What happens when pensions wake-up to the fact that PE excess returns are zero after adjusting for all risks? https://finance-commerce.com/2019/12/peak-private-equity-fears-spread-across-pension-world/
Slowing exits lead to reduced carried interest payments. Is this indigestion from overpriced deals? Will it lead to markdowns? Yet Calstrs needs to keep feeding the Private Equity beast. https://www.penews.com/articles/calstrs-carried-interest-payments-to-private-equity-managers-fall-as-exits-slow-20191107
This article raises 3 key issues related to private equity – 1) when there is a failed IPO do the PEs mark down the private valuation on the assumption that failed IPO implies that private value is too high?, 2) what is the process to ensure private sales and/or swaps are properly valued and arm’s …
UK pension annuities under threat as rates plummet https://www.theguardian.com/money/2019/sep/14/uk-pension-annuities-under-threat-as-rates-plummet?CMP=Share_AndroidApp_WordPress
Kent’s pension advisers criticised over role in Woodford saga Yet more investment “experts” exposed in Woodford saga. https://on.ft.com/2SpIF4v via @FT
Gold-plated dilemmas for half a million who opted for pension freedoms – https://www.ft.com/content/8fa0a984-2613-11e9-b329-c7e6ceb5ffdf via @FT
The Deal Hidden in Your 401(k) https://www.wsj.com/articles/the-deal-hidden-in-your-401-k-11559917801
MPs urge ‘urgent action’ to protect pension scheme members – https://on.ft.com/2VJFeuq via @FT
Poland to Shift $43 Billion to Private Pension Accounts https://www.bloomberg.com/news/articles/2019-04-15/poland-to-move-43-billion-of-pension-assets-to-private-accounts
State pension age changes ‘risk creating new inequalities’ https://www.theguardian.com/society/2019/apr/15/state-pension-age-changes-risk-creating-new-inequalities?CMP=Share_AndroidApp_WordPress