Abstract

http://ssrn.com/abstract=2112594
 


 



Report of Independent Counsel to SEC: Placement Agent Abuses at Kentucky Retirement System


Christopher B. Tobe


Stable Value Consultants

Edward Siedle


Independent

March 12, 2012


Abstract:     
Findings are that KRS should seek to recover the millions in undisclosed placement agent fees paid by KRS’ managers from the placements agents and the managers. However, given the over $1.3 billion in KRS assets potentially involved, investment-related damages well in excess of the placement agent fees discovered to date likely exist and may be recoverable. The paper also finds that the previous review by the Kentucky State Auditor of Public Accounts was inaccurate and had numerous omissions.

Number of Pages in PDF File: 33

Keywords: public pensions, pension, state retirement funding, placement agents, hedge funds, private equity

JEL Classification: H55

working papers series


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Date posted: July 19, 2012 ; Last revised: December 21, 2012

Suggested Citation

Tobe, Christopher B. and Siedle, Edward, Report of Independent Counsel to SEC: Placement Agent Abuses at Kentucky Retirement System (March 12, 2012). Available at SSRN: http://ssrn.com/abstract=2112594 or http://dx.doi.org/10.2139/ssrn.2112594

Contact Information

Christopher B. Tobe (Contact Author)
Stable Value Consultants ( email )
Louisville, KY
United States
Edward Siedle
Independent
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