A NY AG investigation into whether private equity firms use "management fee waivers" to dodge...

|By:, SA News Editor

A NY AG investigation into whether private equity firms use "management fee waivers" to dodge taxes is complicated by the fact that the $150.6B NY State Retirement Fund has a long history of agreeing to the practice. "This tells us that the NY state pension fund thinks this is legal or they wouldn't be doing it," says a law professor.