Calpers to Cut External Money Managers by Half

2015-06-08T20:21:41-07:00June 8th, 2015|Categories: Defined Benefit Plans|Tags: , , |

The largest U.S. public pension fund intends to sever ties with roughly half of the firms handling its money, one of the most aggressive industry moves yet to reduce fees paid to Wall Street investment managers. The California Public Employees’ Retirement System, or Calpers, will tell its investment board on June 15 of its plans to reduce the number of direct relationships it has with private-equity, real-estate and other external funds to about 100 from 212, said Chief Investment [...]