Posts filed under “Venture Capital”
However much anyone is shocked, they really shouldn’t be. That’s because the high cost of hiring outside money managers to oversee the city’s retirement assets was entirely predictable. As Bloomberg reported in 2013, New York City is “the only one of the 11 biggest U.S. public-worker pensions that refuses to manage any assets internally.” That alone suggests that the city is paying disproportionately high fees compared with pensions that manage some or all of their funds in-house.
The highest cost investments the city has are its $9.72 billion in private equity and $3.34 billion in hedge funds. The $160 billion retirement system pays fees of more than $360 million a year to outside money managers. That’s a big deal.
But a big surprise? Not even close.
Continues here: Hey New York, Check Out Calpers
The future of new business is disrupting old businessBarry RitholtzWashington Post, February 1 2015 There are many lessons to be learned from Uber, the taxi- and car-hailing start-up that came out of nowhere and is valued at $41 billion. Less than three years ago, Uber had zero drivers. Now it has more than…Read More
> My Sunday Washington Post Business Section column is out. This morning, we look at future of business, and the role disruption of entrenched interests is going to play. The print version had the full headline “On Uber and the business model of disruption” while the online version is merely The future of new business is disrupting…Read More
Barron’s notes that Q3 2014 has been good to Private Equity firms: $50 billion: U.S. private-equity fund raising in the second quarter, a near doubling from the first quarter -3%: sequential decline in total equity financing for U.S. leveraged buyouts $440 billion: callable capital reserves, or “dry powder,” rose to this level sequentially -21%: decrease…Read More
Category: Venture Capital
World Startup Report research on the biggest Internet companies across 50 countries. The insights that will make you look outside Silicon Valley and the US. Things to Know about the World of Internet Companies Internet Hall of Fame: Things to Know about the World of Internet Companies from World Startup Report
Last summer in Boston, the Trustee Leadership Forum for Retirement Security held its annual meeting at Harvard’s Kennedy School. Trustees and representatives of various state pension funds listened to explanations about the challenges facing endowments and pension funds. The conference is an attempt to explain why so many state pensions are underfunded and underperforming. The…Read More
“Why Uber just might be worth it at $18 billion‘ It’s all anybody talks about, other than Airbnb. This exalted status used to be occupied by music. How did this happen? Interestingly, Travis Kalanick, Uber’s majordomo, used to be in the file-trading business, with a company called Scour, you know how that turned out, the…Read More