Calsters: Private Equity Not Greedy Enough

The WSJ reports that some large public-employee pension funds are less than impressed with the returns generated by certain large buyout firms.  The California State Teachers’ Retirement System in particular is alarmed by the paltry returns, which reduce the system’s overall rate of return and magnify the extent of its underfunding.  It’s amusing to watch these loyal Democrat constituents pivot from attacking private equity for being heartless capitalists to attacking it for not making enough money.  Apparently the only thing worse than getting into bed with greedy, rapacious private-equity types is waking up to discover that they are not nearly as rapacious as you hoped.

About Conrad

Conrad O'Connor is the nom de web of a tax lawyer working in Atlanta, Georgia.
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