Jenna Gottlieb

The $71bn pension system says cuts in fees it pays to investment managers will save it at least $40m over the next five years.

Latin America’s largest economy has reduced taxes for foreign investments in private equity funds, according to reports.

The Australian Tax Office has finally ruled on an issue which arose following a dispute with TPG over taxes payable on the returns from the IPO of Myer Group in October 2009.

Henry Morris will pay $19m and accept a permanent ban from the securities industry in New York State as part of his guilty plea in New York’s pay-to-play pension investigation.

Following an internal audit this summer, Kentucky Retirement Systems is facing a review by Kentucky’s state auditor over its use of placement agents.

The former political consultant’s reported plea comes on the heels of news that Steve Rattner is close to a deal with the SEC.

The private equity community breathed a sigh of relief as the European Parliament passed language allowing for the much debated passport rules to be included in the AIFM directive. However, some key challenges remain, writes Jenna Gottlieb.

The $218 billion pension giant won a fee break from CIM Group, a real estate manager with ties to Alfred Villalobos.

The Economic and Financial Affairs Council has agreed to a text for the Alternative Investment Fund Managers Directive to be put before the European Parliament. A final decision is expected within days.

Manatt Phelps, which took a fee from an LA buyout firm for arranging a CalPERS meeting, has agreed to pay a fine and accepted a five-year ban on facilitating business with New York pension funds.