U.S. Public Pensions Showing Confidence In PE & VC
LP Perspective: U.S. Public Pensions Showing Confidence In PE & VC by Joanna Nolasco, PitchBook The past year has revealed a somewhat complicated relationship between U.S. public pension funds and their private equity managers. Reports began to circulate last summer that CalPERS–the largest U.S. pension fund—wasn’t sure how much its PE fund managers had collected in profit-sharing fees, claiming a lack of consistency in reporting; the oversight brought into question the true gains from those investments. Months later, the Institutional Limited Partners Association launched a fee-reporting template to imbue transparency into fund manager expenses. Following the stir around fees, CalPERS upheld its PE...
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