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CalPERS and the ‘illiquidity premium’

JANUARY 21, 2020 | by Jamie Powell | FINANCIAL TIMES

By Jamie Powell, includes “Private equity’s runaway success with fund allocators over the past decade has drawn some criticism from those who invest in listed securities -- such as mutual and hedge funds. … The only difference being that volatility in a private equity portfolio, due to the owned businesses having no day-to-day prices, is masked…” 

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