CalPERS
Carried interest reform sweeps across Europe
As many European governments impose austerity measures, there is a growing demand for a crackdown on loopholes enabling the wealthy to reduce their tax bills. This has led to a re-examination of the rules surrounding carried interest and several major...
CalPERS appeals for higher capital gains tax
Joe Dear of CalPERS has voiced his support of an increase in capital gains tax that would hit the private equity industry.
CalPERS appoints new private equity investment executive
The California Public Employees’ Retirement System (CalPERS) has appointed Real Desrochers as its new private equity investment executive.
Much ado about very little
Last year was clearly a time for reflection, as record losses prompted many investors to rethink their strategies. GPs paused to concentrate on portfolios and LPs reassessed their manager selections – with some taking it a step further and reviewing...
CalPERS private equity manager steps down
Leon Shahinian stepped down as head of the private equity portfolio at CalPERS amid a fraud lawsuit.
From recession to concession
With 2009 going down as one of the worst private equity years in history, investors looked on to 2010 knowing things could only get better – and so they have.
Fees: GPs surrender to LPs
After years of GPs and LPs operating under a standard relationship model, asset managers are beginning to balk under the LP pressure for increased transparency and fee reductions as institutional investors become more aggressive in cutting costs. Gail...
LPs make their move at ILPA meeting
The private equity world used to be run by GPs. There is now abundant evidence that this is no longer the case, as LPs are beginning to dictate terms. A meeting between buyout chiefs and their investors in New York today could lead to further change....
CalSTRS appoints director of private equity
CalSTRS, the California State Teachers' Retirement System, has named Margot Wirth as director of its $16.8bn private equity portfolio.
LPs throw out the old for the new
It is now common knowledge that fundraising for private equity funds this year will be tough to say the least. Many, however, do not realise just how tough. News reports this week suggest that LPs are now considering severing ties with some GPs altogether...
California mis-places the agents
CalPERS, CalSTERS trickier to access – but for the wrong reasons, reports Kimberly Romaine