Then last week, nine of the coalition's leaders wrote over 240 executive directors and CEO's of many of this country's largest public pension funds and private mutual fund families, as well as all fifty state treasurers.
For Feinberg and Cerberus, one way around this problem was to invest in an industry that most pension-fund backed private equity firms dared not touch.
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Meanwhile the Pension Protection Fund (PPF) has calculated that the UK's private sector company pension schemes moved back into surplus in July.
No private business is allowed to loot surpluses in its pension fund for current operating income.
Unbeknownst to most American investors, significant portions of their public pension, mutual fund, life insurance and private portfolios are comprised of stocks of privately held companies that partner with state-sponsors of terror.
One board member at a statewide pension fund told me that many fellow directors maintained private accounts with the fund's consultant.
Central to that is cleaning up the military pension fund, which has been used as a private piggy bank by senior officers.
The institutions involved in the claim are understood to include 20 charities as well as churches, pension funds, hedge funds, fund managers and private client brokers.
Pension-fund investors complain that these can lead to huge differences in different private-equity shops' valuations of similar stakes in the same company.
The buyout group would include the private-equity firm, at least one other investor such as a pension or sovereign wealth fund, and Mr. Dell, this person said.
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For example, the Pension Protection Fund (PPF) will provide some new protection for members of private sector defined benefit schemes, where the employer is insolvent and the scheme is under-funded.
The Wall Street Journal has reported that CalPERS, America's largest public-pension fund, has been selling shares to meet commitments to put more money into private-equity firms.
Unlike conventional mutual-fund investors, who often seek dramatic returns, people making monthly contributions to private pension accounts, such as the 401(k)s offered by many American companies, will rely on diversification and compounding for long-run returns.
At first glance, investing in a private equity fund looks like a good deal as investors get a seat at the table with institutional investors like pension funds.
In Chile, a private-sector pension scheme, funded by mandatory contributions, now channels a tenth of most workers' pay into the fund of their choosing.
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