New budget omits PE fund expenses included in previous budgets
PE fund expenses totaled $75 mln in 2015-2016 fiscal year
State senators, board candidate question the shift
California Public Employees’ Retirement System approved a $1.68 billion budget that omits tens of millions in private equity expenses included in its previous annual budgets. The $322.5 billion retirement system’s budget for PE-management fees fell to $260 million for the 2017-2018 ...