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The largest US pension system has launched its effort to replace current chief executive Anne Stausboll, offering a six-figure salary and a sizeable yearly bonus.
Concern about the next generation of key people is forcing LPs to ask more questions about succession during due diligence.
The firm now has €46bn in assets under management, more than half of which is in private equity assets.
Private fund managers’ fee and expense allocation practices will continue to be an SEC focus area as the agency targets never-before-examined advisers in the year ahead.
Regulatory uncertainty and higher compliance costs are capping enthusiasm for the pan-EU marketing passport, according to panelists at an industry conference.
The guidelines, which are the standard of choice for private equity chief financial officers, were last published in 2012.
SEC inspectors are reaching out directly to investors, asking about their interpretations of certain LPA items, according to panellists at the 2015 PE/VC Finance and Compliance Forum.
At its latest investment committee meeting, the pension’s investment staff presented an elementary private equity cashflow example, prompting tough questions from board members.
The multi-manager arm of CBRE Global Investors has changed its name to CBRE Global Investment Partners to reflect its expanded scope.