Awhile back I wrote about the issues regarding CALPERS and CALSTERS being unable to calculate private equity fees. At the time I stated that it was almost a dereliction of duty that pension funds of this size and supposed sophistication could not address a very simple issue on fees paid.
Unfortunately, it gets worse. This Naked Capitalism blog post details how the head of Calpers Private Equity, at a public investment committee meeting, appears to fail to understand some of the basic structures of the private equity industry. Please click on the link and watch the videos; its quite frankly a train wreck. Please remember, Real Desrochers is responsible for upwards of $40 billion in private equity and venture capital commitments. The pensioners of California deserve better.
By Ashok Parekh
Unfortunately, it gets worse. This Naked Capitalism blog post details how the head of Calpers Private Equity, at a public investment committee meeting, appears to fail to understand some of the basic structures of the private equity industry. Please click on the link and watch the videos; its quite frankly a train wreck. Please remember, Real Desrochers is responsible for upwards of $40 billion in private equity and venture capital commitments. The pensioners of California deserve better.
By Ashok Parekh
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