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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