US – The $172.5bn (€196.3bn) Californian state public workers’ pension fund, CalPERS, has short-listed seven asset management firms to take care of the fund’s $4.1bn domestic growth equity fund.
The seven firms are Aeltus, Fifth Third Bank, Franklin Templeton, Goldman Sachs Asset Management, INVESCO, New Amsterdam Partners and TCW. CalPERS’s investment committee will select between two and four of the seven to present final selections some time next month.
Last month the fund retained State Street Global Advisors to oversee a $17.6bn (e20bn) international equity index fund. SSgA was chosen from a shortlist of five candidates who responded to a search initiated by CalPERS last October. SSgA has run the mandate, which tracks a customised FTSE index, for thirteen years.