Authoritative Consultant Slams Private Equity in Journal Article: Cheap Index Funds and In House Buys Beat PE Funds
Yet another authoritative source slams private equity returns.
Read more...Category Archives: CalPERS
CalPERS Employees Beware: Don’t Fill Out Non-Confidential Survey Jiggered to Falsely Boost Executive Bonuses
Memo to CalPERS employees: If you see staff or vendors profiteering, call a lawyer. You could win a financial award and stop the abuse.
Read more...Another Blow to Private Equity: “You Can Pick Winners” Again Shown To Be a Fool’s Game
More bad news about private equity returns.
Read more...Can’t Do America: Kick the Can Approach to Public Pension Fund Crisis, Even Though Canada Cleaned Up Its Mess
Why the US is certain to ignore the Canadian roadmap out of its public pension fund mess….and it’s not just because exceptionalism.
Read more...A Letter from Nanea to Yves Smith About CalPERS’ Strange $1.5 Billion Deal with LongRange Capital
CalPERS defied its board by staking a startup fund with a cool $1.5 billion without approval. And on top of that, the deal looks lame.
Read more...CalPERS: Poster Child of Private Equity Cargo Cultism
CalPERS’ zealous defense of private equity looks pathological. So we hazard a diagnosis.
Read more...Why Has Mayoral Candidate Scott Stringer Invested New York City Pensions in Private Equity Firms Like Blackstone?
The New York City pension system provides more proof that investing in private equity hurts performance.
Read more...What Did Billionaire Leon Black of Apollo Get for >$50 Million in Fees to Jeffrey Epstein?
The more we learn about Leon Black’s relationship with sex offender Jeffrey Epstein, the less there is to like.
Read more...CalPERS CEO Marcie Frost Says She’s Not in Charge and Lies to the Board About Receiving a Warning from the Fair Political Practices Commission
CalPERS CEO Marcie Frost doesn’t even bother to lie well.
Read more...CalPERS Cooks Its Books: Grossly Understated Investment Consultant Meketa’s Expenses in Annual Financials; Made a Criminal False Account by Burying the Cost
CalPERS violates accounting rules by hiding outside consulting costs in internal investment overheads. None of the possible reasons are good.
Read more...CalPERS’ Bad Numbers: CEO Marcie Frost’s Multi-Hundred Thousand /Year Advisor Randle Communications Missing from Board Reports
A remarkable series of accidents led to the CalPERS board not being told how much CEO Marcie Frost’s advisor Randle Communications costs.
Read more...Another Compliance Failure: CalPERS Discussed Recusal of Ex-CIO Ben Meng but Failed To Enforce It; CEO Marcie Frost Says “Not My Job”
CalPERS CEO Marcie Frost told the press that she’s punting on her compliance duties.
Read more...Influential California State University Council Calls for CalPERS CEO Marcie Frost to Go on Administrative Leave During Investigation by Inspector General
A CSU group has asked Gavin Newsom to put CalPERS CEO Marcie Frost on administrative leave while an inspector general probes governane failings.
Read more...CalPERS Staff Yet Again Tries to Usurp Board’s Power by Steering Governance Reforms After CIO Ben Meng Departure
CalPERS staff is too obviously still trying to stymie Controller Betty Yee’s governance reforms.
Read more...State Controller Betty Yee Calls for Public Discussion of CalPERS Governance Reforms Following Sudden Departure of CIO Ben Meng
Controller Betty Yee forcefully slapped down CalPERS’ CEO Frost’s claim that Yee was satisfied with the burial of Yee’s governance issues.
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