New Mexico’s governor Bill Richardson ordered the state’s $11.8bn oil and gas endowment to suspend investing in private equity and real estate while the endowment reviews investment recommendations made by Aldus Equity. Recommended commitments to Landmark Equity, Newstone Capital, Veronis Suhler Stevenson and Ares Management will have to go through a 'vetting' process again.
2 min read · 05 January 2013
Thomas DiNapoli, New York's comptroller in charge of the $122bn New York State Common Retirement Fund, seeks reimbursement of more than $5m in fees paid and other damages from Aldus. The Dallas-based firm is accused of taking part in a kick-back scandal involving the New York Common.
3 min read · 05 January 2013
Steve Moseley, who joined private equity advisor StepStone in 2008, said he is not a target of the ongoing pay-to-play investigation, but cited as a ‘distraction’ media reports about a co-investment platform created for New York’s state pension while Moseley was at a separate advisory firm.
3 min read · 05 January 2013
The $11.5bn pension is facing a 'severe' liquidity crisis and is looking to credit opportunities to provide much-needed cash flow.
1 min read · 05 January 2013
The largest pension in the US has charged its staff with creating a disclosure policy for placement agents and their fees after it was revealed that CalPERS has ties to a kick-back scandal involving the New York State Common Retirement Fund.
3 min read · 05 January 2013
The Oregon Investment Council is asking GPs to reduce management fees, avoid charging transaction, monitoring and other deal fees, as well as to take carry only after 100% of all capital is returned to investors. It also wants LPs to have greater power to dissolve funds, remove the GP and suspend or terminate commitment periods.
3 min read · 05 January 2013
Quadrangle has chosen to pay for any and all costs that arise from investigations related to the New York State Common Retirement Fund kick-back scandal, in which the firm has some involvement, writes Christopher Witkowsky.
3 min read · 05 January 2013
The placement agent, co-founded by AVP executives Vicky Schiff and Peter Borges, paid ‘consulting’ fees to the firm run by Henry Morris. Morris is now under investigation as part of the growing kick-back scandal involving the New York State Common Retirement Fund.
2 min read · 05 January 2013
The state’s comptroller, Thomas DiNapoli, has banned the use of placement agents in investments with the $122bn pension, and has launched a review of pension investments with firms involved in the New York Common kick-back scandal.
3 min read · 05 January 2013
Los Angeles placement agent Wetherly Capital paid ‘consulting’ fees to the firm run by Henry Morris, now under investigation as part of a growing kick-back scandal involving the New York State Common Retirement Fund. A director with Wetherly, Vicky Schiff, in 2005 sat on LACERS’ board of commissioners while the pension was considering investing in a Wetherly client.
2 min read · 05 January 2013
