Fortune Magazine’s Roger Lowenstein thinks complex and opaque alternative investment methods, advanced by “pricy consultants,” are what's wrong with public pension fund investing.
Recently a public information request made in regards to the fees paid by the Iowa Public Employees Retirement System to KKR & Co. L.P. (NYSE:KKR) has causes a fuss. KKR is suing the Iowa pension fund, demanding that the fees it charges not be released to the public.
Iowa pension fund is supporting KKR
Perhaps most chilling is the Iowa pension fund is supporting KKR, as the general counsel is supporting KKR and fighting the public request. This little incident says volumes about what is wrong with American public pension fund investing, Lowenstein opines.
Although he didn’t...
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