Firm Tapped for CalPERS Fund Management
LM Capital Group LLC, a San Diego-based fixed-investment management firm for institutional clients, said it was selected by the California Public Employees Retirement System to manage an initial allocation of $100 million.
CalPERS, the largest pension fund with some $151 billion in assets, selected LM Capital as part of an effort to tap new and emerging money management firms to boost the system’s investment returns.
LM Capital, which manages about $1.13 billion, will invest CalPERS funds into U.S. investment grade securities.
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