News & Analysis

Leon Shahinian, the 12-year pension veteran described as ‘honest’, has been placed on leave amid a burgeoning pension scandal in California.

Former US Treasury Secretary Henry Paulson said at a conference last week that he does not support the Volcker rule, nor does he believe it would have saved any failed banks during the financial crisis.

The EU Parliament’s Economic and Monetary Affairs Committee was scheduled to vote on a final version of the controversial AIFM Directive, but the vote was delayed one week for procedural reasons.

The $138bn pension has joined its neighbour CalPERS in supporting legislation that would prevent the two funds from investing with real estate managers who try to convert rent-controlled apartments. CalSTRS staff will also consider possible penalties for GPs who abuse the ban.

Private equity firms in the UK feel that potential changes to the way capital gains are taxed could endanger the country’s position as an industry hub.

Preferred terms and conditions put forward by the LP trade association are increasingly finding their ways into partnerships, especially terms for deal fees and governance.

The Private Equity Council’s president, Doug Lowenstein, said at a conference Wednesday a tax hike on carried interest is likely to pass – and it’s just one of several tax measures that will hit GPs in the wallet.

Placement agent Alfred Villalobos is facing a civil suit, while the head of the pension’s alternatives programme has been placed on leave.

James Gee of Clifford Chance examines the critical legal issues pertaining to private equity investing. An excerpt from PEI Media's new book: The Definitive Guide to Risk Management in Private Equity: A comprehensive intelligence source for investors, fund managers and professionals who need to manage risk.

The attorney general of California today filed a civil suit against placement agent Alfred Villalobos and a former CalPERS board member. In addition, the head of the pension’s giant alternative investment programme has been placed on administrative leave.