Regulation

Lehman Aims to Impede CalPERS' Rival Liquidation Plan

Lehman Brothers Holdings, which went bankrupt September 2008 with $639 billion of assets, is asking a judge to delay a liquidation plan hearing drawn up by bondholders including CalPERS and the hedge fund Paulson & Co.

Madoff Feeder Fund Sues ADIA

A feeder fund that invested in the Ponzi scheme of Bernard Madoff has sued the Abu Dhabi Investment Authority to try to recover $300 million in redemption payments, Bloomberg is reporting.

REITs Overhaul Attracts UK Insurers and Pensions

The British Property Federation has said that changes to the UK’s Real Estate Investment Trust (REIT) regime will remove major barriers to large scale investment in residential real estate by institutions such as pension funds.

LDI 2.0

From aiCIO Magazine: Is there a better way to implement liability-driven investing?

CalPERS Lambastes $180 Million in Placement Agent Activity

The nation's largest pension has released a special 56-page review on placement agent activity, accusing a former chief executive and two former board members of steering billions of dollars to politically connected firms; refuses rate-of-return cut.

Mini-Madoff Pleads Guilty in Ponzi Case

Francisco Illarramendi has pleaded guilty to five criminal counts after US prosecutors accused the Connecticut hedge fund manager of running a multiyear Ponzi scheme that may have defrauded investors out of hundreds of millions of dollars.

PIMCO's El-Erian Says the Fed Must Exit QE2

Mohamed El-Erian, CEO and co-CIO of the Pacific Investment Management Co. (PIMCO), told CNBC that the US economy must learn how to survive independently, without artificial stimulus.