Yucaipa fund companies work closely with union pension funds and CalPERS, the nation’s largest public pension fund with assets totaling $147 billion.
“Obviously, CalPERS can not allow Bill Clinton, who admitted to lying to a court and a grand jury and who has been credibly implicated in crimes ranging from bribery (Chinagate, Pardongate) to bank fraud (Whitewater), to have any involvement with how its pension and health funds are invested.
To have a suspended lawyer manage its investments is contrary to the fiduciary duties CalPERS has to the hundreds of thousands of California state employees whose pension and health care funds CalPERS is supposed to protect,”