Ex-SEC Attorney Funding Investigation Of CalPERS Via Kickstarter

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Ex-SEC Attorney Funding Investigation Of CalPERS Via Kickstarter

It was big news when a senior exec the California Public Employees’ Retirement System (CalPERS) commented that the pension fund did not know exactly what it was paying some of its Wall Street managers for their services.

When Wylie A. Tollette, the chief operating investment officer, reported to an investment committee earlier this spring that the fees CalPERS paid to private equity firms were “not explicitly disclosed or accounted for. We can’t track it today,” it kicked off a firestorm.