Take you higher: The Teachers’ Retirement System of Louisiana fund achieved higher returns than the U.S. average in private equity and real assets, including real estate and commodities, over a five-year period ending Dec. 31, 2011. That’s according to a new analysis conducted by Toronto-based CEM Benchmarking, which says TRSL returned 10.7% in private equity and 2.6% in real assets—compared to U.S. averages of 7.5% and 1.8% in the respective categories. See the full statement from TRSL on the analysis here for more details.
Meet the new boss: PAC Stainless, which has warehouse and distribution facilities in Baton Rouge, Houston, Seattle and Atlanta, has had its majority stake bought by Washington’s largest private equity fund, Evergreen Pacific Partners, for an undisclosed sum. No immediate changes in the operations at the warehouses are expected as a result of the sale. “Our investment in PAC Stainless is exactly in line with our overall investment focus of partnering with leading companies in traditional industries that we can position for future growth,” says Evergreen co-founder and managing partner T.J. McGill in a statement.
After the flood: Alvin Livers testified today that he lost his dream home when busted floodwalls unleashed a torrent of water that inundated his New Orleans neighborhood during Hurricane Katrina. Seven years later, Livers is one of several homeowners seeking to hold the U.S. Army Corps of Engineers and a contractor liable for hundreds of millions of dollars in damage. He was the first witness at a federal trial for a lawsuit against the corps and Washington Group International Inc. Read the full story here.
Who’s the boss? Right Management recently asked 559 North Americans what they seek to avoid most when looking for a new job. The majority, 51%, say they most wish to steer clear of incompetent leaders; among the rest, the most significant factors were a rigid work setting (22%), high workplace stress (16%), flat compensation (7%), and pressure to take on greater responsibility (7%). “This is more evidence about the crucial role that must be played by leaders. People will forgive a lot if they perceive that they are being well led,” says a spokesman with Right Management, a talent, career and outplacement services firm.
