America’s renown public pension funds assisted the record $1.2 trillion that priate-equity firms increased this decade. Only small paper profits and a lot less cash to show the millions of policemen, hard working teachers and other civil servants in their retirement plans. Some of these big investors include state pensions in California, Oregon and Washington. All have invested a stunning $53.8 billion in private equity over the past ten years. All got back only $22.1 billion in cash by the end of 2008 from buyout plans. While some investors say they’re confident the private-equity industry’s practice will pay off, others have been hurt by a credit reduction that stopped deal-making and ruined the value of assets on private-equity.