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Keyword: placementagent
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CalPERS loses $475 million on investment that paid controversial placement agent millions
CalPERS says it has lost $475 million on an investment that yielded controversial placement agent and former CalPERS board member Alfred Villalobos his biggest single payday. The loss is based on June 30 figures and appears to have shrunk somewhat in the months since. Because the loss is still on paper, it could rebound some more before CalPERS chooses to sell it. .. The pension fund said its equity investment in New York financial giant Apollo Global Management had fallen to an estimated $124.6 million as of last June, the latest figures available. Cal-PERS paid $600 million for the investment...
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