"A legislative fight between North Carolina Treasurer Janet Cowell and a state employee association is signaling growing tension over disclosure practices as public pensions seek to improve returns with alternative investments.... North Carolina has about $18.7 billion of alternative investments, or 21.5 percent of its assets.... The pension lagged behind both of its benchmarks for private equity and hedge funds for the past 10 years ... [T]he state paid $416.2 million to firms hired to manage pension money last fiscal year, according to its annual report. A footnote says that it didn't disclose all fees[.]"  MORE >>