CalPERS touts declining PE fees, doesn’t factor in fund expenses

Calpers, private equity, pension fund, Wylie Tollette, Margaret Brown,State Sen. John Moorlach, State Sen. Mike Morrell
In April, the board of California Public Employees’ Retirement System praised a proposed budget that slashed $131 million from the annual fees the system pays to its private equity managers, bringing projected fees to $260 million. Unlike previous years, however, ...

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