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Calpers’s Disclosure on Fees Brings Surprise, and Scrutiny

Business & Finance : DealBook

Edward A.H. Siedle, a pension fraud investigator, is seeking to investigate Calpers to determine how much it pays in private equity fees.

NY Times’ Gretchen Morgenson Discusses More Layers of Private Equity Fee Chicanery

Business & Finance / Economics : Naked Capitalism

Investors in private equity like public pension funds have no idea how much they are paying in costs and fees. That allows for excessive costs and chicanery to continue.

CalPERS Scrambles to Get Private Equity Carry Fee Info After We Break Story That They Had No Clue What They Were Paying

Business & Finance / Economics : Naked Capitalism

CalPERS takes some steps to clean its private equity house by getting carry fee information, but only by virtue of feeling serious external pressure. And the way it responded show that the rot runs deep.

CalPERS Board Discussion of Fees Exposes Naivete, Misguided Aim of Fee Reduction Effort

Business & Finance / Economics : Naked Capitalism

Today, the Financial Times has a prominent article on how the giant public pension fund and private equity investing heavyweight CalPERS has a new push on to reduce the fees that it pays to private equity firms. This would all be sa...

CalPERS Admits It Has No Idea What it is Paying in Private Equity Carry Fees

Business & Finance / Economics : Naked Capitalism

We are not making it up. Private equity limited partners like CalPERS have no idea what they are paying in carry fees, one of the biggest costs they incur.

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