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☆ Calpers Scrutinizes Blackstone Portfolio Practices Over Child Labor Fine
▼ + stars: | 2023-06-22 | by ( Rod James | ) www.wsj.com time to read: 1 min

California Public Employees’ Retirement System ratcheted up its scrutiny of private-equity manager Blackstone in the wake of a child labor scandal at a company the firm owns. During a Tuesday investment committee meeting, Anton Orlich, managing investment director for private equity, said Calpers had demanded that representatives of Blackstone come to the pension’s Sacramento headquarters to discuss how the breach at Packers Sanitation Services happened.

Persons: Blackstone, Anton Orlich, Calpers Organizations: California Public, Packers Sanitation Services Locations: California, Sacramento

☆ California pension fund looks to boost venture capital investments despite startup market turmoil
▼ + stars: | 2023-06-14 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

California's giant public pension fund is looking to increase its venture capital exposure in the coming months, despite a swoon in the startup market and lackluster performance of late by the fund's VC portfolio. Between 2000 and 2020, CalPERS underperformed the venture market, according to a PitchBook report, notching annual returns of 0.49%. In the last year, while CalPERS' PE portfolio returned −4.7%, CalPERS' venture investment performance came in at −24.8%. The pension fund's investments have skewed to the public market and to so-called "real assets," such as property. WATCH: Pension funds venture investments

Persons: Anton Orlich, Orlich, CalPERS Organizations: California Public Employees, National Venture Capital Association, Venture Locations: −

May 8 (Reuters) - Goldman Sachs Group Inc (GS.N) agreed to pay $215 million to settle a class action alleging widespread bias against women in pay and promotions, ending one of the highest-profile lawsuits claiming unequal treatment of women on Wall Street. In a well-known 1990s case, Smith Barney settled charges that men harassed women in a space known as the "Boom-Boom Room." "This settlement will help the women I had in mind when I filed the case," Orlich said in a statement. The settlement also calls for Goldman to hire independent experts to analyze its gender pay gaps and performance evaluation processes. In 2020, the bank said it aimed for 40% of vice presidents to be women within five years.

☆ Goldman to pay $215 mln to settle gender discrimination lawsuit - Bloomberg News
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +1 min

May 8 (Reuters) - Goldman Sachs Group Inc (GS.N) has agreed to pay $215 million to settle a long-running class-action lawsuit that accused the investment bank of widespread bias against women in both pay and promotions, Bloomberg News reported on Monday citing a person familiar with the matter. Last week, Reuters reported that the talks were ongoing to settle roughly a month before the trial was set to begin. The plaintiffs alleged the bank systematically paid women less than men and gave women weaker performance reviews that impeded their career growth. They are led by Cristina Chen-Oster, Mary De Luis and Allison Gamba, who were Goldman vice presidents, and Shanna Orlich, who was an associate. The lawsuit is among the highest-profile cases targeting Wall Street's alleged unequal treatment of women, including in litigation against many banks that stretches back decades.

☆ Goldman Sachs: Newly-unredacted document alleges dozens of incidents of "sexual assault and harassment" at firm, lawsuit says
▼ + stars: | 2022-09-24 | by ( Laura Ly | ) edition.cnn.com time to read: +1 min

(CNN) A newly-unredacted document alleging an "uncorrected culture of sexual assault and harassment" at investment bank Goldman Sachs states that at least 75 incidents of alleged sexual assault and harassment were reported between 2000 and 2011. The document is part of an ongoing gender discrimination lawsuit against the investment bank that dates back to 2010. The lawsuit, originally filed on behalf of former Goldman Sachs employees Cristina Chen-Oster, Allison Gamba, Shanna Orlich, and Mary de Luis, became a class-action lawsuit in 2018. It now represents over 1,400 current and former female associates and vice-presidents at Goldman Sachs who say they encountered discrimination over pay, promotion, and reviews, according to a press release. At the time, a spokesman for Goldman Sachs called it a "a normal procedural step for any proposed class action lawsuit" that "does not change the case's lack of merit."

☆ Goldman Sachs: Newly-unredacted document alleges dozens of incidents of ‘sexual assault and harassment’ at firm, lawsuit says
▼ + stars: | 2022-09-24 | by ( Laura Ly | ) edition.cnn.com time to read: +3 min

CNN —A newly-unredacted document alleging an “uncorrected culture of sexual assault and harassment” at investment bank Goldman Sachs states that at least 75 incidents of alleged sexual assault and harassment were reported between 2000 and 2011. The document is part of an ongoing gender discrimination lawsuit against the investment bank that dates back to 2010. Richard Perry/The New York Times/ReduxThe lawsuit, originally filed on behalf of former Goldman Sachs employees Cristina Chen-Oster, Allison Gamba, Shanna Orlich, and Mary de Luis, became a class-action lawsuit in 2018. Goldman Sachs said in a statement Friday that the allegations do not “reflect reality” and that many of the claims are “two decades old and have been presented selectively, inaccurately and are incomplete. ““Discrimination, harassment and mistreatment in any form are unacceptable at Goldman Sachs, and when identified, swift action, including termination, is taken.

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