California has become the latest state to regulate the use of placement agents who help investment managers secure government pension fund money. (Or is that placement agents who help government pension fund money find suitable investment managers?) California Assembly Bill 1743 was backed by the California Public Employees’ Retirement System, the state treasurer and the [...]
Tag Archives: CalPERS
California Proposes Having Placement Agents Register
Placement agents would have to register as lobbyists under legislation proposed by Assemblyman Ed Hernandez (D-West Covina). The legislation would define placement agents as lobbyists in accordance with the state’s Political Reform Act. Placement agents would have to register as lobbyists before pitching investment ideas to public pension plans in California. It seems like the [...]
California Regulates Use of Placement Agents
California has followed the lead of New York and started regulating the use of placement agents. California’s law requires placement agents to disclose contributions and gifts made to state and local pension and retirement board members, as well as information about the placement agent’s compensation, the services provided, and any lobbying or regulatory registrations. The [...]
Is CalPERS a Sovereign Wealth Fund?
Ashby H. B. Monk wrote Is CalPERS a Sovereign Wealth Fund? (He ends up saying no.) Sovereign Wealth Funds have come under increased scrutiny with countries concerned that an investment by a SWF could be used as a political tool and not a mere investment. The underlying concern is that many of the SWFs come [...]
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