Laundry Room Chronicles: CalPERS and Pay-to-Play

CalPERS later this week is expected to release several documents related to placement agents who tried — and in some cases succeeded — in getting private equity fund commitments from the pension system. Nothing untoward in that, except that at least one CalPERS board member is being investigated, in part, for accepting campaign contributions from a placement agent who happened to have a batting average that would have made Ty Cobb blush.

Some thoughts, from the laundry room studio: