox had the subject line: “NYT Column about You.”
Read more...While we continue digging into the details that the private equity industry has worked hard to shroud in secrecy, it’s important not to lose sight of the real economy consequences of this well-orchestrated wealth transfer scheme. This post by Eric Garland focuses on a case study, Guitar Center.
Read more...Yesterday I learned that a press release that the California Public Employees’ Retirement Systems issued last Friday about our suit against the giant public pension fund. It’s quite a remarkable document, and not in a good way.
Read more...The yawning gap between private equity landlord sales talk and what they are delivering is finally being exposed.
Read more...Reuters is keeping tabs on some of the developments in our ongoing dispute with the nation’s largest public pension fund, CalPERS.
Read more...Our efforts to learn more about the private equity industry are revealing how determined public pension funds are to hiding as much as they can, even when they don’t have a legal leg to stand on.
Read more...A review of the history of CalPERS’ pay to play scandal and the report prepared by Steptoe & Johnson raises quite a few troubling issues. It’s no wonder they are stymieing my requests for information.
Read more...The old saying is “better late than never,” but as we hope to demonstrate, the SEC is awfully late to take an interest in collateralized loan obligations. The problems it has gotten curious about now were discernible years ago. And the failure to take interest until now means that misbehavior that was discussed in the press during the crisis is almost certain to go unpunished, since the statute of limitations for securities law violations has passed.
Read more...CalPERS retiree Tony Butka wrote a letter to CalPERS’ board describing why he is disturbed over how CalPERS is stonewalling my data request.
Read more...CalPERS continues to make a science of not walking its talk.
Read more...Is CalPERS’ General Counsel trying to pull a fast one on its board?
Read more...We were surprised and pleased when a reporter from the Reuters publication peHUB, Chris Witkowsky, contacted us a couple of days ago about the suit we had filed against CalPERS, the California Public Employees Retirement Systems, over their refusal to provide us with information they had given to three Oxford academics who had used that data as the basis for a recently-published paper.
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