The fact that the California Public Employees’ Retirement System paid $3.4 billion in fees since 1990 to its private equity managers who earned $24.2 billion for retirees from the investments, as disclosed Tuesday, is causing a debate regarding whether pension funds should invest in such deals, the Los Angeles Times reports. Other funds, including the California State Teachers' Retirement System, may also be considering such disclosures in the near future.

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