Payment: One of the most important clauses is the payments clause. Change without regulatory effect amending subsection (a)(5), adding subsections (a)(5)(A)-(B) and (a)(6), renumbering subsections, amending newly designated subsection (a)(8) and adding subsections (a)(8)(A)-(B) filed 11-22-2011 pursuant to section 100, title 1, California Code of Regulations (Register 2011, No. (H) A statement whether the Placement Agent, or any of its affiliates, is registered as a lobbyist with any state or national government. Amendment means any modification to an agreement with an External Manager (including by a vote, consent, or waiver by the limited partners/investors or a subset of the limited partners/investors, or separate side agreement or amendment to a side agreement) to continue, terminate, or extend the term of the agreement or the investment period, increase the commitment of funds by CalPERS, or increase or accelerate the fees or compensation payable to the External Manager. (3) Representation and warranty as to the continuing accuracy of the information included in the Placement Agent Information Disclosure in any final written agreement with a continuing obligation to update any such information within 14 calendar days of the date that the External Manager knew or reasonably should have known of any material change in the information. (F) The names of any current or former CalPERS Board members, employees, or Consultants who suggested or otherwise assisted in the retention of the Placement Agent. Please check your spam or junk folder just in case.Chinese GPs await an uncertain future with US public pensionsThese firms have been the most bullish during the pandemicSide Letter: KKR’s covid crisis spending spree, PGIM-iCapital tie up, July’s largest fundsPlease confirm you would like to remove this article from your saved articles.Only logged in subscribers of this site will be able to access the shared article. (8) Placement Agent. (G) A statement that the Placement Agent is registered with the Securities and Exchange Commission or the Financial Industry Regulatory Authority or the Commodity Futures Trading Commission, and the details of such registration. 47).This database is current through 7/31/20 Register 2020, No. Any exceptions agreed to by the Chief Investment Officer shall be reported out to the public and the Investment Committee within 60 days. The Investment Committee and Chief Investment Officer shall only provide exceptions that are consistent with their fiduciary responsibilities as described in Article XVI, section 17 of the California Constitution, and provided further that all such exceptions are fully disclosed to the public.
(d) CalPERS staff and, except as specified below, CalPERS Vehicle Managers are responsible for all of the following:(1) Providing External Managers with a copy of this regulation at the time that discussions are initiated with respect to a prospective investment or engagement. Placement Agent means any Person directly or indirectly hired, engaged, retained by, or serving for the benefit of or on behalf of an External Manager or an Investment Fund managed by an External Manager, and who acts or acted for compensation as a finder, solicitor, marketer, consultant, broker or other intermediary in connection with the offer or sale to CalPERS or a CalPERS Vehicle either of the following:(A) In the case of an External Manager within the meaning of section (a)(5)(A), the investment management services of the External Manager, or(B) In the case of an External Manager within the meaning of section (a)(5)(B), an ownership interest in an investment fund managed by the external manager.Notwithstanding the above, a Placement Agent shall not include any individual who is an employee, officer, director, equity holder, partner, member, or trustee of an External Manager who spends one-third or more of his or her time, during a calendar year, managing the securities or assets owned, controlled, invested or held by the External Manager. Chapter 2. (5) External Manager. It is a common business practice to charge a commission on the total amount of investment as placement agent fees. Person means an individual, corporation, partnership, limited partnership, limited liability company, association or other entity (whether domestic or foreign). PLACEMENT AGENTS We analyze the activity of placement agents servicing private capital funds closed so far in 2018 and those that are currently raising capital, as well as provide breakdowns of placement agent activity by asset class, fund size and more. (2) Confirming that the Placement Agent Information Disclosure has been received within 45 days of the time investment discussions are initiated, but in any event, prior to the completion of due diligence and any recommendation to proceed with the contract or Amendment. Consultant means an individual or firm, and includes an individual designated in a CalPERS contract as a key personnel of a Consultant firm who is contractually retained or has been appointed to a pool by CalPERS to provide investment advice to CalPERS but who do not exercise investment discretion.