California Public Employees' Retirement System related stories
All articles and analysis
Friday Letter Milli VanilliBargain-basement deals for outdated, out of favour music albums bear a striking resemblance to a growing segment of the private equity market.
- Friday Letter: Fighting fractions
The dreaded denominator effect appears to be manifesting itself and shrinking the private equity allocations of LPs – and not just the little guys.
- Friday Letter: Keeping the faith
Two of private equity’s most influential investors this week reported staggering losses in their private equity portfolio values. But their dedication to the asset class remains unwavering.
- Friday Letter: 'You're the only one asking for this'
PEO explores why this line from reticent GPs may no longer deter an LP from pressing hard on fund terms.
- Friday Letter Pensions, speak out now for placement agents
A proposed ban on placement agent contact with US public pensions has yet to be adequately decried by the pensions themselves.
- Friday Letter Relationship scars
The SEC’s ban on unregistered placement agents is a step forward for the fundraising market, but it doesn’t erase scars left by the pay-to-play scandal. Meanwhile, controversy surrounding recent comments made by a Blackstone executive further highlights the complex relationship between private equity firms and one of their key sources of capital.
- Friday Letter Travelgate
The apparent public outrage over CalPERS staff travel makes us wonder: do California pensioners want their global assets managed by under-resourced homebodies?
- Friday Letter A glimpse of the future
CalPERS has elected to do away with traditional allocation labels, may push for performance-based fees and prohibit private equity advisors from also managing its capital. Is this a sign of something bigger coming over the horizon? And is it a good or a bad thing?
- Friday Letter Enough already: mega-fund bashing misses the point
As limited partners continue to debate the merits of large buyout funds, evidence grows that they may not turn out to be the poor performers some had assumed.
- Friday Letter: CalPERS’ AIM programme soars amid turmoil
Another year of outstanding private equity returns revealed this week by CalPERS serves as a reminder that the pension’s beleaguered investment team deserves some praise.