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Thanks! Met Our Sixth Goal, On to Our Seventh: More Original Reporting

Help fund what we most like to do, but find hardest to get to: original reporting. ....

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Smear Campaigns Work: Pro-Transparency Board Member Margaret Brown, Candidate Tiffany Emon-Moran, Both Lose CalPERS Board Election

Be careful what you want. CalPERS is unlikely to see its life get easier now that it has finally rid itself of dissident board members. ....

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CalPERS Making It Impossible to Hire Competent Chief Investment Officer

CalPERS seems determined to dig its hole deeper. In early August, its Chief Investment Officer Ben Meng resigned abruptly after this site exposed him having made a billion dollar commitment to a Blackstone fund when he also owned shares in Blackstone. Even before Meng departed, both CalPERS employees and outsiders were questioning his competence; two former colleagues, who provided specifics, further claimed that Meng had misrepresented his investment experience. His errors, such as offering nonsensical justifications for cancelling a tail risk hedge right before it would have delivered a billion dollar payday, suggested the critics’ views were well-founded.
So here it is…..January….and CalPERS, despite saying hiring a new CIO was an urgent priority, has admitted it is nowhere. ....

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