Last week, we noted an Israeli press report that Markstone Capital Partners was near a settlement with New York AG Andrew Cuomo, over its role in the state’s pay-for-play scandal.

Cuomo’s office declined to comment at the time, but today announced that the report was legit. Israel-focused Markstone will pay back $18 million in fees related to a $250 million investment from the New York State Common Retirement Fund into Markstone’s debut fund. It also has signed Cuomo’s “code of conduct,” which basically promises not to use placement agents for future fundraising efforts in the U.S.

Not sure how much that last part matters, considering that: (A) I really can’t imagine Markstone raising another fund, and (B) If Markstone does try to raise, it could focus on investors in Israel, where the code of conduct has no legal bearing.

Last month, CalPERS sent peHUB a list of private equity firms that used placement agents when pitching their funds to pension officials. It included the fund name, placement agent name and whether or not CalPERS invested. It also claimed to represent proposals received by CalPERS between the beginning of 2002 and the end of 2008.

What I’ve since learned, however, is that the list was woefully incomplete.

Take the example of Wetherly Capital Group, which we wrote about earlier today. CalPERS reported that it pitched 10 funds between 2002 and 2008, receiving six commitments (a steroid-induced batting average). But according to new documents obtained by peHUB, Wetherly actually pitched approximately 30 funds during that period — including a couple of “missing” ones that received investments from CalPERS.

Yesterday, I asked peHUB wire readers to name the placement agent (not Aldus Equity) that has effectively shut down, largely due to the pay-to-play scandal. It seems that the answer is a bit more complicated than I had originally understood. The firm I was thinking about was Wetherly Capital Group, the Los Angeles-based shop whose ex-employee [...]