1 minute readCalPERS and its biggest investment partner, New York’s Apollo Global Management, are announcing this afternoon a “new strategic relationship” which will eliminate the use of placement agents and lead to a “substantial reductions” in fees — $125m worth — payable to Apollo, which currently handles $5bn in CalPERS funds. According to a CalPERS press release, the two entities ” believe that the agreement will set a new standard among pension funds and their investment advisers.” What that means is that CalPERS will be using the agreement as a template to renegotiate arrangements with its other investment partners — including the elimination of placement agents.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
Most Popular Articles
Latest Articles
From resilience to antifragility: Rethinking cybersecurity for real estate and mortgage professionals
In information security, we’ve long spoken about resilience. The goal has been to withstand an attack, recover quickly, and return to business as usual. But in today’s environment—where attackers adapt and evolve daily—resilience is no longer enough. We must go further. We must embrace antifragility.
-
From local to global: RE/MAX’s Chris Lim on the next era of real estate relationships
-
Stop marketing like it’s 2008: You’re invisible
-
RE/MAX accelerates real estate innovation with AI and technology
-
Retirement plans for small-business owners have visible generational gaps
-
VA loans rise as housing market shifts toward buyers
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
