peHUB Second Opinion 9.15

CalPERS Approval: CalPERS has endorsed the ILPA’s principles aimed at improving fairness and transparency in the private-equity industry. (Dow Jones)

To Shrink or Not To Shrink: One’s fund, that is. Only a few have reduced already-closed funds, almost a year after we started calling for it. Will more go the route of the smaller fund? (FT)

Did Lehman Die Because Warren Buffett Doesn’t Know How to Check His Voicemail? Might not be as ridiculous as it sounds. Bloomberg reports that Buffett was asked to back Lehman Brothers, but he didn’t get the information he wanted and learned that he wasn’t able to check a voicemail on the subject because he doesn’t know how… (Clusterstock)

BusinessWeek Not A Great Business: BusinessWeek lost more than $43 million last year…. A buyer would also have to assume much of the $31.9 million in debt. (Dealbook) But it plans to reduce headcount by 20%. (Reuters)

Stupid Fees: Breaking down the fees Bain Capital will get on the Dollarama IPO. (The Globe and Mail)

Markets Have Bounced But Private Equity Has Not: Especially in the case of 31. (FT Alphaville)

Sears Needs Help: And it’s likely seeking that by appointing a buyout pro to its board… (Chicago Tribune)

How High Can The Market Go? Not much higher. (Forbes)

Too-Big Banks Can Take Comfort in Obama’s Math: This is the kind of math that helped get Lehman into so much trouble. It’s called cherry-picking. (Bloomberg)