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Canada’s Pension Funds Perform, at a Cost?

5 April 2010 – 6:55 am PDT

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Janet McFarland of the Globe & Mail reports, Canada’s pension funds perform, at a cost: It’s a Canadian success story that has garnered little attention at home, but a strong following abroad: the performance of the country’s biggest public sector pension funds. Big public sector pension funds in Canada are outperforming their U.S. peers, and [...]

Pension Funds Still Waiting for Big Payoff?

2 April 2010 – 9:05 pm PDT

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Jenny Anderson of the NYT reports, Pension Funds Still Waiting for Big Payoff From Private Equity: Private equity deal-makers, those kings of corporate buyouts, made billions for themselves when times were good. But some of their biggest investors, public pension funds, are still waiting for the hefty rewards they were promised. The nationâ€™s 10 largest [...]

Pension Funds Still Waiting for Big Payoffs?

2 April 2010 – 8:55 pm PDT

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Pension Funds Still Waiting for Big Payoffs?

Jenny Anderson of the NYT reports, Pension Funds Still Waiting for Big Payoff From Private Equity: Private equity deal-makers, those kings of corporate buyouts, made billions for themselves when times were good. But some of their biggest investors, public pension funds, are still waiting for the hefty rewards they were promised. The nationâ€™s 10 largest [...]

CalPERS Battles Blackstone on Middlemen

1 April 2010 – 4:40 pm PDT

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Marc Lifsher of the LA Times reports, CalPERS and Blackstone Group battle over proposed ban on contingency fees paid to intermediaries: Legislation to ban commissions paid to intermediaries for steering California’s public pension money to investment houses has spurred a lobbying war led by Wall Street’s powerful Blackstone Group, allied with such major banking firms [...]

Have We Entered the Twilight Zone?

31 March 2010 – 8:50 pm PDT

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On January 25, 2006, Phillip Bowring wrote this op-ed piece in the NYT on pension liabilities: A remarkable if obscure event last week highlighted the potentially colossal impact on the global economy of the collision of two forces: the pension needs of aging populations throughout the developed world and the collapse of long-term interest rates. [...]

Greek-Style Financial Crisis Hitting U.S. States?

30 March 2010 – 7:20 pm PDT

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Mary Williams Walsh of the NYT reports, State Debt Woes Grow Too Big to Camouflage: California, New York and other states are showing many of the same signs of debt overload that recently took Greece to the brink â€” budgets that will not balance, accounting that masks debt, the use of derivatives to plug holes, [...]

Are Pension Liabilities Set to Explode?

29 March 2010 – 7:20 pm PDT

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Gina Chon of the WSJ reports, Gurus Urge Bigger Pension Cushion: Government-pension problems, widely considered bad, may actually be even worse. That is the assessment of some experts who maintain that the current rules of number crunching for state and local governments make retirement-benefit obligations seem lower than they really are. Soon, their view may [...]

David Dodge Calls for Pension Reform

28 March 2010 – 12:28 pm PDT

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Janet Taber of the Globe & Mail reports, David Dodge Calls For Pension Reform: Former Bank of Canada Governor David Dodge is adding his voice to the debate over pension reform, calling today for a voluntary component to the Canada Pension Plan. Speaking at the ‘Canada 150: Rising to the Challenge’ conference in Montreal this [...]

Private Equity’s Unwelcome Intruder?

28 March 2010 – 12:28 pm PDT

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Hester Plumridge reports in the WSJ, Private Equity’s Unwelcome Intruder: The Ontario Teachers Pension Plan has just beaten European buyout firm CVC Capital Partners to the chase to buy U.K. lottery operator Camelot Group. While the Â£389 million ($576.4 million) deal may be relatively small, it could be the start of a wider trend. Pension [...]

A Greek Sigh of Relief?

28 March 2010 – 12:28 pm PDT

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Ambrose Evans-Pritchard reports in the Telegraph, Europe agrees IMF-EU rescue for Greece: After weeks of discord, Europe’s leaders have agreed to an emergency facility for Greece backed by the International Monetary Fund and bilateral loans from eurozone states. The accord was vague on figures and aid can be invoked only as a “last resort” if [...]