Calpers, California’s $300 billion public employee pension fund, won’t be the toast of Wall Street this summer. On Monday, the agency announced that it plans to cut the number of external fund managers it works with by more than half, from 212 to 100, in a move designed to save on fee expenses. Last year, Calpers paid $1.6 billion in management fees.

While most of Calpers’ investment management partners are based in New York, the agency does use some L.A. firms, which might find themselves vulnerable to losing some business. They include:

Ares Management in Century City

Oaktree Capital Management in downtown Los Angeles

Levine Leichtman Capital Partners in Beverly Hills

Clearlake Capital in Santa Monica

CIM Group in Mid-Wilshire

Craton Equity Partners in Beverly Hills

Nogales Investors Management in West Hollywood

Canyon Capital Realty Advisors in Century City

CBRE Group Inc. in downtown Los Angeles.

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