Attracted by promises of high returns, many public pension funds have been loading up on private equity but may not fully appreciate the dangers, our columnist says.

Read More Pensions and Retirement Plans, Private Equity, Stocks and Bonds, Labor and Jobs, States (US), Mergers, Acquisitions and Divestitures, Government Employees, Personal Finances, Banking and Financial Institutions, Sovereign Wealth Funds, Content Type: Service, Oregon