At issue: allegations of unreported stock transactions and also his holdings in three private equity firms the plan invested in, including Blackstone and Carlyle.
Alert of higher fees charged comes as Department of Labor clears way for PE in 401(k)s.
Tumbling equity markets helped weigh down retirement system’s returns.
Private equity isn’t always a market beater and charges high fees. Besides, it’ll be confined to larger investment pools, like target-date funds, which limits its impact.
Prospects for exits, money-raising, and new deals dim amid the scary economic slide.
