The $8.2bn Los Angeles City Employees’ Retirement System will invest 90% of its portfolio in closed-ended commingled funds, primarily with core and value-added managers.
2 min read · 24 January 2013
The placement agent has denied he 'gave, accepted and failed to disclose gifts' to senior pension executives, after being charged with allegedly 'attempting to bribe' CalPERS official Leon Shahinian.
2 min read · 24 January 2013
Property markets in the US have not corrected, despite the high prices gained in some recent landmark deals. However, fund managers are in danger of investing capital ‘out of sheer boredom of not doing deals’.
2 min read · 24 January 2013
Leon Shahinian, the 12-year pension veteran described as ‘honest’, has been placed on leave after allegations he failed to disclose a lavish trip paid for by placement agent Alfred Villalobos.
4 min read · 24 January 2013
Leon Shahinian, the 12-year pension veteran described as ‘honest’, has been placed on leave amid a burgeoning pension scandal in California.
4 min read · 24 January 2013
The $138bn pension has joined its neighbour CalPERS in supporting legislation that would prevent the two funds from investing with real estate managers who try to convert rent-controlled apartments. CalSTRS staff will also consider possible penalties for GPs who abuse the ban.
2 min read · 24 January 2013
Ping An Insurance has received regulatory approval to purchase TPG’s 17% stake in Shenzhen Development Bank. The acquisition will be paid in Ping An shares and looks set to make TPG at least an 8x return on its initial investment.
2 min read · 24 January 2013
Responding to administrative burdens, the State of Wisconsin Investment Board is seeking a consultant to help the pension monitor its sprawling private equity portfolio.
2 min read · 24 January 2013
The attorney general of California today filed a civil suit against placement agent Alfred Villalobos and a former CalPERS board member. In addition, the head of the pension’s giant alternative investment programme has been placed on administrative leave.
2 min read · 24 January 2013
The attorney general of California today filed a civil suit against placement agent Alfred Villalobos and a former CalPERS board member. In addition, the head of the pension’s giant alternative investment programme has been placed on administrative leave.
2 min read · 24 January 2013
