Blackstone Group spokesman Peter Rose called out limited partners recently while explaining the firm’s lack of disclosure around accelerated monitoring fees. He’s exactly right in pointing out that LPs sat idly by when told the firm accelerated fees even though it never mentioned the practice in the limited partnership agreement. Blackstone earlier this month settled […]
Let’s act like adults, please. A recent dust-up at the California Public Employees’ Retirement System between a board member and private equity investment staff has officially moved into the realm of the absurd. Now, I’m never one to object when things turn absurd — it keeps life interesting. But in this case, I’m objecting because the […]
I have a modest proposal for the folks over at the California Public Employees’ Retirement System, who have been taking quite a drubbing lately.
Recently, we got the sad news that Michael Beblo, director of alternative investments at the Pennsylvania State Employees’ Retirement System, died after heart surgery. He was just 62.
One thing I love about a newsroom is the spontaneous debates that spring up among reporters and editors. It’s part of the energy of a place where everyone’s job is to ferret out the most relevant facts and have a keen nose for BS.
Private equity has changed since the Great Financial Crisis. Evolved, you might say.
PE fund managers should not be able to cut their taxes by disguising their salary income as capital gains, argues guest columnist Eileen Appelbaum of the Center for Economic and Policy Research.
Torys LLP's Sophia Tolias, Stefan Stauder and Laurie Duke argue that the structure of Canadian private equity deals has changed due to the influence of 2014's seller's market. In the third of a series of peHUB Canada articles, they note that indemnity terms and the growing use of representations and warranties insurance are just two important examples of this trend.
I find it strange TPG Capital’s bridge fund was not drawn. TPG last year raised TPG Strategic Partnership Interim Fund designed only for the most intimate of TPG investors. The firm raised $2 billion from, as I understand it, three LPs – the state pensions of Oregon and Washington State and a sovereign wealth fund. […]
Torys LLP partners Neville Jugnauth, Derek Flaman and Matthew Cockburn believe that the scope of private equity investment in Canada was widened in 2014 to include some areas of new or intensified interest, such as natural resources. In the second of a series of peHUB Canada articles, they argue that this broader market focus, and alternative strategies for doing new deals, will continue in 2015.