The simmering row over private equity firms disclosing information to their investors took a conciliatory turn this month when Colorado legislators exempted the US state's largest public fund from revealing details of its alternative investments.

The law allows the $29bn (€24bn) Colorado Public Employees Retirement Association to withhold sensitive information on its $2.9bn portfolio of private equity and other alternative investments. Details which could compromise the value of private equity managers' portfolio companies, such as business plans or research findings, can now be left out of Colorado's reports, said the legislator.