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.
Read more...It is hard to grasp how successful the private equity industry has been in brainwashing investors to keep information secret.
Read more...Since readers have taken interest in the details of our ongoing litigation with the giant California public pension fund, CalPERS, I thought I’d tie off a thread from earlier in the month. By way of background, last September, we filed a Public Records Act request (California’s version of FOIA) for private equity return data that […]
Read more...McKinsey has issued a new report on the private equity industry that ought to give any investor cause for pause.
Read more...Who in their right mind would want to invest in a search fund?
Read more...Private equity firms have been hoovering up houses all over the US to convert into rentals. But they were active in the New York City rental market before their big buying spree, and that experience gives a window on how they are likely to behave as landlords.
Read more...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.
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