Private equity overcomes California hurdle to expansion in US legal market
Lobbyists watered down legislation that would have frozen investor-owned firms out of largest state
Lobbyists watered down legislation that would have frozen investor-owned firms out of largest state

Firms are still struggling to deal with a lack of exits from their investments

Calpers believes private markets will outperform in the long term. Sceptics question its strategy

Surge of investment has raised concerns about whether advisers adequately explain illiquidity risk

Examples of assets shunted from one continuation vehicle into another are dribbling out

Investors question if some institutions rubber-stamp deals that could benefit other businesses

US private capital group expected to restart fundraising in flagship European buyout fund