"A new California law has hedge funds and private equity reaching for some antacid.
Starting this month, anyone who solicits money for private investment managers from the two largest public pension plans in California must register as a lobbyist and can no longer be paid incentive fees for successful commitments.
The two pensions are the California Public Employees’ Retirement System, or Calpers, which manages more than $200 billion in retiree money, and the California State Teachers’ Retirement System, with more than $140 billion."
California Lobbyist Law Affects Hedge Funds
NYTimes.com:
