Are Pensions Being Gamed By Private Equity?

An article from BloombergBusiness says the answer is “yes.” The private equity industry is shrouded in secrecy, to the detriment of investors, according to co-writers Neil A Weinberg and Darrell Preston. They cite SEC findings that more than half of private equity funds tacked on fees not disclosed to clients, and they say that documents which the industry resists producing, on the grounds they are trade secrets, contain information that has “as much to do with high fees, weak oversight, and conflicts of interest as it does with business strategies.”