Tag: Ben Meng
At issue: allegations of unreported stock transactions and also his holdings in three private equity firms the plan invested in, including Blackstone and Carlyle.
The pension plan is still intent on building its own private equity organization.
However, new co-investment program won’t be discussed this month as expected, and the fate of proposed direct-style private equity program also remains unclear.
CalPERS stopped its co-investment program in 2016. Now CIO Ben Meng wants a restart.
Greg Ruiz, who has family ties to the fund, will take over from interim Sarah Corr.
New CIO Ben Meng says system can’t access ‘private equity exposure on the scale that we need.’
The largest US pension plan aims to break new ground with a program to expand its private equity asset class.