On Tuesday, the lawyer of Alfred Villalobos said his client was too sick to attend the trial stemming from his alleged bribery of a top CalPERS official. On Wednesday, the lawyer said that Villalobos, 71, had passed away. Villalobos, a former placement agent, was on trial for allegedly bribing a former CalPERS Chief Executive to … Continue reading Alfred Villalobos, Central Figure in the CalPERS Bribery Scandal, Has Died
Reporter Ed Mendel covered the California Capitol in Sacramento for nearly three decades, most recently for the San Diego Union-Tribune. More stories are at Calpensions.com. A former CalPERS chief executive officer, Fred Buenrostro, was sentenced to 4½ years in prison last week for taking bribes, including $200,000 in cash, from a former CalPERS board member, … Continue reading CalPERS Ex-CEO Sentenced, But Probe Continues
Fred Buenrostro, former CEO of CalPERS, pled guilty last year to accepting bribes during his tenure. But his sentencing for the bribery charges has now been delayed, as Buenrostro will be in jail on a different set of charges: battery. From the Sacramento Bee: Buenrostro, 66, is serving a 60-day jail sentence after being arrested … Continue reading Disgraced Ex-CalPERS Chief Jailed on Battery Charges; Bribery Sentencing Delayed
Anne Stausboll, who has been at the helm of CalPERS as CEO for 7 years, will step down on June 30. [Read the CalPERS press release here.] There’s no word yet on who will replace Stausboll, who was the first woman to head the pension fund in its 84 years of existence. More from Reuters: … Continue reading CalPERS CEO To Step Down At End of Fiscal Year
Reporter Ed Mendel covered the California Capitol in Sacramento for nearly three decades, most recently for the San Diego Union-Tribune. More stories are at Calpensions.com. A tentative CalPERS proposal would limit the board president and committee chairs to four consecutive one-year terms, a policy that could end the long-running presidency of Rob Feckner in 2017. … Continue reading CalPERS Considering Term Limits for Board Leaders
Reporter Ed Mendel covered the California Capitol in Sacramento for nearly three decades, most recently for the San Diego Union-Tribune. More stories are at Calpensions.com. Using a new data system, CalPERS last week issued its first report on fees paid private equity firms, a type of investment that created a new class of billionaires and … Continue reading In Depth: CalPERS Takes One Step to Monitor Private Equity
Bloomberg on Wednesday whipped up this interesting chart, seen above, detailing the five funds to which CalPERS has paid the most carried interest since 1990. One interesting wrinkle: if Apollo Investment Fund VII sounds familiar, it’s because it was one of the funds on the periphery of the CalPERS bribery scandal. The fund itself committed … Continue reading Chart: The Five Funds Who Received the Most Profit-Sharing From CalPERS
Ed Mendel is a reporter who covered the Capitol in Sacramento for nearly three decades, most recently for the San Diego Union-Tribune. More stories are at Calpensions.com. Private equity firms have produced big profits for CalPERS, not to mention a pay-to-play scandal, while keeping a big share for themselves as an incentive — traditionally 20 … Continue reading In Depth: CalPERS Will Reveal Private Equity Share of Profits
Alfred Villalobos, the ex-placement agent on trial for bribing CalPERS’ chief executive, is too sick to stand trial, according to his lawyer. The attorney is pushing for a postponement of the trial, which was set to begin in late February. Villalobos is 71 years old and has reportedly been in and out of the emergency … Continue reading Central Player in CalPERS Bribery Case Is Too Sick For Trial, According to Lawyer
The sentencing of Fred Buenrostro, the former CalPERS executive who pleaded guilty over the summer to accepting bribes, has been pushed back nearly five months to allow further cooperation with the government. From the Sacramento Bee: Fred Buenrostro, who left the California Public Employees’ Retirement System in 2008, will now be sentenced May 13 in … Continue reading Sentencing Pushed Back For Defendant in CalPERS Bribery Case
