New York City Comptroller: Ax Rule Forcing Private Equity to Pay Legal Bills
Mandate now forces PE operators to cover their own litigation tabs in disputes, instead of passing along the costs to NYC pension fund investors.
Manager Selection
Private Equity Firms Expect Wave of M&As in Second Half of 2021
The increased pace of COVID-19 vaccinations and the specter of a capital gains hike are expected to spur activity.
Breaking News: Kentucky Retirement Systems Names Steven Herbert New CIO
The asset manager and former consultant is the sixth investment chief to head the fund in about 13 years. He starts Jan. 16.
Kentucky Eyes Paying More to Fill Vacant Pension CIO Slot
Right now, the investment head can’t earn a salary above the governor’s $167,000, half what the chief could make elsewhere.
Judge Rules Sterne Agee Analyst Complicit in NY Pension Pay-to-Play Scheme
John Paulsen planned ski trip for New York state pension fund fixed-income director in exchange for business directed to firm.
How Investment Teams Waste Their Time
It would be better spent on due diligence, instead of meaningless scut work, say Backstop and Mercer.
Yale’s Swensen to Asset Managers: Hire More Women and Minorities
The decision to track investment firms’ progress would have a ‘seismic’ shift in the industry.
Pennsylvania PSERS Freezes Apollo Global Investments over Epstein Ties
State teachers’ pension fund has more than $900 million invested with Apollo.
Software Firm CEO Indicted in $2 Billion Tax Evasion Scheme
Robert Brockman allegedly used a web of offshore entities to hide private equity income from the IRS.
Mubadala Puts $2 Billion into Silver Lake for 25-Year Strategy
The fund has also taken a minority equity stake of less than 10% in the firm.
Top Canadian Pension Plan and US Apartment Operator to Build Brazilian Housing
The partners will invest up to $190 million in combined equity into the project.
PFA Asset Management CEO Steps Down Less Than a Year after Taking Over
Irene Holmslykke has been named as the new CEO of the Danish asset manager.
Maryland State Pension Receives $405,000 in LIBOR Restitution from UBS
The payout settles charges that the Swiss bank manipulated interest rate benchmark during the 2008 financial crisis.
Former Wilshire President Joins Rhode Island Treasury as CIO
Andrew Junkin will lead the state pension system’s investment operations after 15 years at the consulting firm.
Conducting Due Diligence During a Pandemic
Mercer-Backstop alliance allows asset allocators to kick the tires on investments remotely.