What’s Next in CalPERS Suit?

Will CalPERS be forced to reveal the performance of all the private equity funds in its portfolio?

Yes. That is, unless a general partner (GP) argues that his fund’s IRR is a trade secret. Here, the burden of proof lies with CalPERS and its GPs. A referee will hear arguments and submit his recommendations on a case-by-case basis to San Francisco Superior Court Judge James Robertson, who will make a final decision during a Jan. 30th hearing in San Francisco.

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