California Government Code Section 7514.7 (Code 7514.7) requires California Public Plans to disclose fees and expenses, including carried interest, paid to its alternative investment fund managers on an annual basis. The Plan’s alternative investments include the following:
The intent of Code 7514.7 is to increase transparency of the fees public plans are paying by expanding on the existing disclosure requirements for alternative investments as stated in the California Public Requirement Act.
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Employees Retirement Plan Room 357 Department of Water & Power PO Box 51111 Los Angeles, CA 90099-5520