Calpers

CalPERS to Cut Investment Fees by 8 Percent Next Year

CalPERS calculates that it will cut investment-related fees by 8 percent in fiscal year 2015-16, according to a report by Bloomberg. The pension fund has been looking to cut costs recently by reducing the number of private equity managers it invests with and moving more investment management in-house. According to CalPERS’ proposed budget, obtained ...
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Preqin: More Pensions Invested in Private Equity, But Average Allocation Down From 2013

Data from Preqin shed some light on private equity activity in 2014, and showed that more public pension funds invested in private equity in 2014. Even still, public pensions’ average allocation to private equity has dipped slightly since 2013. From ThinkAdvisor: Preqin, the investment alternatives data provider, found that the number of active U.S.-based ...
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Exploring the Relationship Between Pension Funds and Private Equity Firms

Finance blog Naked Capitalism has published a long interview with Eileen Appelbaum and Rosemary Batt, authors of Private Equity at Work, a book that dives into the inner-workings of the PE industry. Part of the Naked Capitalism interview, conducted by Andrew Dittmer, covers the relationship between limited partners (pension funds) and general partners ...
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Ontario Teachers’ Pension Names New Director of Europe, Middle East and Africa Investments

The Ontario Teachers’ Pension Plan has appointed private equity veteran Jo Taylor to the post of Managing Director for Europe, Middle East and Africa (EMEA). Taylor will also head the pension fund’s London office. From an OTPP release: In his new role, Mr. Taylor retains primary responsibility for Teachers’ Private Capital and private ...
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NYC Pension Appoints New Heads of Private Equity, Hedge Fund Investments

The New York City Bureau of Asset Management – the entity that manages assets for the city’s retirement systems—has appointed two staffers to head its private equity and hedge fund investments, respectively. The backgrounds of the appointees, from Chief Investment Officer: Effective immediately, NYC’s comptroller appointed Alex Doñé as head ...
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Siedle: For Pension Funds, Private Equity Deals Can Come With Baked-In Conflicts of Interest

Over at Forbes, the “pension detective” Ted Siedle has penned an extensive column delving into the contractually-permitted conflicts of interest that can accompany private equity deals. He hones in on Bruce Rauner and his firm, GTCR, which handled assets for numerous pension funds. Rauner and GTCR encapsulate the secrecy and potential conflicts ...
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New York Comptroller Candidates Spar Over Private Equity Pension Investments

In the race for New York State Comptroller, incumbent Thomas DiNapoli is guarding a comfortable 20-point lead in the polls. But his challenger, political unknown Bob Antonacci, isn’t holstering his guns quite yet. Both candidates over the weekend sparred about the place of private equity in New York’s pension portfolio. Under DiNapoli, New York’s ...
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Louisiana Teacher’s Pension Defends Private Equity Investment With Carlyle

The New York Times recently obtained a copy of private equity limited partnership agreement that demonstrated how opaque the world of private equity is. The agreement in question was for the Carlyle V fund – a fund that, as Pension360 covered, many public pension funds have invested in. One such fund is the Teacher’s Retirement System of Louisiana, ...
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Redacted Document Demonstrates Secrecy Surrounding Pension Funds and Private Equity Investments

  The New York Times recently obtained a copy of a private equity limited partnership agreement from Carlyle Partners, and the document offers outsiders a rare peak into the opaque world of private equity investments. [Document can be viewed at the bottom of this post, or by clicking here.] The document is heavily, heavily redacted, but it’s ...
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Some Private Equity Firms Want More Opacity In Dealings With Pension Funds

Private equity firms are growing uncomfortable with the amount of information disclosed by pension funds about their private equity investments. PE firms are cautioning their peers to make sure non-disclosure agreements are in place to prevent the public release of information that firms don’t want to be made public. Stephen Hoey, chief financial ...
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