Oregon PERS To Cash in on Foreclosures – Part II

Please read the previous blog post on January 31, 2008 for important background details regarding this controversial investment in Lone Star. Also view the brief youtube video with ACTUAL SHORT VIDEO CLIPS from the meeting in which Oregon PERS voted unamimously to give Lone Star $600 million to cash in on foreclosures. After attending the … Continue reading Oregon PERS To Cash in on Foreclosures – Part II

Oregon PERS & Loan Star to Cash In On Foreclosures: John Grayken, Korea Bank, Richard Solomon

Note: Also see Lone Star Part II, which has link to youtube video of Grayken's comments before the OIC. Today Oregon PERS investment arm, the Oregon Investment Council, met and awarded more than $1 billion in investment management contracts at its monthly meeting, including approving $600 million for Dallas based Lone Star and another $400 … Continue reading Oregon PERS & Loan Star to Cash In On Foreclosures: John Grayken, Korea Bank, Richard Solomon

Oregon PERS Commits $800 million to European Leveraged Buyouts and Takeovers of American Firms: KKR, CVC Group, Richard Solomon, Len Bergstein, Neil Goldschnmidt

Today, in its monthly meeting, the Oregon Investment Council, which manages Oregon's $70 billion in PERS and related public assets, continued its commitment to leveraged buyouts by private equity firms, this time in Europe as it provided $500 million to KKR and $300 million to CVC European Equity Partners. Now at 13 percent of total … Continue reading Oregon PERS Commits $800 million to European Leveraged Buyouts and Takeovers of American Firms: KKR, CVC Group, Richard Solomon, Len Bergstein, Neil Goldschnmidt

Oregon PERS Gambles on Venture Capital with Kids Emergency Fund Assets

On November 14, 2007 Nigel Jaquiss of The Willamette week, pictured above on left, wrote a story titled "Gambling with Kids Future." Jaquiss recently won the Pulitzer Prize for investigative journalism, a remarkable achievement for a local weekly publication. Pictured on right are Ron Schmitz, PERS Chief Investment Officer, and Jay Fewel, Portfolio Manager. Schmitz … Continue reading Oregon PERS Gambles on Venture Capital with Kids Emergency Fund Assets

Enron Style Train Wreck? Oregon PERS, SEC, DeFazio, Fortress, Railamerica

Just as Enron manipulated the power grid to create artificial profits, a private equity firm, Fortress, is now attempting the same game with key railroad infrastructure in the State of Oregon, and using Oregon Public Pension assets to do it. Oregon PERS invested an additional $125 million in Fortress in May 2007 (select May 2007 … Continue reading Enron Style Train Wreck? Oregon PERS, SEC, DeFazio, Fortress, Railamerica

SEC Chair Cox called to suspend RiskMetrics IPO due to proxy rule deficiency

Today Parish & Company formally requested the SEC to suspend RiskMetrics IPO due to inadequate disclosure regarding both RiskMetrics and ISS ownership structure. Such disclosure is the heart of proxy rule regulations given proxy firms unique role in the marketplace. In order to remedy this, RiskMetrics needs to file an ADV with the SEC and … Continue reading SEC Chair Cox called to suspend RiskMetrics IPO due to proxy rule deficiency

Kulongowski Endorses Westlund for State Treasurer

Yesterday Ben Westlund announced he would run for State Treasurer as a Democrat. He had previously briefly run for Governor as an independent in 2006 against Governor Ted Kulongoski and before that was campaign manager for a Republican, Kevin Mannix, who ran and lost against Kulongoski in 2002. Westlund eventually withdrew from the Governor's race … Continue reading Kulongowski Endorses Westlund for State Treasurer

OIC Awards $1.2 B, Solomon Discloses Conflict, Leon Black Presents, Westlund Treasurer Candidate

Yesterday the OIC met and awarded $1.2 billion in investment contracts. The meeting included a presentation from Leon Black (Pictured below) who is personaly worth $4-5 billion. Dick Solomon and Katy Durant both disclosed conflicts of interest, former OIC Chair Gerard Drummond was in attendance as was expected candidate for State Treasurer Ben Westlund. This … Continue reading OIC Awards $1.2 B, Solomon Discloses Conflict, Leon Black Presents, Westlund Treasurer Candidate