CalPERS' Hayes presses PE reporting standards.(Richard Hayes, Private Equity)(Brief Article)

Byline: Kelly Holman

The issue of private equity fund reporting has been the subject of cocktail chatter among the big pensions and foundations ever since the California Public Employees' Retirement System decided to post buyout fund performance numbers on its Web site.

But while CalPERS eventually pulled those numbers off its site, the larger issue of fund reporting has taken on greater seriousness. Richard "Rick" Hayes, CalPERS' senior investment officer, is now championing the creation of what appears to be the first real private equity fund performance reporting standard.

The reporting issue, and others, have simmered beneath the surface for …